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GPK Group acquires Geek's assets

GPK Group acquires Geek's assets

Takes control of 200 customers and 11 employees

IT services provider GPK Group has acquired the assets of Adelaide-based Geek, and will also be taking on-board all of the company's employees.

Established in 2004, Geek currently works with 200 customers and employs 11 people.

The decision was made in October when Geek founder Jon Paior decided to wind up the company following a costly and unsuccessful expansion into Melbourne.

Liquidator Simon Richard Miller, of Clifton Hall, was appointed on 30 November following a general meeting of members of the company.

The decision made by Paior was especially difficult given that a family member has fallen ill.

“It was the toughest decision of my 14 years in business,” said Paior, insisting that the decision was necessary to protect the interest of both clients and employees. “During the past two years, we’d expanded into Melbourne, which was both expensive and ultimately unsuccessful.

"While we worked to manage our way out of the debt that we’d incurred, when my wife was diagnosed with cancer, I realised that I had to choose between the business and my family.

“Now, without the pressures of business ownership, especially one that is struggling, I can focus my energies on looking after my wife and our three young children. While my wife’s treatment is going well, I recognise I have to put my family first."

The Melbourne expansion included the acquisition of Valiant IT in May 2017 but the deal was undone a year later, with Valiant IT returning to being a separate business from Geek.

The value of the acquisition was not disclosed.

A report on the company's activities revealed Geek owes approximately $1 million to creditors.

With offices in Brisbane and Melbourne, this is an opportunity for the GPK Group to expand into Adelaide.

“We’d been actively looking to expand into Adelaide to support our growing retail point-of-sale customer base across the Independent Grocers Network in South Australia,” GPK CEO Grant Klaaysen said. “When the opportunity came up to take on Geek’s employees and customer base, we knew that it would be a great match for GPK.”

GPK is also expanding the team and is searching for a senior systems engineer.

Paior is also running a campaign to raise money that will be donated to South Australia Cancer Council in February 2019.


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Tags acquisitiongeekGPK Group

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