Distributors you need to know 2024 - Part Three
In the third and final instalment of 2024's distributor list, we rank the biggies - including the top four, which collectively delivered nearly 4bn in revenue over in their most recent reports
After all of your remarkable patience over the last two weeks, finally, we've reached that point! The final instalment of 2024's distributors to know and the top distributors in the UK (ranked by revenue generated in the UK).
Notably, after a staggering amount of consolidation this year, the gap between the Big Four and the rest widened, with the fourth-largest distie raking in almost a billion more than the fifth. Check out who made the list below.
For parts one and two, click here.
Finally, we're counting down…
13. QBS Technology Group
HQ: Wembley, London
Revenue: £208m
Since 2022, QBS Software has made several key moves to expand its market presence, enhance their channel centric software delivery platform and reinforce its sustainability efforts.
The company launched Orchestra with Insight Partners, a strategic decision focused on hypergrowth vendors like Live Action, Keeper Security and Automox, helping them penetrate the European market.
Strategic partnerships have been bolstered, adding over 500 SaaS tools onto QBS software delivery platform in the last 12 months.
QBS has also taken a leadership position in sustainability, becoming the first UK channel company to become a B Corporation and was the CRN B Corporation of the Year
The company's carbon footprint was independently verified and certified at 34.2 tonnes, in 2022. This aligns with QBS's broader ESG goals, improving operational efficiency, governance, risk mitigation and compliance. In 2023 QBS obtained Investors In people Gold certification.
Q&A with CEO Dave Stevinson, CEO
CRN: What is your current headcount?
DS: "180."
CRN: What has been your highlight of 2024 so far?
DS :"The acquisition of Maxtec was my personal highlight."
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
DS: "Yes, we are planning to grow by in excess of GBP100m and add at least 25 new colleagues to the firm."
CRN: Have you made any major vendor signings this year?
DS: "We have added over 400 vendors on to our Software Delivery Platform with over 11,500 Software and SaaS publishers now available to our channel partners."
CRN: Are you planning any acquisitions this financial year?
DS: "Absolutely - having made 15 acquisitions over the last six years, this is a core element of our growth strategy."
CRN: If so, what are your acquisition criteria?
DS: "There are 12 core elements, the most important two are shared vision and cultural alignment."
CRN: What do you think are the biggest M&A trends impacting distribution this year?
DS:"It is a dichotomy – those simply seeking scale and those seeking scale in a specialist niche."
CRN: What's one market trend that nobody is talking about?
DS: "I often hear conversations around value add in distribution, I rarely hear conversations around reducing unnecessary cost to the reseller."
CRN: What have been your biggest business growth areas this year?
DS: "Central government SaaS consolidation through co-selling with major VARS."
12. Infinigate UK
UK revenue: £216m
UK HQ: London
Infinigate UK has been on an aggressive growth path since 2022, marked by key acquisitions and a rebranding initiative. The company acquired Nuvias Group's cybersecurity and secure networking divisions, bolstering its footprint across the UK, Europe, and beyond, with a projected combined revenue of €1.4bn by 2023 .
Infinigate also strengthened its cloud services offering by acquiring Vuzion, a Microsoft cloud specialist, which has been rebranded as Infinigate Cloud. This acquisition aligned cybersecurity and cloud services, allowing partners to deliver secure cloud solutions at scale.
In April 2023, the company launched a new brand identity to reflect its transformation into a pan-European cybersecurity powerhouse.
Q&A with Justin Griffiths, managing director
CRN: What is your current headcount?
JG:"In the UK, we're currently at 120+ employees."
CRN: What has been your highlight of 2024 so far?
JG: "It's been a busy and productive 2024 with plenty of highlights but signing 4 new technology partners would be the pick of the bunch."
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
JG: "Yes, definitely. We are continuing to invest across all areas of the UK business and therefore expecting to see plenty of growth."
CRN: Have you made any major vendor signings this year?
