Distributors you need to know 2024 - Part Two
In the second instalment of our 2024 distributor list, we cover the mid-tier in the UK. See who made the list and stay tuned for part III next week!
Continuing on from part one, the second instalment of our distributor ranking this year features some major upheavals – as usual, most of the movement is in the mid-tier.
As these distributors face the rapidly shifting landscape of digital transformation, cloud adoption, and cybersecurity, we're witnessing a shake-up in the rankings driven by new partnerships, innovative service offerings, and an increasing focus on sustainability.
This year's changes reflect the growing importance of value-added services, with mid-tier distributors leading the charge in everything from niche technology expertise to tailored solutions for the SMB market.
In this second part of the countdown, we spotlight numbers 31 to 17, exploring how these companies are responding to both the challenges and opportunities of a post-pandemic world.
From cloud-first strategies to investments in new tech sectors, these distributors are redefining the role they play in the IT channel ecosystem.
28. Pax8
UK HQ: Bristol, Sommerset
UK revenue: £42.5m
A lot has happened in this global distributor's UK operations since the last edition of this list.
In 2022, Pax8 opened a multi-million-pound office in Bristol, which became a major tech hub for the company. The new office was designed to support the business's EMEA expansion and focus on employee flexibility, collaboration, and inclusivity.
This move aligned with Pax8's commitment to fostering a high-performance, diverse workplace. During the same year, Pax8 experienced 800 per cent growth in the region.
The global business raised $185m in equity funding in 2022, boosting its valuation to $1.7bn, and increasing its EMEA partners to nearly 3,500 by the year's end.
This investment helped accelerate its already impressive growth, with the company reaching a $1bn annual recurring revenue run rate.
However, in 2024, Pax8 faced challenges, including a five per cent workforce reduction due to economic conditions and a leadership change, with Scott Chasin taking over as CEO. Despite these hurdles, the company remained focused on expansion.
It also entered into a strategic partnership with Infinity Group, selling its end-customer business to Infinity, allowing Pax8 to maintain its focus on its 100 per cent indirect business mode.
What is your current headcount?
We currently employ over 1,700 team members worldwide.
What has been your highlight of 2024 so far?
In June 2024, Pax8 hosted Beyond, Denver, our prestigious three-day event held ahead of our inaugural Beyond EMEA, taking place in Berlin in October. Beyond, Denver, was a platform for us to reveal the future of our new Marketplace to more than 2,500 partners, vendors, journalists, and VIPs.
We have also been recognised as Microsoft's Global Partner of the Year for our excellence in innovation.
This success, coupled with Pax8's interconnected global community, exemplifies our commitment to enhance accessibility and foster robust relationships with vendors and partners.
Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
During 2023, Pax8 increased its top line revenue growth across the UK and EMEA. We feel confident that we will continue in our success-filled journey, having 38,000 partners that support over 550,000 customers, helping to create a highly promising, growth-filled future.
We're also committed to job mobility and continued employee growth. As part of this, we have restructured internally. A remarkable number of the UK&I sales team received promotions, and Pax8 boasts an impressive internal mobility rate, showcasing the company's dedication to both professional development and flexibility.
Have you made any major vendor signings this year?
At the beginning of 2024, we announced that Trend Micro, a global cybersecurity leader, is available on the marketplace. Its proven product and program align with Pax8's goal to improve access to market-leading cybersecurity solutions.
Our partnership with another vendor, Perception Point, will provide channel partners with cutting-edge security solutions for the modern workspace. Through its Advanced Threat Prevention solutions, partners can safeguard their customers with unparalleled threat prevention covering email, Microsoft 365 collaboration apps (Teams, SharePoint, and OneDrive), and web browsers from one platform.
More recently announced at Beyond, Denver, was a trio of leading providers that have joined Pax8's Marketplace to benefit the wider channel partner community:
Kalibr8, a provider of a comprehensive, multi-tenant cloud management platform enabling MSPs to better understand and adjust cloud computing environments, designed to streamline cloud operations and enhance efficiency.
MSPbots, a platform built for MSPs by MSPs to address pain points in people management, ticket processing, and more. With more than 70 integrations and a reporting platform that offers over 5,000 prebuilt widgets, dashboards, and datasets, MSPs can build the modern business practices they need to thrive.
SuperOps, a pioneering solution that automates and empowers the operations of MSPs, is the first PSA-RMM tool available for purchase through the Pax8 Marketplace
Are you planning any acquisitions this financial year?
