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08 Jan 2010
Pan-European distributor Magirus has revealed that acquisitions could be on the agenda in 2010 as it looks to re-ignite its growth plans.
The privately held firm halved in size two years ago when it offloaded its IBM and HP arm, but set itself the goal of growing back up to the €600m (£539m) mark within four years.
Sales for the year to March 2010 are on course to improve by around 10 per cent to €320m-€330m, with the UK contributing about 17 per cent of the total.
Further reading
Chief operating officer Christian Magirus admitted the recession had delayed its growth plans.
“We think we have the portfolio to get back to a similar size within three or four years,” Magirus said. “This will primarily be through organic growth, but we might look to buy if there is an opportunity.”
Magirus will look to imminently widen its UK portfolio in the data centre space, he added.
Alastair Edwards, senior analyst at Canalys, said: “I see Magirus as quite vulnerable to acquisition. The challenge is how it makes itself relevant at a European level when the market is moving towards a small group of consolidated players.”
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