4. Total Computers acquired by boxxe
When: January
Magnitude
Total Computers turned over £89.7m in calendar 2022, ranking 56th in the Oxygen 250.
Rationale
Public sector reseller boxxe is looking to hit £1bn revenues as quickly as possible as it looks to challenge the scale of larger rivals such as Softcat and CDW.
Total Computers emerged as the most obvious acquisition target for the York-based outfit, due to its prowess in the corporate market. The deal also hands boxxe some high-end consultancy skills..
The acquisition comes 14 months after boxxe CEO Phil Doye seized a minority stake in Kettering-based Total.
What the CEO said
“We feel like we’ve got to get to £1bn as soon as possible. It’s not that £1bn is particularly important in itself but more that it sets you apart from a scale perspective and you are no longer separated from the market leaders by a decimal point,” Phil Doye
Fun fact
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. He also holds indirect investments in numerous companies via about 40 private equity funds.
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