VAR Calyx has claimed that it will not hesitate to snap up larger rivals after receiving clearance for its management buy-out (MBO).
Backed by private equity house Alchemy, the reseller is lining up targets in the managed services arena to grow turnover to €500m within three years. The first acquisition could be announced as early as this month.
Alchemy has a 54 per cent stake in Calyx following the VAR’s delisting from the London and Dublin stock exchanges, with management taking control of the rest.
Andy Mills, managing director at Calyx’s Matrix arm, told CRN: “The MBO has left us with fewer shareholders, less regulatory burdens and a substantial war chest for acquisitions. We are not scared of buying a company larger than we are.
“We’re after firms with turnover of more than £10m that offer managed services, have lots of customers and add value to what we’re doing already.”
Mills hinted that Calyx, which has strong relationships with Nortel, Foundry and Extreme, may look to bulk up with Cisco and Avaya players, which it does not carry in the UK.
He added that the VAR was keen to extend its prowess in managed application and mobility services.
The reseller is also looking for potential targets on the continent, Mills said. “We want to be the largest IT business in Europe in revenue terms,” he stressed.
Manny Pinon, sales director at distribution/integrator hybrid Ampito Group, said: “This is a huge departure from Calyx’s original concept, which was to be niche and pick alternative vendor strategies. It will be interesting to see how it moves forward in terms of integrating any future acquisitions, particularly in the voice arena.”
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