While we don't publicly disclose our M&A strategy, we remain open to discussions if we find the right company with the right fit and culture.
If so, what are your acquisition criteria?
We are always open to discussions with businesses that can help us grow our market share, enhance operational efficiency, and expand into new markets or verticals.
What do you think are the biggest M&A trends impacting distribution this year?
One of the biggest trends is the increasing involvement of private equity and venture capital in the MSP (Managed Service Provider) space.
27. Purdicom
HQ: Wantage, Oxfordshire
UK revenue: £43.9m
Purdicom, which specialises in wireless, cloud, and security technologies, has seen significant growth and strategic changes since 2022.
The company, headquartered in Wantage, has expanded its product offerings, formed key partnerships, and strengthened its market position.
In 2022, Purdicom reported a revenue increase of six per cent, reaching £43.9m. This growth was driven by strong performance across its sales teams and consistent product availability from its vendors, the distie reported at the time.
The company also placed a strong focus on expanding its sales and marketing teams, setting the stage for further growth in 2023. By mid-2023, Purdicom expected revenues to exceed £47m.
One of the major developments for Purdicom in 2023 was its acquisition of UKB Solutions, a move that significantly expanded its presence in the CCTV and security markets.
This buyout marked the beginning of a broader "buy and build" strategy, with the goal of doubling the company's business within 18 months.
In terms of partnerships, Purdicom signed agreements with various vendors, including a notable deal with Ascom, making Purdicom the first UK distributor of Ascom's VoWiFi and IP-DECT solutions.
This partnership enabled the company to offer a wider range of wireless solutions, particularly in industries such as healthcare and retail.
26. Distology
HQ: Stockport
UK revenue: £45.7m
Since 2022, cybersecurity distributor Distology has experienced rapid growth, driven by private equity investment from NorthEdge Capital.
The company expanded its European presence, acquiring the Berlin-based firm Squareball, and moved its headquarters to Stockport .
The distributor also overhauled its leadership team in 2024, appointing Sarah Geary as CMO and Lance Williams as CTO, positioning itself for further market expansion .
Q&A with Lance Williams, CTO
CRN: What is your current headcount?
LW: 55 across the UK, Netherlands and Germany.
CRN: What has been your highlight of 2024 so far?
LW: Being recognised in the Love of Workplace Index as a Most Loved Workplace and launching our Apprenticeship scheme. We exist to nurture people in every aspect of the Distology business.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
LW: Absolutely! We are targeting healthy growth in revenue and headcount. We saw positive results on both counts in our Q1.
CRN: Have you made any major vendor signings this year?
LW: Yes, we signed OPSWAT, leading brand in cybersecurity for critical national infrastructure (CNI), and LastPass, leader in secrets management across consumer and enterprise markets, in the past year with a couple more on the horizon.
CRN: Are you planning any acquisitions this financial year?
LW: No plans for acquisition this year, however we will always consider options.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
LW: We've seen portfolio diversification as the key driver for acquisitions in the distribution market.
Organically growing a new discipline is quite difficult and lengthy so acquisition to attain a new discipline is the main driver. We also see a secondary driver around preparation for IPO or further investment.
CRN: What's one market trend that nobody is talking about?
LW: Bringing security assurance to the world of AI. I saw a guidance doc recently which advised us to temporarily block GenAI at work. I can't think of any more futile advice than to block it. It's here and it's here to stay.
Perhaps enable reporting on your web gateway on the use of GenAI platforms. Offer guidelines to employees and their families how to use it or not. Even consider deploying support for employees as they work (platforms like ProtectAI, Harmonic, and Lasso Security) – we ALL need to consider this NOW and do it from the point of supporting your employees to develop good behaviour when using GenAI, because you can't stop them.
First-gen technologies ‘securing' AI are sitting in-line, applying governance advice to people when reviewing what they're inserting into models and creating alerts and insights for businesses and pauses for thought for GenAI using employees. We ALL need to consider this now.
CRN: What have been your biggest business growth areas this year?
LW: Interestingly, our largest growth area is in smart building security with Verkada. They have been an important part of our portfolio for several years in the UK now and have really kicked through the gears thanks to their brilliant, highly motivated team and super slick, cloud-based management plane.
Their extending range of tech includes video security, access control, alarms, intercom, workplace, and air-quality. We've also enjoyed launching in the Benelux region and going into DACH. We're also seeing ramping growth in our operational technology cybersecurity portfolio.
