tashatuvango - Fotolia

Misco looking to become serious solutions and services player

Misco is charting a fresh course under new ownership with solutions and services the areas where it will be looking for growth

Misco is setting a course to develop its UK services and solutions business as it emerges from the former Systemax ownership.

The firm was sold by Systemax at the end of last month and is being headed up by CEO Alan Cantwell along with a three strong team made up of fellow former Selection Services executives that have also been part of the management buy-in.

That purchase was supported by the private equity arm of Hilco and since last week the business was given £15m in extra finances from Bank Leumi.

Cantwell has been busy getting to grips with a business that he set out trying to buy a couple of years ago after identifying that it would be much more successful once taken out of Systemax ownership.

"It feels as if a weight has been lifted off the business," he added "It felt like an orphaned step-child that nobody wanted."

The main focus for the UK business is to take a leaf out of the Dutch operation, which gains two thirds of its revenues from selling solutions and services, and move beyond the core hardware sales.

Cantwell said that the UK operation had been developing the solutions and services offerings for the last few months but that effort would now be stepped up and it would be changing the balance of the business.

"We want to protect the core and will be doing the transactional side but will also be providing the solution side," he added "This is a business that is going to be a great business and not just a good business."

He admitted that the Misco sale has been a well kept secret and although distribution and vendors had been shocked to hear of the deal they had been very supportive of the deal.

"It is going to take a lot of work from the staff, clients and suppliers. We have got that," he said that there had been positive engagement with Dell EMC and HPE in the last couple of weeks.

Read more on Finance and Credit