UK IT Channel News | IT Channel Oxygen
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • About Us
  • Partner with us
  • KOcycle Zone
Members
Must-Know Distributors
Oxygen 250
No Result
View All Result
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • About Us
  • Partner with us
  • KOcycle Zone
No Result
View All Result
UK IT Channel News | IT Channel Oxygen
No Result
View All Result
Home M&A

Is boxxe’s Total Computers acquisition the first of many?

“I’m very bullish on the channel. So you’re likely to see more investments," Phil Doye tells IT Channel Oxygen

Doug Woodburn by Doug Woodburn
29 January 2024
in M&A
Phil Doye, boxxe

Phil Doye

Share on LinkedinShare on Twitter

Phil Doye says he is poised to invest further in the channel, whether via boxxe or in a personal capacity.

Public sector-focused reseller boxxe today announced it has snapped up corporate-leaning peer Total Computers in a deal that will propel its revenue runrate to north of £600m.

The move comes 14 months after Doye took a minority stake in Kettering-based Total. While boxxe ranked 12th in IT Channel Oxygen’s Oxygen 250 report, Total placed 56th.

View Oxygen 250

Talking to IT Channel Oxygen, boxxe CEO Doye emphasised that he plans to continue ploughing the proceeds from his 2015 sale of Kelway to CDW into the channel.

“Going forward, you may well see both boxxe, and me personally, making more full acquisitions or investments into businesses in the channel,” he confirmed.

‘Nothing is better than this industry’

Doye currently invests directly in around 15-20 firms, including not only boxxe and US IT solutions provider Ahead Group, but also fintech unicorns Revolut and Klarna (“for my sins, I’m quite a big fan of crypto”). He also holds indirect investments in numerous companies via about 40 private equity funds.

Phil Doye, boxxe
Phil Doye

But Doye said he is eager to put more of his money into a market he both understands and feels is poised for continued growth.

“If I think of all the investments I have, there are things that ultimately might grow faster or have a higher multiple. But when it comes to the ability grow businesses, get a dynamic market, get a growing addressable market, there is nothing better than this industry,” Doye said.

“What are the number one, two and three spend lines of every organisation in the world? It will be people-buildings-IT or IT-people-buildings, or buildings-IT-people etc. What businesses like us sell will either be number one, two or three.

“This is why when you look at the multiples, Insight and CDW are at record highs. Softcat in the UK may have fallen back a bit, but I think by general consensus they were overvalued in the first place and their share price decline is less about the health or future prospects of their business and more about being judged by a more sensible multiple.  

“It’s just a great place to have a business.”

‘My days of investing in fishing apps are over’

Doye emphasised that he is keen to invest in the channel both privately and through boxxe, drawing an analogy with Rigby Technology Investments and SCC. The former is currently carrying out a buy-and-build separately from SCC with ‘CloudClevr’, which recently made its third acquisition in the shape of Bamboo.

“Rigby Group [have] CloudClevr, because they like the channel,” Doye said.

“I’m very bullish on the channel. So you’re likely to see more investments, either through boxxe, or directly by me personally.

“My investment thesis has evolved a lot since selling Kelway and is now more focused on building a small but significant portfolio of channel investments alongside a managed portfolio or public market equities and private equity funds.

“The days of me rifle shooting private companies investments operating in areas like fishing apps and vertical farms for the home are thankfully behind me.”

Doug Woodburn
Website |  + postsBio

Doug Woodburn is editor of IT Channel Oxygen

  • Doug Woodburn
    https://itchanneloxygen.com/author/itchanneloxygen-com/
    ‘We needed to make a clear distinction’ – e92plus CEO on ‘e92spark’ launch
  • Doug Woodburn
    https://itchanneloxygen.com/author/itchanneloxygen-com/
    ‘How’s this not been done before?’ – channel talent pros unite to tackle common challenges
  • Doug Woodburn
    https://itchanneloxygen.com/author/itchanneloxygen-com/
    ‘The excitement is palpable’ – HP reveals dual channel ploy for refurbished PCs
  • Doug Woodburn
    https://itchanneloxygen.com/author/itchanneloxygen-com/
    ‘We redesigned the whole business’ – LIMA CEO on services reinvention
Tags: boxxefeatured
Previous Post

Cybersecurity: To buy or build?

Next Post

‘We’ve got to get to £1bn as soon as possible’ – boxxe CEO on Total Computers acquisition

Related Posts

Hege Store, Advania
Sustainability

‘Refurbished IT the primary choice, not a compromise’ – Advania CEO on Dreamhouse opening

5 June 2025
‘An important moment’ – Microsoft partners hail government Copilot experiment showing 26-minute daily saving
AI

‘An important moment’ – Microsoft partners hail government Copilot experiment showing 26-minute daily saving

4 June 2025
Change at the top for channel quartet
People Moves

Change at the top for channel quartet

3 June 2025
John Hayes-Warren, Intec
Distributor

Intec Micros unveils new networking and connectivity focus

3 June 2025
Mukesh Gupta, e92plus
Cybersecurity

‘We needed to make a clear distinction’ – e92plus CEO on ‘e92spark’ launch

2 June 2025
Elisha Kirkham, Softcat
Careers & Skills

‘How’s this not been done before?’ – channel talent pros unite to tackle common challenges

30 May 2025
Klaus Schlichtherle, Infinigate
Distributor

Infinigate outgrows its 11 major peers, reaffirms €5bn target

29 May 2025
‘By far the most important factor’ – analyst on Softcat’s share surge
News

‘By far the most important factor’ – analyst on Softcat’s share surge

28 May 2025
Next Post
Phil Doye, boxxe

‘We’ve got to get to £1bn as soon as possible’ – boxxe CEO on Total Computers acquisition

Follow Us

IT Channel Oxygen keeps you informed on the UK IT channel and its sustainable transformation. Learn more

  • About
  • Our Team
  • Partner with us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Cookie Policy (UK)

© 2025 IT Channel Oxygen

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
No Result
View All Result
  • Oxygen 250
  • Must-Know Distributors
  • Member area
  • KOcycle Zone
  • Big Interview
  • News
  • Indepth
  • About
  • Partner with us

© 2025 IT Channel Oxygen