25. e92plus
HQ: Surbiton, Kingston-upon-Thames
UK revenue: £51.4m
In 2022, e92plus achieved record revenues, positioning itself as a key player in the dynamic cybersecurity market.
This success was bolstered by their ability to adapt to the evolving needs of SMBs, providing critical cybersecurity solutions as these companies face growing threats and budget constraints.
In addition to expanding vendor partnerships, e92plus has been actively growing its managed services and cloud marketplace offerings, focusing on simplifying cybersecurity for their partners and customers.
Its specialised MSP division, e92msp, has been pivotal in this expansion, catering to the growing demand for managed cybersecurity services across Europe .
Q&A with Mukesh Gupta, CEO
CRN: What is your current headcount?
MG: We're currently at 55 people in the team, but actively recruiting and expect to be past 60 by the end of the year.
CRN: What has been your highlight of 2024 so far?
MG: Our CyberSocial partner event at Infosecurity Europe was our biggest ever, as we saw over 1,000 people requesting tickets! However, another big highlight is coming up shortly – we'll be celebrating our 35th birthday in September, which will be a fantastic occasion for everyone in the company to enjoy.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
MG: Absolutely, we are growing strongly ahead of 2023 (which itself was a record year), and growing the team to drive that is key to the plan.
CRN: Have you made any major vendor signings this year?
MG: Announcing our partnership with Tanium was a fantastic moment – adding another tier 1 market leader to the portfolio is always exciting, and they are undoubtedly a huge channel success that more partners need to know about.
CRN: Are you planning any acquisitions this financial year?
MG: Yes, watch this space!
CRN: If so, what are your acquisition criteria?
MG: We're very happy in our position as a dedicated cybersecurity specialist, so any acquisitions would support that.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
MG: Continued consolidation in distribution always gives everyone an opportunity due to the disruption it causes, opening up potential new partnerships or for new start-up distributors to grow.
Meanwhile, vendor M&A is much more challenging – channel strategies are reviewed, and more changes can slow momentum and the process takes its course. We're also seeing many technology investments being driven by vendors looking to build out their platform offering, so it's certainly changing how they are going to market and their value proposition.
CRN: What's one market trend that nobody is talking about?
MG: The continued value of services (especially technical) that distribution can offer. Whether it's the skills gaps, lack of cloud expertise, evolving convergence of VARs and MSPs – the ability for distribution to be vendor-agnostic, and bring a range of expertise across a wide spectrum of solutions, is increasingly essential to help the channel embrace the potential at a speed they couldn't do themselves.
CRN: What have been your biggest business growth areas this year?
MG: We're fully invested in cybersecurity – there are few better growth opportunities than where we are.
24. Ignition Technology
Revenue: £56.8m
UK HQ: Farnborough, Hampshire
Ignition continues to operate as an independent entity and report its own figures, despite being acquired by Exclusive Networks in 2021.
The VAD has forged several key vendor relationships since then, including with CultureAI and CrowdStrike, ExtraHop and Illumio.
Q&A with Dave Risk, UK&I country manager
CRN: What is your current headcount?
DR: Our team is currently 58 people and growing!
CRN: What has been your highlight of 2024 so far?
DR: Our continued commitment to redefining value in distribution.
A perfect example of this has been the successful launch of our business development team focussed on end user customers to create opportunities for our vendors and partners.
With extreme pressure to show real value, being able to create new opportunities for vendors and pass to channel partners is a key differentiator.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
DR: Yes, we are extremely confident that we will achieve our growth expectations for 2024.
CRN: Have you made any major vendor signings this year?
DR: Yes, we have extended our portfolio in Zero Trust, Human Risk Monitoring, NDR, XDR and AI Security.
We always look to bring exciting, fast growing technologies to market and wrap the Ignition value around the partnership.
So far this year we have attracted exciting new vendors to our leading portfolio, including CrowdStrike, Extrahop, Illumio, Culture AI, and Cranium.
CRN: Are you planning any acquisitions this financial year?
DR: M&A is a key part of our growth strategy so we are always on the lookout if the right opportunity comes along and is in line with our strategy.
CRN: If so, what are your acquisition criteria?
DR: High growth companies with the same DNA, culture and market shaping mindset as Ignition. Ingecom in Iberia and Italy, who we acquired in 2023, is a proof point of this.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
DR: Vendors are looking to offer more complete platform offerings to end customers so we will continue to see vendor M&A to support this.
