Bechtle AG, one of Europe’s leading IT service providers, has agreed a deal to acquire London-based Tangible Benefit. Tangible Benefit is a well-known name in the industry, achieving revenues of some 70 million euros in its 2021/22 fiscal year. Its core business is hardware procurement including related plug-and-play services and software licensing, complemented by security and network services and lifecycle management.
This transaction reinforces Bechtle’s commitment to its strategy for international growth and supplements its acquisition of service provider ACS Systems in November last year, whilst fostering an even stronger link for Bechtle between major vendor partners and the UK’s B2B customer landscape. It establishes a key presence for Bechtle in the London-market, and an expanded customer base in the corporate space, which will benefit strongly from Bechtle’s international capabilities.
For Tangible Benefit, joining forces with Bechtle secures a succession plan along with an attractive development potential for its employees, with all key senior leaders committed to remaining in post.
James Napp, Managing Director of Bechtle direct UK remarked: “I’m excited to work with the success-driven team at Tangible Benefit and to capitalise together on the substantial cross-selling opportunities for Bechtle’s solutions and services offerings into Tangible Benefit’s customers. This is another important step towards becoming one of the top 10 IT solutions providers in the UK.”
MHA’s Corporate Finance Team, led by Partners James Lawson and Justin Moss provided buy-side M&A advisory and due diligence on the transaction to Bechtle. James commented: “Tangible Benefit cements Bechtle’s commitment to growth in the UK as a key global market for IT services, as well as its strategy to expand further beyond the DACH region. It has been a real pleasure working with Bechtle’s committed team, and to showcase MHA’s ability to provide incisive commercial advice to large corporates on a transaction in a sector where our expertise runs deep.”
With more than 85 system houses and IT e-commerce in 14 countries, Bechtle is one of Europe’s leading IT providers and never more than a stone’s throw away. Founded in 1983, the Bechtle Group is headquartered in the southern German town of Neckarsulm and currently employs some 14,000 people. Over 70,000 customers from the industrial, trade, financial and public sectors rely on Bechtle to drive their digital transformation with a cross-vendor portfolio that spans the whole world of IT infrastructure and operations. Bechtle is listed on the MDAX and TecDAX indexes. According to preliminary figures, revenue in 2022 was around 6 billion euros.
Following the acquisition, Bechtle has grown to employ some 280 staff across four sites in the UK with consolidated revenues around 200 million euros. Read more at: bechtle.com