Northamber’s recent acquisitions are united by their “founder-friendly mentality”, its Executive Chairman Alex Phillips told IT Channel Oxygen following its latest deal.
Northamber this morning announced it has acquired Irish cybersecurity VAD Renaissance Contingency Services for up to €0.9m.
€5m-revenue Renaissance represents the AIM-listed Northamber’s first ever cybersecurity acquisition, and second purchase of 2024 (following its move for UCC distributor Tempura in April).
Founded in 1980, AIM-listed Northamber bills itself as the UK’s longest-standing trade-only distributor. Renaissance (founded in 1987), Tempura (2002) and 2020 audiovisual acquisition AVM (1968) share a similar founder-friendly ethos, Phillips claimed.
“Our acquisitions strategy includes focusing on companies that value our founder-friendly mentality and are looking to the future,” said Phillips, who moved into his current role in December to focus more on M&A and growth opportunities.
Running the rule over renaissance
Renaissance logged a €0.02m net loss on revenues of €5.15m in its year to 30 June 2023, but has enjoyed 20% growth and a return to profitability in its current 2024.
It counts Alludo, Bullwall, Censornet, Opentext, Progress Software, Proofpoint, Solarwinds, Sonicwall and WatchGuard among its vendor chums.
Cybersecurity is one of four technology pillars for long-time WatchGuard ally Northamber alongside AV, UC&C and infrastructure solutions.
“We will be keeping Renaissance as a wholly owned subsidiary, leaving its management and staff as is but will be looking at how we can better support our partners by introducing partners from different territories and technologies to subsidiaries and group trading units,” Phillips said.
The deal is made up of a €0.6m upfront cash payment and a contingent consideration of up to €0.3m based on profits over the next three years.
Doug Woodburn is editor of IT Channel Oxygen
