Advania UK hits £452m revenue in FY24
Results were fuelled by the buyouts of CCS Media and Servium
Advania UK’s annual turnover reached £452m in FY24, 370 per cent higher than its reported revenue last year.
The performance was driven by the company’s acquisitions in the last 12 months, which broadened its offerings in the hardware and VAR space.
In October 2024, it acquired independent IT solution specialist CCS Media, which added £273m in revenue and boosted its offerings in infrastructure, cloud transformation, AI, and managed services.
The move also consolidated the firm’s partnerships with hardware vendors such as Dell and Cisco, and introduced new relationships with HPE, Lenovo, and Logitech.
CCS Media’s leadership went through a post-acquisition reshuffle, with finance director Alan Honarmand retiring from the business, and chief commercial director James Hardy moving into the Advania UK business.
CEO Terry Betts has reportedly left the firm for personal reasons.
In June last year, the organisation also bought out Servium to expand its resale offering.
The takeover allowed Advania UK to deepen its specialised service offerings with expertise in managed services, IT procurement optimisation, and asset management.
These purchases also allowed the British branch to quadruple its client base to 9,500, compared to 2,000 before the buyouts, according to Geoff Kneen, CEO of Advania UK, in an interview with CRN.
Advania UK now employs more than 1,500 people across over 20 locations in the country.
“This year's exceptional growth is a testament to our unwavering commitment to delivering unparalleled IT solutions and services to our clients,” said Kneen.
“The strategic acquisitions of CCS Media and Servium have been pivotal in accelerating our expansion, enabling us to provide a comprehensive and robust portfolio of services.
This announcement comes on the heels of parent company Advania Group’s results for the full year 2024.
The group’s net revenue went up 11.3 per cent year-on-year to SEK 15.1bn (£1.16bn).
The company has also been acquisitive outside of the UK recently, as Advania Sweden swooped audio-visual and meeting room technology specialist Visuell Teknik in January.