JG: "Sophos has been our most significant signing this year. Expanding Sophos into the UK builds on our years of experience distributing them across Europe.
"Coupled with our excellent cloud marketplace platform, this move provides MSPs and resellers in the UK, with a specialised distributor and presents a significant growth opportunity for Sophos.
CRN: What is your acquisition criteria?
JG: "There are four key factors when it comes to acquisitions. First, location: we assess whether the business is in a country that aligns with our strategic goals, either by expanding our presence or entering a new market.
"Second, size: we determine if the business has the resources and capacity to enable us to hit the ground running.
"Third, we evaluate how the vendors & business's portfolio and go to market model align with Infinigate, ensuring it's a natural fit. Lastly, we obviously consider the profitability of the business. If it is not currently profitable, we assess how we can leverage our expertise to turn it around."
CRN: What do you think are the biggest M&A trends impacting distribution this year?
JG: "Continued consolidation in both vendor and distribution. For decades, the distribution market, including value-added distribution (VAD), has undergone waves of consolidation and transformation – these have proven to be an effective strategy for entering new markets.
"Consolidation and geographic expansion are crucial for competitiveness, especially in the high-growth cybersecurity space. Canalys predicts cybersecurity spending will reach $250bn in 2024, with distribution accounting for 72 per cent of cyber shipments.
"This growth will push vendors and partners to diversify their offerings. But only with specialised distributors can they get these to market, helping channel and vendor partners seize opportunities."
CRN: What's one market trend that nobody is talking about?
JG: "Not enough people are talking about the human-element involved with cyber security threats. Too often, the focus is on protecting the endpoint, but this should not come at the expense of educating the workforce and protecting users."
CRN: What have been your biggest business growth areas this year?
JG: "The biggest growth area for us this year is our secure cloud business. Our first quarter earnings showed a 16 per cent year-on-year increase across EMEA, with Europe growing strongly. This European growth is being driven through our cloud-based CSP, MSP & MSSP businesses. We expect this demand for secure cloud to continue in the year ahead."
11. Midwich
UK revenue: £264.5m
UK HQ: Diss, Norfolk
UK distributor Midwich experienced a 4.9 per cent drop in revenue from the prior year in its Companies House earnings for 2023.
It spent the year investing in inorganic growth through the acquisitions of SF Marketing, HHB Communications and Pulse Cinemas Holdings.
Since 2022, Midwich's UK arm has undergone several significant developments, reinforcing its position as a key player in the audiovisual (AV) distribution market.
The company's collaboration with leading brands, such as a renewed partnership with Barco for projection and image processing solutions, further solidified its presence in the UK .
Midwich has also been focused on signing new distribution deals, such as becoming the exclusive UK and Ireland distributor for SurgeX surge elimination and UPS products. These efforts have helped the company continue to expand its market share.
10. CMS Distribution
UK revenue: £316.6m
UK HQ: London
Since 2022, distribution powerhouse, CMS, has focused on expanding its reach through a series of acquisitions and strategic growth initiatives.
One of the major milestones in this period was the acquisition of sysob IT in 2021, a German-based distributor specialising in security and networking technologies.
This acquisition strengthened CMS's presence in Europe, giving it a footprint in eight countries .
Additionally, CMS has maintained an aggressive acquisition strategy, targeting new purchases every 18 months as part of its long-term growth plan.
The company aims to hit a £500m turnover target, following earlier acquisitions of companies like Interactive Ideas. The firm has confirmed it remains committed to pursuing more acquisitions to bolster its market position, particularly focusing on opportunities in Western Europe.
CEO Frank Salmon confirmed to CRN that the distie is still on the acquisition trail and due to make an announcement before the year is out.
Q&A with Frank Salmon, CEO
Frank Salmon, CMS Distribution
CRN: What is your current headcount?
FS: "Our UK&I headcount is approximately 400 permanent people and approx. 20 part-time people."
CRN: What has been your highlight of 2024 so far?
