VAR Tangible Benefit targets £20m mark by 2017

HP, Lenovo and Microsoft partner hit revenues of £13m for 2015

Reseller Tangible Benefit is setting its sights on the £20m turnover mark within the next two years as it expands its workforce.

The London-based VAR completed a management buyout in 2009, with its director Tim Trotman buying a 100 per cent stake in the firm from his former business partner and co-founder, Geoff Broadhurst, who moved out of the company.

Speaking to CRN, Stuart Wohlman, operations director at Tangible Benefit, said since the MBO the firm has doubled its revenues, hitting £13m for its last fiscal year ending 31 March 2015.

Wohlman said the company expects to do sales of £15.8m for 2016 and is hoping to achieve 20 per cent growth year on year, which would see it reach the £20m mark mid-way through 2017.

"The way we are going to do that is via recruiting high-calibre individuals; we are always looking for decent individuals like any reseller," he said. "We have the office space already, we don't need to move. So we have the infrastructure and we have the cash, we don't have any external borrowing and our cashflow is strong. Our growth is fuelled by an ongoing investment in sales staff."

As part of this recruitment strategy, the firm is taking on another six sales staff in the next two weeks. The company's headcount is currently 35.

Tangible Benefit sees its growth from a focus on "mid-market corporate Britain", with a lot of customers in the legal, financial and private healthcare verticals.

The VAR partners with HP, Lenovo and Microsoft, but Wohlman claims it remains vendor agnostic. The firm focuses on client devices, and also IT infrastructure with storage, networking and servers.

Tangible Benefit recently made it onto the updated list of 41 new advanced device resellers appointed through distribution by Microsoft this month. Wohlman said the firm is feeling "positive and excited" about its inclusion.