Bechtle acquires value-added reseller in United Kingdom
- IT company adds London-based Tangible Benefit Ltd. to ranks
- Bechtle extends foothold in the UK market
- International acquisition strategy continues apace
Chippenham-headquartered B2B IT solutions provider, Bechtle has acquired a lucrative value-added reseller in the United Kingdom. Founded in 1997, the London-based company has an excellent reputation and it is a well-known name in the industry, achieving revenues of some 70 million euros in the 2021/22 fiscal year. Its core business is hardware procurement including related plug-and-play services and software licensing, complemented by security and network services, and lifecycle management. Tangible Benefit’s rationale for selling its profitable business is to secure a succession plan along with attractive development potential for its 66 employees. Company founder, Timothy Trotman, will remain with the company for the transition phase and will closely oversee its integration into the Bechtle Group together with James Napp, Managing Director of Bechtle direct UK, before handing over the baton. All other senior managers will remain in their current positions, guiding operations at the London office.
This acquisition further reinforces Bechtle’s previously announced strategy for international growth. After acquiring UK IT service provider, ACS Systems, in November last year, Bechtle is adding a company to its fold that offers a very similar portfolio to that of Bechtle UK. By joining forces, Tangible Benefit and Bechtle are also creating an even stronger link between major vendor partners and the UK’s B2B customer landscape.
The new location also gives Bechtle a regional presence in the highly attractive London market and an expanded customer base in the corporate space, which will benefit strongly from Bechtle’s international capabilities. Combined with existing offices in Manchester, Northampton and Chippenham, this acquisition now sees the IT company extend its footprint across the UK.
Assured succession and excellent development opportunities
“I’m deeply impressed by the extraordinary spirit and ambition shown by the highly qualified and motivated Tangible Benefit team. They will be a fantastic addition to the Bechtle family and I’m very much looking forward to facing the future together,” says Konstantin Ebert, Executive Vice President for France, Benelux and the UK, Bechtle AG.
James Napp, Managing Director, Bechtle direct UK: “I’m excited to work with the success-driven team at Tangible Benefit and capitalise together on the substantial cross-selling opportunities for Bechtle’s solutions and services offerings into Tangible Benefit’s customers. This is another important step towards becoming one of the top 10 IT solutions providers in the UK.”
“We’ve known Bechtle for many years as we navigate the same market and we’re extremely happy to entrust our company to such a safe pair of hands. Our top priority was ensuring our staff’s future was secure and that our customers could continue to count on us to deliver added value, which they can, now with even greater capabilities and more expansive offerings thanks to Bechtle,” says Nick Barrett, Sales Director of Tangible Benefit.
Strong market position in the UK
Bechtle has been enjoying success in the United Kingdom for over 20 years, offering enterprise and public-sector customers a broad portfolio of hardware, software, solutions and services. In November 2022, Bechtle UK were awarded ‘Reseller of the Year (£101m+ turnover)’ at the CRN Channel Awards - one of the most prestigious accolades in the B2B IT industry. With the addition of Tangible Benefit, Bechtle employs some 280 staff across four sites in the country. Consolidated revenues total around 200 million euros.
As is usual, the purchase price and conditions remain confidential.
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About Bechtle:
With more than 85 system houses and IT e-commerce in 14 countries, Bechtle is one of Europe’s leading IT providers and never more than a stone’s throw away. A founding member of the Global IT Alliance (GITA), Bechtle has a worldwide partner network to fulfil the needs of its customers on every continent.
Founded in 1983, the Bechtle Group is headquartered in the southern German town of Neckarsulm and currently employs some 14,000 people. Over 70,000 customers from the industrial, trade, financial and public sectors rely on Bechtle to drive their digital transformation with a cross-vendor portfolio that spans the whole world of IT infrastructure and operations. Bechtle is listed on the MDAX and TecDAX indexes. According to preliminary figures, revenue in 2022 was around 6 billion euros. Read more at: bechtle.com
Bechtle will publish its figures for the 2022 fiscal year on 17 March 2023.