FS: "Working with one of our key resellers to develop a solution for the new lottery roll out to over 55,000 outlets across the UK, an amazing collaboration with three solution providers.
"We have several other projects in progress that demonstrate the value add that distribution brings to the channel."
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
FS: "Yes at CMS, we are very ambitious about our growth for 2024 and beyond in both revenue and headcount and expect to deliver in excess of ten per cent revenue growth this year."
CRN: Have you made any major vendor signings this year?
FS: "No major announcements so far, however we have some exciting new vendors to announce in the coming months that will result in more opportunities for our loyal customers."
CRN: Are you planning any acquisitions this financial year?
FS: "Yes, we are close to making an announcement towards the end of the year."
CRN: If so, what are your acquisition criteria?
FS: "We are always looking for opportunities to enhance our customer experience with CMS, that will deliver sustainable growth for the future.
"Ideally the target company will be a culture fit and aligned with CMS core values and be customer focused with growth ambitions."
CRN: What do you think are the biggest M&A trends impacting distribution this year?
FS: "There has been a lot of consolidation within the channel since the pandemic, with high interest rates some PE companies have held back investment making it harder for sellers, however the market for trade buyers is healthy provided the business is healthy and the valuations are realistic.
"The need for digital transformation in the channel will bring both opportunities and challenges for sellers as we progress with AI."
CRN: What's one market trend that nobody is talking about?
FS: "There is a lot of talk about AI which is fair enough, however there are few conversations about how to monetise AI in the channel."
CRN: What have been your biggest business growth areas this year?
FS: "Both the UK and Ireland are enjoying good growth across several niche segments and verticals, with networking being the major winner for 2024."
9. Giacom
UK revenue: £355.1m
UK HQ: Hessle, Yorkshire and the Humber
Since the last edition of this list in 2022, Giacom, a Hessle-based cloud services provider, has experienced significant growth and transformation.
One of the major developments was its expansion through the acquisition of intY, a UK-based Microsoft cloud services provider.
This acquisition, finalised in early 2023, solidified Giacom's leadership in Microsoft licensing and expanded its customer base by adding intY's 1,500 partners to its own ecosystem.
This move was strategic in strengthening its cloud service offerings to small and medium-sized businesses (SMBs) across the UK.
8. Arrow ECS
UK revenue: £421.1m
UK HQ: Harrogate, North Yorkshire
Since the last edition of this list, Arrow's UK business has seen some fairly dramatic changes.
In terms of leadership, the company has seen several notable changes over the past two years. UK chief Dan Waters left the company in 2022 after a
13-year tenure and was succeded by Anthony Dobson as regional director of sales for the UK and Ireland.
Nick Bannister was promoted from VP sales for the UK and Ireland to President EMEA & ANZ for Arrow's enterprise computing solutions business.
With these changes, Arrow ECS's business remained resilient. Its enterprise computing solutions segment continued to perform well, particularly in Europe, even amid global supply chain challenges .
Q&A with Anthony Dobson, regional director sales, Arrow enterprise computing solutions UK&I
CRN: What has been Arrow's highlight of 2024 so far?
AD: "The continued growth of our cloud management platform, ArrowSphere Cloud has really benefited our channel partners.
"We have expanded our vendor line card and increased the options for channel partners to create opportunities across the platform, including SaaS and XaaS, as recurring revenue streams.
"We also came into 2024 with a significant update to ArrowSphere Cloud, which included cost optimisation (FinOps), security (SecOps), and sustainability (GreenOps) dashboards.
"The launch of an initial release of ArrowSphere Assistant, an AI-powered cloud business companion in April is also a particular highlight. Powered by Microsoft Azure AI, ArrowSphere Assistant's purpose is to help Arrow channel partners to unearth new business opportunities, increase efficiencies and discover new revenue potential, managing their cloud business through ArrowSphere Cloud."
CRN: Have you made any major vendor signings this year?
AD: "While we continue to add to our vendor line card, we are also focusing on growth within our existing vendors across enterprise, mid-market, managed services, and cloud.
