Neckarsulm, 16 March 2023 – In Tangible Benefit Ltd., Bechtle AG 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.
With this acquisition, Bechtle is staying on course with its 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 other 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. With 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.