As the Covid-19 pandemic has caused many companies to conduct business in a more reserved manner, the opposite can be said for Javier Gomez and his Greensboro-based IT services and networking business, Dynamic Quest.
In the past 12 months, Gomez has been on an acquisition tear, doubling the company’s portfolio. In 2020, his acquisitions of Georgia's Cohn Consulting, Southern Data Solutions and Nexxtep Technologies have positioned Gomez and his company to compete for even larger acquisitions in 2021. All told, Dynamic Quest has closed five acquisitions since forming its partnership with New York private equity firm Spire Capital in 2018.
“In another 18 to 24 months we expect to double again; that’s my goal. I believe we are on track for doing it,” Gomez said. “So, the bigger we are each year makes it easier to do bigger acquisitions. So, I do believe we’ll hit the targets.”
Even during the pandemic, Dynamic Quest was able to add several employees to reach a total of 156 workers. The biggest impact of the pandemic, however, was on revenue, as clients pulled back on engagements.
“Everybody felt bumps during the Covid time, and we certainly did too, but we have a good revenue model, so we’ve managed to hold together pretty well,” Gomez said. “Actually, much better than I expected.”
Despite a pandemic that shows no indication of slowing down soon, Gomez said the challenges before him are no different than every year: Finding new clients while maintaining existing clients, achieving organic growth and expanding through acquisitions.
The next round of acquisitions in 2021, Gomez said, may well include expanding into new territories such as Alabama, Florida, Virginia and Tennessee, which he said yield a lot of opportunities.
“It’s going to be our sales growth, growing our opportunities that we have exposure to,” Gomez said. “But also opening up more geographic footprint. Probably one of the big steps when you get into that kind of size is geographic growth.”
