German-based Bechtle buys a British VAR to further strengthen its UK portfolio.
This week Bechtle announced that it has acquired Tangible Benefit, a company which Bechtle describes as “a lucrative value-added reseller in the United Kingdom”.
Founded in 1997, the London-based VAR “has an excellent reputation and it is a well-known name in the industry”, according to Bechtle’s announcement. Tangible Benefit also brings annual revenues of 70 million euros in its core business of hardware procurement, including related plug-and-play services and software licensing, complemented by security and network services and lifecycle management.
With this acquisition, Bechtle continues to pursue its previously announced strategy for international growth outside of Germany. The acquisition of Tangible Benefit comes after having acquired ACS Systems, a UK-based Managed service provider, in November last year,
Tangible Benefit’s rationale for selling is “to secure a succession plan along with attractive development potential for its 66 employees”, according to Bechtle. Founder Timothy Trotman will remain with the company for the transition phase and will oversee its integration into the Bechtle Group together with James Napp, Managing Director of Bechtle direct UK. All other senior managers will remain in their current positions, guiding operations at the London office, the company confirmed.
With the addition of Tangible benefit, Bechtle is adding a company to its roster that offers a very similar portfolio to that of Bechtle UK. By joining forces, the companies believe they are also creating an even stronger link between major vendor partners and the UK’s B2B customer landscape.
Moreover, the new location also gives Bechtle a regional presence in the London market and an expanded customer base in the corporate space. Bechtle says this will enhance Bechtle’s international capabilities. Combined with other UK offices in Manchester, Northampton and Chippenham, this acquisition now sees the IT company extend its footprint across the UK. This latest acquisition takes the total Bechtle UK headcount to the 280 across the four sites and consolidates total revenues in the region of around €200m.