5. Tangible Benefit
Acquirer: Bechtle
When: March
Deal size: Undisclosed, but Tangible Benefit turned over £62.5m in its fiscal 2022.
How it started:
Germany’s largest IT reseller boosted its UK revenues to around €200m by snapping up this London-based hardware procurement specialist.
Becthle direct UK MD, James Napp, billed the move as “another important step towards becoming one of the top 10 IT solutions providers in the UK”.
It followed on from Bechtle’s November 2022 acquisition of MSP ACS Systems.
The giant now employs 280 staff across UK four sites.
What happened next:
Along with the likes of SCC and Insight, Bechtle has emerged as a powerful trade acquirer in 2023 as private equity firms pulled in their horns.
It landed a fresh €300m M&A warchest in November 2023. Having traditionally financed acquisitions via loan agreements, Bechtle said the high interest rate environment had made financing via convertible bonds “attractive for the first time”.
There were 4 bigger trade acquisitions this year. See next page for more…