This can have an impact on distribution and can often lead to two different channel strategies that need to be consolidated.
CRN: What's one market trend that nobody is talking about?
DR: We're seeing MSSPs looking for alternative and complimentary service offerings in order to allow them to differentiate themselves in a highly competitive market. Identity-as-a-service is an obvious one.
Note: We previously issued a version of this list stating a lower figure for Ignition. This has now been updated to reflect 2022 figures, the most recent set of accounts available via Companies House at time of writing.
23. Northamber
HQ: Chessington, Surrey
UK revenue: £67m
Since 2022, Northamber has expanded its business, notably through the acquisition of Tempura Communications in 2023, enhancing its unified communications and collaboration (UC&C) offerings.
This follows the company's earlier partnership with Yealink, a major player in the UC&C space. Northamber's strategy focuses on growing its audiovisual, IT, and cybersecurity sectors while maintaining its core document management and peripheral businesses.
Despite economic challenges, the company saw a modest 1.3 per cent revenue increase in 2023. However, rising costs, particularly in delivery and currency fluctuations, have impacted its profitability .
Q&A with Alex Phillips, chairman
CRN: What is your current UK headcount?
AP: Our current UK headcount is 110, including our UK subsidiaries AVM and Tempura Communications.
CRN: What was your highlight of 2024?
AP: The highlight of 2024 so far has been two significant acquisitions that reinforce our commitment to value add distribution and strategically expand our presence in Europe.
We acquired Tempura Communications in April 2024, a highly technical, value-add UC distributor with subsidiaries in Ireland and BeNeLux.
In July 2024, we acquired Renaissance Contingency Services, the go-to distributor for cybersecurity in Ireland.
CRN: Have you made any major vendor signings this year?
AP: In January, Northamber signed a direct distribution contract with Yealink. We are also in the process of signing several MSP-focused cybersecurity vendors and formalising growth plans in this space.
CRN: Do you expect to make any further acquisitions before the end of the year?
AP: We are always exploring acquisition opportunities. We have completed three acquisitions in the last four years, but we are disciplined in our investments, ensuring they are a strategic fit.
CRN: If so, what are your acquisition criteria?
AP: Our acquisition criteria focus on opportunities that fit strategically, including:
-
- Entrepreneurial, founder-driven companies with strong teams and aligned cultures seeking help to scale and protect their heritage
- A focus on high-touch, value-add approach with vendors and customers
- Alignment with our core technology areas
CRN: What do you think are the biggest M&A trends impacting distribution this year?
AP: Consolidation, with the big getting bigger, is clearly happening.
However, we believe this creates a significant opportunity for regional distributors who can offer flexibility and a personal touch combined with the infrastructure and reach to support vendors.
CRN: What's one market trend that nobody is talking about
AP: AI (that was a joke).
CRN: What are your biggest business growth areas this year?
AP: We have been investing heavily in growing our technical areas, including adding more services capabilities.
22. Ethos Technology
HQ: Banbury, Oxfordshire
UK revenue: $73m (correction)
Ethos' updated figures, shared with CRN, place it squarely in the second part of this ranking. The distie has focused on delivering next-generation storage, cloud, and data management solutions.
Its key vendor partnerships include heavyweights like Pure Storage, Cohesity, Hitachi Vantara, and Portworx.
The company aims to double its staff by 2024 as part of its growth strategy.
Ethos also focuses on cloud-native technologies, which have become increasingly important in its portfolio, particularly through their partnership with Portworx.
Omar Galbraith, CEO and Martin Whittle, CCO
CRN: What is your current headcount?
OG: Globally we have a headcount of 45.
CRN: What has been your highlight of 2024 so far?
OG: We are expecting to sign two new vendors that will help double our revenue and expand into the UAE, with our first hires now confirmed.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
OG: Yes. We are looking at 100 per cent growth this year with a budget to recruit 20 more staff!
CRN: Have you made any major vendor signings this year?
OG: Yes, and these are scheduled to be announced before the end of the year.
CRN: Are you planning any acquisitions this financial year?
OG: No.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
OG: It seems that all the real value-add niche distributors are selling up to the big three, leaving a gap in the market for distributors like Ethos.
CRN: What's one market trend that nobody is talking about?