"Some significant new vendor agreements include Equinix, Schneider Electric, Scality, and we have also renewed and expanded our reseller distribution agreement with VMware by Broadcom."
CRN: What's one market trend that nobody is talking about?
AD: "We are seeing a continued shift towards ‘platformisation' across the industry in the drive to make it easier for channel partners to access and manage solutions throughout the full lifecycle, as well as upsell and transact."
7. Westcon-Comstor
UK revenue: £468m (company provided figures)
UK HQ: Bracknell, Berkshire
Part of Johannesburg-listed IT group Datatec, this specialist cybersecurity, networking and cloud value-added distributor saw global revenue increase 8% year-on-year to $3.69bn in its FY24 (1 March 2023 – 29 February 2024, according to figures provided to _ CRN ._
Propelled by its data-driven approach to driving partner success and growth, gross profit was up 23 per cent and adjusted EBITDA saw a 26 per cent increase.
Q&A with Callum McGregor, COO and CFO
Callum McGregor, Westcon-Comstor
CRN: What is your current headcount?
CM: We currently employ 560 people in the UK, part of our total global headcount of 3,700.
CRN: What has been your highlight of 2024 so far?
CM: The acquisition of Rebura, an award-winning AWS advanced service partner and solution provider, back in January was an important moment for our business and further strengthened our cloud capabilities and channel-focused services offering.
The fact that the acquisition was followed by the launch of our innovative AWS Marketplace programme for partners and vendors adds to its strategic significance.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
CM: "Revenue-wise, we are anticipating another year of growth and are on track to achieve this. Our H1 FY25 results are due to be published in October and these will provide more information on our year-to-date performance."
CRN: Have you made any major vendor signings this year?
CM: "From a UK perspective, recent additions to our vendor portfolio include AppViewX, a leader in automated machine identity management (MIM) and application infrastructure security. Meanwhile we expanded to the UK our existing relationship with multiple vendors including Juniper Networks and Vectra AI, a leader in hybrid attack detection, investigation, and response. As always, we are reviewing options to add other vendors to our portfolio across the UK, EMEA and indeed globally."
CRN: Are you planning any acquisitions this financial year?
CM: "We said back in January that our acquisition of Rebura represented a new pillar in Westcon-Comstor's growth strategy to focus on targeted, strategic acquisitions, and this is still the case."
CRN: If so, what are your acquisition criteria?
CM: "We are always alive to opportunities to strengthen, expand and evolve our offering to partners, and this includes the possibility of acquisitions. Any acquisition target would naturally need to bring something new to the table, either in terms of capabilities, skills, expertise or geographic/vertical market reach."
CRN: What do you think are the biggest M&A trends impacting distribution this year?
CM: "It's not for me to comment on other distributors' activity, but from a Westcon-Comstor perspective I'd refer to my previous answer and say there is a clear desire to explore acquisitions as a potential route to ensuring market differentiation and gaining a competitive advantage."
CRN: What's one market trend that nobody is talking about?
CM: "For me, the importance of data and its ability to drive partners' transformation and growth is still flying under the radar to a certain extent.
"We found through research earlier this year that 97 per cent of partners see data as vital as they shift to recurring revenue models, which is why we've adopted a data-driven approach that equips partners with insights into growth and lifecycle selling opportunities. "
6. Exclusive Networks
UK revenue: £553.7m
UK HQ: Alton, Hampshire
The UK arm of this France-based distie has seen several key developments recently as part of its broader global expansion. The company has integrated 2021 acquisition Ignition Technology, a specialist distributor for SaaS-based cybersecurity startups, into its global operations.
Ignition, however, still reports its UK results as a separate entity, hence its inclusion in this list.
In terms of partnerships and certifications, Exclusive Networks achieved Infoblox's first Diamond-Level Distributor Certification for the EMEA region and won multiple Fortinet ATC Awards in 2024, including "Global Gold Marketing Innovation" and "EMEA Partner of the Year."
