London-based CMS Peripherals, which is a subsidiary of the StorIT Group, has purchased CCI Distribution for an undisclosed amount.
London-based CMS Peripherals, which is a subsidiary of the StorIT Group, has purchased CCI Distribution for an undisclosed amount.
Storage distributor CMS provides data information storage and security products. The deal for CCI marks its first acquisition to date.
According to a statement the acquisition was made as the combined product portfolio of CMS and CCI has ‘minimal overlap’ and addresses the ‘entire spectrum’ of data storage demands of SMEs and large businesses.
Additionally CMS says the deal results in it becoming the UK and Ireland’s largest independent data storage distributor in terms of revenues, employees and brands sold with immediate revenues of €145 million (£128 million) and 175 employees.
Frank Salmon, founder and managing director of CMS, says that CMS saw an opportunity to buy a ‘like-minded’ distribution business.
He adds: ‘The acquisition will also support our three-year business objective of 20 per cent annual growth that would take us to turnover of €250 million.
Results from Companies House shows that Yorkshire-headquartered CCI recorded losses of £130,000 and revenues of £32.8 million in its most recent financial year.
Managing director of CCI, Paul Roughley, comments: ‘It’s a great move for our teams as well as all the vendors we represent. Being part of a larger distribution business immediately and significantly expands the sales opportunities for our combined portfolios.’
As part of the deal Roughley is to remain on the board and has additionally been appointed to a seat on the board of CMS’s main holding company, StorIT Group.
