Horizon reveals equIP ambitions
Bullish growth targets unveiled for the security distributor
Horizon has countered claims that its recently acquired equIP business is losing momentum after unveiling bullish growth targets for the unit.
Security distributor equIP has been dogged by rumours of vendor and staff unease since former managing director Grahame Smee left to set up rival Cohort (CRN, 5 March).
In an attempt to set the record straight, Horizon UK managing director John Unsworth revealed that the division had taken on 12 to 15 heads since January with no further staff losses.
He also said he expected equIP, which Horizon bought from Matrix last February (CRN, 6 February 2006), to achieve sales of £40m to £50m this year, up 20 per cent year-on-year based on continuing operations, and 50 per cent in total.
“There were always going to be a couple of integration issues, but equIP is above budget for the first two months of 2007,” he confirmed. “All of our significant vendor contracts are absolutely secure in my mind.”
Laura Harman, who was appointed business unit manager of equIP in January, said that her top priority is to gain 50 per cent market share with all its top vendors.
The only major change planned is that equIP’s voice contracts, including those with VegaStream, ShoreTel and Zultys, will be passed over to Horizon’s ‘incubation’ unit, Horizon Solutions.
“Voice is not core to equIP and we didn’t want to distract it from the growth of its key vendors,” Unsworth explained. He added that the vendors would receive more focus from Horizon Solutions’s dedicated staff.
Steve Davis, vice-president at VegaStream, said he was “happy” with the change. “The voice over IP gateway is still a nascent market and needs focus and market development,” he said.
However, Scott Dobson, managing director at rival Vcomm, said: “This is a good way for equIP to compartmentalise vendors it doesn’t want to work with.”