Financially, Exclusive Networks delivered a strong global performance in the first half of 2023, reporting €1.78bn in gross sales.
The company also completed a €25m share buyback programme in July 2023 and signed a €15m loan agreement with Bpifrance to support its growth strategy.
5. ALSO Cloud UK
UK revenue: £620m
UK HQ: London
ALSO Cloud UK marks a new entry into the list as the Germany-based parent group officially launched UK operations in 2023, as part of a strategy to expand into the cloud services market.
Within its first year, ALSO Cloud UK focused on recruiting partners, aiming for a base of around 80, to solidify its presence and tap into the growing demand for cloud solutions in the region .
Then, in July 2024, another bombshell - ALSO Group announced a merger with UK distributor Westcoast.
This merger, pending regulatory approval, positioned ALSO to significantly expand its UK footprint and challenge major competitors like TD SYNNEX.
The deal also strengthened its distribution network across Europe, with Westcoast chairman Joe Hemani becoming a major shareholder in the new entity .
Q&A with Mark Appleton, chief customer officer at ALSO Cloud UK
CRN: What is your current headcount?
MA: "ALSO Group currently consists of 4,000+ members across 144 countries worldwide."
CRN: What has been your highlight of 2024 so far?
MA: "ALSO was awarded the EMEA Copilot Seats Champion award from Microsoft for our performance and growth in selling and deploying Copilot for Microsoft 365 in FY24Q3 - a great achievement all thanks to our EMEA teams."
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
MA: "We are happy with the size and specialities of the current team and have seen expansion in both the UK and the wider ALSO Group.
"Our focus for the remainder of the financial year has returned to revenue growth. With the recent Westcoast partnership announced, this is expected to be one of a handful of significant growth points for both revenue and headcount."
CRN: Have you made any major vendor signings this year?
MA: "For ALSO Cloud UK, we continually review industry and market trends to ensure our strategy of providing our partners with leading technologies. We are dedicated to collaboration, not just between ourselves and our vendors, but also ensuring that vendors have access to each other's expert knowledge.
"This was most recently showcased at our Cloud Summit in June of this year, which featured discussions hosted by our team at ALSO and talks from vendor keynote speakers."
CRN: What do you think are the biggest M&A trends impacting distribution this year?
MA: "We believe that MSP acquisitions are driving the biggest indirect provider losses and gains. Channel clients have realised the level of service and security that MSPs provide, and so offer a steady stream of revenue as loyal customers. 2024 marks a return to pre-Covid levels for M&A deals in the sector, but it's clear that MSPs hold the sway regarding continuing growth."
CRN: What's one market trend that nobody is talking about?
MA: "The rise of ransomware as a service (RaaS) has proven to have increased risks for SMEs, many of which continue to believe that their size excludes them from being the target of cybercriminals.
"In reality, our teams have identified that attackers often prioritise smaller businesses, as they are more likely to pay for attackers to leave them alone and overall have a weaker security posture to exploit.
"Thus, providing access to cybersecurity partners for our SME clients has been a priority to shore up cybersecurity on a wider level in the market – we feel responsible for taking charge with meaningful leadership across channel cybersecurity needs."
CRN: What have been your biggest business growth areas this year?
MA: "We have seen our greatest growth areas in AI, security and Azure migrations to the cloud. Digital transformation and the onboarding of AI and generative AI tools for enhanced operations have been a big factor for the SME market.
"So, with ALSO's expansive vendor partnership list and accessible training programs, we're in the best position to provide the support needed for businesses to grow."
4. TD SYNNEX
UK revenue: £1.5bn
UK HQ: Basingstoke, Hampshire
Also a relatively new addition to the list, TD SYNNEX, the result of the 2022 merger between Tech Data and Synnex, instantly created a global powerhouse.
We’re ranking it here based on publicly reported UK revenue, however representatives for TD SYNNEX tell CRN that its GII, a metric widely considered to be a better representation of channel businesses, reached £2.7bn in its most recent financial year. TD SYNNEX reports revenue, instead of GII as its topline Companies House figure since the introduction of the IFRS reporting standard in the UK.
