Claude Wangen - stock.adobe.com
Bechtle extends UK reach with Tangible Benefit buy
Deal comes just a few months after its last M&A activity, and indicates the seriousness of ambitions to become a sizeable channel player in the UK
Bechtle has strengthened its position in the UK through the acquisition of London-based Tangible Benefit.
The decision to pick up the VAR comes just four months after the firm moved for ACS Systems, and underlines the commitment the German business is making to growing its UK business.
Tangible Benefit has been around since 1997, with revenues of €70m in the 2021/22 fiscal year, and a reputation to sell and support a range of technologies across hardware, software, security and networking segments.
Bechtle will be picking up the firm and its 65 staff, and Tangible founder Timothy Trotman will remain with the company for the transition phase, working with James Napp, managing director of Bechtle direct UK, before stepping out of the business.
Making sure there was a succession plan for the staff at Tangible was the primary motivation for the business looking for a change of ownership.
The deal, the terms of which were not disclosed, also gives Bechtle a London office to operate out of, along with its presence in Manchester, Northampton and Chippenham. It takes the headcount to the 280 mark across the four sites, and consolidates total revenues in the region of around €200m.
“I’m deeply impressed by the extraordinary spirit and ambition shown by the highly qualified and motivated Tangible Benefit team,” said Konstantin Ebert, executive vice-president for France, Benelux and the UK at Bechtle. “They will be a fantastic addition to the Bechtle family and I’m very much looking forward to facing the future together.”
Napp will be charged with working closely with the Tangible team and integrating the business into the overall UK operation.
“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 into Tangible Benefit’s customers,” he said. “This is another important step towards becoming one of the top 10 IT solutions providers in the UK.”
In response, Nick Barrett, sales director of Tangible Benefit, said it was aware of Bechtle and viewed it as a good home for the business.
“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,” he said.
“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.”