Exclusive Group has indicated it is determined to reach the $10bn revenue target with a focus on bringing together cyber security and cloud.
The firm has been delivering security and cloud services for a while but has now decided to bring the two disciplines together and has got the backing of private investment firm Permira to realise the plans.
The Permira funds will give the distributor the opportunity to carry on as an independent firm and avoid becoming part of the industry's consolidation story.
The update on the future strategy comes just shy of three months after the private investment firm took a reported €1.3bn majority stake in the business with funding made available to support the existing management team led by Exclusive Group CEO Oliver Breittmayer.
“Cybersecurity and cloud are the leading business priorities in this age of digital transformation, both as separate disciplines but – even more so – joined together as a co-dependent whole," said Breittmayer.
"Both sectors are becoming increasingly complex, and both suffer from a huge lack of skills & knowledge. The Industry needs a VAD that can fill this gap and we aim to do that. We believe we have the right and relevant focus; vendors, services and skill sets to build a compelling offer for channel partners and vendors to realise significant profitable growth," he added.
The focus on security and cloud not only tapped into an area suffering with skill shortages but is also one in demand because of the implications the technology has for those planning digital transformation projects.
"Our strategy will see us continue to build out the strongest possible vendor portfolio in our ‘cyber super centres’ and ‘cloud competency centres’ – across all relevant segments – and expand our service offerings and global footprint to meet the demands of any project," said Breittmayer.
Michail Zekkos, Partner in the technology team at Permira, said that it fully backed the strategy, which it believed tapped into industry growth areas.
“We believe that enterprise cloud and cybersecurity will continue to rapidly converge, creating a tremendous market opportunity for the company to enable that transition while positioning its channel partners at its forefront. Preserving the entrepreneurial spirit and independence of the business while continuing to innovate with speed and at scale will be key to executing on its next phase of growth," he said.