In January 2023, TD SYNNEX opened a new UK headquarters in Chineham, Basingstoke. This move was part of a broader pivot towards sustainability, with the new office emphasising eco-friendly building practices and in-office work culture.
By November 2023, TD SYNNEX UK had transitioned to using 100 per cent renewable electricity across all its operations.
This year, the business welcomed back Miriam Murphy, who took on a significant role within TD SYNNEX, having been appointed as the president of Europe effective April 8, 2024.
Her return to the business marked a key leadership transition, following the promotion of former European president Patrick Zammit to the top job and the departure of former CEO Rich Hume.
Murphy brought a strong track record in the industry, previously holding a leadership position at NTT Europe, and before that, she made notable contributions at Avnet Technology Solutions where she was instrumental in expanding the distributor's IBM business in the UK.
3. Ingram Micro
UK revenue: £1.6bn
UK HQ: Milton Keynes, Buckinghamshire
Over the last two years, Ingram Micro UK has focused on cloud expansion, sustainability, and restructuring efforts.
In 2022, the company confidentially filed for an IPO, marking a move to return to public ownership after being taken private by Platinum Equity in 2016. This decision was part of a broader plan to streamline and refocus its business.
Ingram Micro UK has also made strides in cloud services, expanding its portfolio with partnerships, including SkyKick, to provide migration and cloud management solutions for UK partners.
The distributor has also collaborated with Consenna to promote sustainability in the channel, giving resellers access to tools aimed at driving environmentally focused sales .
Additionally, Ingram Micro has faced challenges, including layoffs in its EMEA operations, reflecting changing global and local market conditions.
Despite this, the company continues to evolve its offerings, particularly in the cloud and sustainability sectors.
2. Exertis UK
UK revenue: £1.7bn
UK HQ: Burnley, Lancashire
In early 2023, Tim Griffin, previously managing director of DCC Technology (Exertis' parent company), became CEO of Exertis UK.
Under his leadership, Exertis shifted its focus more toward retail and B2B opportunities, reflecting an effort to capitalize on its largest organic growth prospects.
The company faced operational hurdles throughout 2022 and into 2023.
Supply chain constraints, labor shortages, and Brexit-related logistical issues severely impacted Exertis' UK revenues and profits.
These challenges, exacerbated by global semiconductor shortages and the implementation of a new warehouse management system, created a "speed bump" for the business.
Despite these difficulties, Exertis managed to post an increase in overall profits in 2022, although it acknowledged reduced demand in the UK market.
The company also underwent significant internal restructuring in 2023, which included staff cuts and reshuffles, with approximately 400 total roles affected and 50 staff laid off.
This move was part of a broader organisational evolution aimed at streamlining operations.
1. Westcoast
UK revenue: £3.1bn
UK HQ: Theale, West Berkshire
Arguably no company exemplifies the long-term, M&A heavy transition impacting distribution better than this year's largest distie, Westcoast.
In 2022, the company formed a major partnership with Dell Technologies, enhancing opportunities for resellers in the UK channel.
That same year, long-standing managing director Alex Tatham announced his departure after eight years at the helm – this was short-lived, however, as Tatham returned in 2023 to lead the business through its next phase of growth.
In 2022, Westcoast merged with German distributor KOMSA, forming a €5.5bn powerhouse.
This merger granted Westcoast access to the German market and strengthened its European footprint.
The company also reported strong financial growth, with revenues and profits continuing to rise as it expanded its product portfolio
By 2024, Westcoast acquired Spire Technology, further boosting its UK distribution capabilities. The acquisition was part of its strategy to expand its vendor portfolio and customer base.
Finally, the M&A trail concluded this year with Westcoast's merger with ALSO Group, which Tatham, who left the business following the deal, positions the regional distie as a global entity ready to rival TD SYNNEX.