OG: The use of technologies like portworx to make applications more portable, reduce the amount of required infrastructure to help with carbon targets and ESG. This will also bring a true hybrid cloud model allowing applications to reside anywhere within public and private clouds. Another big plus is to help move away from VMware migrating to containers and managing applications in Portworx and openshift."
CRN: What have been your biggest business growth areas this year?
OG: Vendor market share has been key for ethos this last year.
21. Intec Microsystems
HQ: Birmingham
Revenue: £75m
In 2023, Intec was acquired by Chiltern Capital, which sparked plans for rapid growth, aiming to surpass £100m in revenue by expanding partnerships and boosting its sales force.
Intec has also formed strategic alliances with new vendors, including Vertiv, enhancing its offerings in critical infrastructure solutions.
Q&A with John Lester, group sales director
CRN: What is your current UK headcount?
JL: 85 staff
CRN: What has been your highlight of 2024 so far?
JL: The opening up of our southern office plus being shortlisted for both PCR & CRN awards for 2024.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
JL: Yes. The market seems to be moving again, new staff and new vendors showing green shoots so optimistic for the latter part of 2024.
CRN: Have you made any major vendor signings this year?
JL : Ubiquiti named us as one of very few to distribute UI Enterprise Channel offering, NetAlly - Network Testing and Perception Point – Cyber Security are also big plays for us.
CRN: Are you planning any acquisitions this financial year?
JL: No, there will be a focus on our Southern Office, our services division and organic growth overall.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
JL: Cybersecurity seems to be very key in the current market.
CRN: What's one market trend that nobody is talking about?
JL: Licence-free Enterprise Networking – lower ROI.
CRN: What have been your biggest business growth areas this year?
JL: Networking in general.
20. Climb Channel Solutions
UK HQ: Devon
UK revenue: £82.8m
Since 2022, Climb Channel Solutions has been focused on expanding its technology distribution portfolio and strengthening partnerships with emerging vendors.
Most recently, Irish VAD DataSolutions officially rebranded to Climb Channel Solutions UK after being acquired by the global distributor.
Climb Channel Solutions is now switching focus to EMEA, expecting to generate 12 per cent growth in the region during its 2024 financial year.
Q&A with Dale Foster, CEO
Dale Foster, Climb Channel Solutions
CRN: What is your current headcount?
DF: Global headcount stands at 363. In the UK we employ 136 and in EMEA (Ireland, UK, Netherlands, France, Germany) we now have a headcount of 170.
CRN: What has been your highlight of 2024 so far?
DF: It has been a very busy year with lots of highlights to choose from, but I would say launching our new global identity has been a hugely pivotal milestone for Climb. We wanted to ensure we have one brand that represents us on the global stage.
We recently announced our latest acquisition - Douglas Stewart Software & Services, LLC (DSS), a separate division of the privately held Douglas Stewart Company. DSS is a Wisconsin-based, leading specialty distributor focused on SaaS solutions for education customers in North America.
With the DSS acquisition we are continuing with our organic growth by adding scale and expertise to our North American operations along with 20 new vendor partners including Adobe, Go Guardian and Incident IQ.
In addition to this, the DataSolutions integration after our acquisition in 2023 has been a highlight. Climb and DataSolutions share the same drive, vision, and approach to the channel, and that is why it is working so well. We are looking forward to DataSolutions fully rebranding to Climb in September.
We also announced earlier this year a number of strategic appointments to spearhead the company's continued expansion plans across EMEA. We now have country managers for Ireland, France, Benelux, and most recently have appointed a county manager to spearhead our DACH expansion.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
DF: With our new ERP system going live in H2 2024 we don't expect to increase headcount due to the efficiency gains from the new system.
In 2023, Climb surpassed $1.2bn in revenues globally. This year, we expect to continue to grow and are forecasting 12 per cent – 15 per cent growth globally in FY24 and 12 per cent growth in EMEA.
CRN: Have you made any major vendor signings this year?
DF: In the first half of 2024 we had several vendor launches in North America including Automox, Fortra, Flashpoint, Cloud IBR, and Jamf. We also announced a worldwide partnership with Panzura.
For EMEA, we launched eight new vendors including Scale Computing, Libraesva, Kiteworks, SeaGate and ControlUp.
CRN: Are you planning any acquisitions this financial year?
DF: On August 7, 2024, we announced the acquisition of DSS, a separate division of the privately held Douglas Stewart Company. DSS is a Wisconsin-based, leading specialty distributor focused on SaaS solutions for education customers in North America. The acquisition enhances Climb's presence in the region and bolsters its product portfolio.
