Occam
How a "leap of faith" led to a lot of growth for Occam founder David Wilkes
Background
As Occam Systems Ltd approached its 20-year anniversary, Co-founder David Wilkes found himself thinking a lot about the future. For the prior two decades, Occam and Volaris-owned Kinetic Solutions Ltd had gone head-to-head in the UK, both delivering solutions to help Universities manage student accommodations and events.
Occam was in a stable, comfortable place. It was not growing but it was not going backward either. As David wondered what would advance the UK market and how Occam could re-start growth, he decided he “needed to do something dramatically different to change the status quo, to afford to take risks and to build new product.” He began to consider strategic acquisition as a route to growth.
Through what David refers to as a “leap of faith,” in March 2018 Occam Systems joined Volaris-owned Kinetic. The two companies, now one, continue to thrive today.
David Wilkes, Co-founder Occam
"There's always a degree of unknown, a leap of faith required. You can never predict the future. You put trust in the people that you're dealing with, in what they're promising you. They could promise the Earth but in this case, they were truthful. I think you can say it's been a surprisingly happy outcome."
Taking a Leap of Faith
When David reflects on the days leading up to the acquisition, he remembers asking Kinetic CEO, Rob Turner and Volaris M&A Director, Lawrence Rosedale some difficult questions. And he remembers their answers. He remembers their commitment to protecting what they were buying, to not just stripping the assets out of Occam but to leveraging everything that was great about it - its leaders, team members, customers, and technology. For David, that was the start of the journey and when he really started to believe it was all possible
When evaluating his options for acquisition, David determined that what’s best for the business would be what lies at the intersection of what’s best for its customers, staff, shareholders, and founders. He outlined the specifics:
- For customers, he wanted to deliver new products.
- For staff, he wanted to offer new opportunities.
- For shareholders, he needed to get them a return on their investment.
- For himself, he wanted to take on new challenges.
At the time of the sale, Occam’s shareholders received a return on their investment and the rest of David’s requirements were on their way to being realized.
Post Acquisition Success
Occam's team, prior to joining Volaris-owned Kinetic, had a close-knit atmosphere but lacked opportunities for personal growth and advancement due to its small size. However, post-acquisition, all top performers have been retained, enjoying continuous challenges and opportunities within the Kinetic organization.
Occam's founder, David, has also found new avenues for development, leading Kinetic's professional services and customer care teams, eventually becoming the Chief Transformation Officer.
With increased resources and support, David focuses more on strategic planning and enjoys the freedom from administrative tasks.
Occam's product offerings have evolved to meet customer needs better, introducing features like mobile functionalities for student accommodation and a Student Life module to support mental health.
Looking ahead, David aims to expand into new markets, appreciating the growth and impact they've achieved while reflecting on the support they've provided to their customers and team members over the years.
