MHA Corporate Finance Team advises IT services provider Bechtle AG on acquisition of Tangible Benefit UKMarch 21st 2023
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.”
“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.”
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