Climb is continually looking for opportunities that meet our strategic objectives and growth strategy. Which are: 1. Organic Growth 2. Acquisition Potentials 3. Cloud Platform and Cloud Marketplace.
Mergers and acquisitions are a key part of our global strategy, whether it's a geographic reach, it's a team that we want to add to our team or whether it's vendors we want. Western Europe and the rest of EMEA will continue to be a target for us. We do have a lot of targets and are talking to quite a few but we will be selective in seeing where they fit in our overall plan.
CRN: If so, what are your acquisition criteria?
DF: If I look at our last three acquisitions (Spinnaker, DataSolutions and DSS), we make it our mission to identify companies that share the same DNA and align with our philosophy and our go-to-market.
In Western Europe, there are a lot of sub-$200m distributors that serve a specific category of products or geography. We have a strategic plan that asks whether potential targets are a good fit, do they have strategic vendors that we want, does their DNA match with Climb, or is it a geographic play for us.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
DF: Consolidation of players in the market will continue as distributors look to strengthen their full-service offering.
For us at Climb, any acquisition or tie-up deals rely on companies sharing values and principles. Climb is committed to people-driven success, believing in the power of the right people to propel our business forward.
CRN: What's one market trend that nobody is talking about?
DF: One market trend that nobody is talking about enough is the critical need to diversify focus beyond the big, established players and their technologies.
In the IT channel and specifically in distribution, there's a tendency to concentrate heavily on a few dominant vendors and technologies that generate the lion's share of revenue.
CRN: What have been your biggest business growth areas this year?
DF: One growth area in the UK is around our ability to wrap services around some of our key vendors, such as ManageEngine and Kiteworks.
19. ASM Technologies
HQ: Northwich, Cheshire
UK revenue: £98.6m
ASM Technologies focuses on emerging technologies such as AI, cybersecurity, synthetic data, and digital twins, with a particular focus on the healthcare and finance sectors.
ASM has expanded its portfolio and partnerships, emphasizing efficiency in software, hardware, and services distribution.
Sustainability has been a central theme for ASM, as it achieved net carbon neutrality and launched the "Green Team" to drive eco-friendly initiatives.
Q&A with Iain Tomkinson, sales director
CRN: What is your current headcount?
IT: 92
CRN: What has been your highlight of 2024 so far?
IT: As the result of delivering new systems (ERP and CRM) across the business, we are now starting to see efficiencies and data that simply would not have been possible before.
Not only has this investment in infrastructure enabled significant benefits, but it is also providing a different lens for data driven decision making.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
IT: Growth is central to our culture. We are focused on continuing to build a profitable and responsible company that does the right thing for our stakeholders and our community.
CRN: Have you made any major vendor signings this year?
IT: With the explosion of video use in most companies, it is brilliant to have Vimeo on board. We are seeing some great collaboration and some early success stories.
CRN: Are you planning any acquisitions this financial year?
IT: We have increased our turnover by 81 per cent over the past five years with no business acquisitions, however we are constantly exploring avenues for further strategic growth.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
IT: Geographical and value-added services seem to be driving M&A, with organisations looking to improve reach, leverage and margins. Consolidation is also a key M&A driver across Europe.
CRN: What's one market trend that nobody is talking about?
IT: Synthetic data is currently seen as a poor alternative, used only when GDPR prevents organisations from using real data.
Gartner predicts that by 2030 synthetic data will overshadow real data in terms of AI modelling. With AI growth accelerating, it is the data and modelling which will become key. Many industry sectors will rely on synthetic data to be able to join the AI hyperscale.
CRN: What have been your biggest business growth areas this year?
IT: The appetite for emerging tech is stronger than ever, fueled by the demand for AI, security and technologies that offer cost advantages and more value for users.
18. Ikonic
HQ: Hayword, Manchester
UK revenue: $118.4m
Since 2022, this UK-wide distie has expanded its operations, focusing on enhancing its infrastructure and product range, particularly across the UK and Europe.
Its Heywood, Manchester hub, alongside their German distribution centre, allows them to maintain high levels of stock and offer quick deliveries, including same-day services in the UK and next-day services across Europe.
These hubs hold over £15m in stock, enabling it to quickly fulfil orders without waiting on manufacturers .
In 2023, Ikonic moved towards employee ownership with the incorporation of Ikonic Technology Employee Ownership Trustee Limited, signalling a shift towards a more employee-centric governance model.
This new structure reflects their efforts to engage employees more deeply in the business .
17. CI Distribution
HQ: Basingstoke, Hampshire
UK revenue: £121.7m
Q&A with Jon Atherton, director
Jon Atherton, CI Distribution
CRN: What has been your highlight of 2024 so far?
JA: So many to mention, the market is slow in certain sectors but due to our niche place within the channel ecosystem we have been fortunate to see growth in many areas.
The launch of several new vendors to solidify our status within Rugged and gaming solutions has been a huge highlight.
But signing new brands, such as Autel and Eizo that address complementary use cases as our existing brands are supporting our growth intentions for the new year.
CRN: Do you expect to grow further by the end of the financial year – in terms of revenue and headcount?
JA: Headcount possibly…. In terms of further growth! Yes, of course that's the intention!
CRN: Have you made any major vendor signings this year?
JA: Yes, Autel and Eizo.
CRN: Are you planning any acquisitions this financial year?
JA: We are always open for opportunities within the distribution channel and have made enquiries over the last two years. It is about the right opportunity presenting itself at the right time.
CRN: If so, what are your acquisition criteria?
JA: The acquisition criteria is based around a comfortable fit with our current organisation, providing a complementary portfolio offering, relatable skills or location that complements our current activity.
CRN: What do you think are the biggest M&A trends impacting distribution this year?
JA: I am seeing several answers to this question, there is the ongoing trend towards consolidation within the industry as larger players acquire smaller, niche competitors.
We are seeing focus on building or acquiring specialist services aligned to digital and data services to enhance their relevance to vendors, resellers and end customers.
The drive towards greater sustainability and carbon reduction within our industry is also leading to the distribution channel investing in capabilities in this area.
Geographic expansion further shapes the M&A landscape, allowing companies to tap into new markets and increase market share.
CRN: What have been your biggest business growth areas this year?
JA: Growth in drones and our new products/vendors, EIZO, Crosscall and Man&Machine that target the Health vertical.
16. Nimans
HQ: Manchester, Greater Manchester
UK revenue: £126.2m
Acquired by Midwich in 2022, this specialist AV and security distie continues to report separate accounts and in fact, just published its most recent set this week, which indicates a nearly £6m revenue increase since the previous year, placing it firmly in the top 25.
Midwich, a specialist audiovisual distributor (and an upcoming honouree of this list) acquired Nimans for £27.5m, seeking to expand its presence in the unified communications (UC) market and further strengthen its offerings in security, networking, and telecom solutions.
The acquisition also brought key brand relationships, including Yealink, Jabra, and BT, under the Midwich umbrella.
By 2023, the merger had proven successful, with Nimans reporting growth in revenue and an expanded product portfolio.
15. Mayflex
HQ: Birmingham, West Midlands
UK revenue: £150.1m
Since 2022, Mayflex has made significant strides in expanding its product offerings and industry partnerships.
It became the official UK distributor for Pelco's security solutions, adding advanced surveillance products to its portfolio.
In 2024, Mayflex also signed an agreement to distribute Ruijie and Reyee by Ruijie network infrastructure products, targeting enterprise and SMB markets.
Over the past two years, the distie has also continued to bolster its IP security team in regions like Scotland, enhancing its local presence and support capabilities for security integrators.
This expansion was aimed at meeting growing demand for IP security solutions across the UK.
14. VIP
HQ: Warrington, Cheshire
UK revenue: £180.8m
Since 2022, VIP Distribution has experienced several key developments and expanded its portfolio through strategic partnerships and business growth.
One of the most notable changes was the distribution partnership between VIP and SYNAXON UK in February 2022. This collaboration made VIP's wide product portfolio, including offerings from top vendors like ASUS, AMD, Microsoft, and others, available through SYNAXON's EGIS platform. This move was aimed at improving stock visibility and pricing for customers while expanding VIP's reach across SYNAXON's extensive user base .
Throughout 2023 and beyond, VIP UK also entered new distribution agreements with significant brands like Corsair and ADATA. These partnerships have helped diversify its offerings in memory products, gaming peripherals, and other IT components, further cementing its place as a key player in the UK technology distribution sector .
These developments reflect VIP UK's focus on scaling its business and staying competitive in the technology distribution market through collaboration, portfolio expansion, and strong financial growth.