Ambitious Dell partner Solutionize Global files for voluntary liquidation
The Gold-level Dell partner claimed to have grown revenues from £7m to more than £100m between 2019 and 2021, but has now filed for voluntary liquidation
An ambitious Dell partner which claims to have surpassed £100m revenues this year has filed for voluntary liquidation, CRN has learned.
In a general meeting on 26 October Solutionize Global's members agreed to proceed with a voluntarily liquidation as a solvent company, according to a Companies House filing.
Malcolm Edward Furgusson was appointed the liquidator to distribute the company's assets among existing stakeholders.
One of seven Rising Stars in CRN's Rising Stars report, Gold-level Dell partner Solutionize Global grew revenues by a whopping 536 per cent in its fiscal year ending March 2020 - from £6.6m to £41.9m - making it the fastest growing company by some stretch in this years' VAR 350
Its net profit also ballooned from £400,000 to £3.5m in the same fiscal year.
In an interview with CRN earlier this year, its CEO David Bentley attributed the growth to winning a large deal with NHS Digital through G-Cloud as well as securing a managed services deal with Vodafone. Despite having its roots in professional services, the firm shifted towards selling more product, Bentley said, and made a number of new senior hires into the business from Dell.
Bentley, who was recognised in LDC's Top 50 Most Ambitious Business Leaders in 2020, added that the business surpassed £100m revenues in its fiscal 2021.
The West Yorkshire firm took on some outside investment during the pandemic, Bentley said, which was put towards improving its internal IT systems.
Several of CRN's Rising Stars have gone on to be acquired by larger competitors. Sol-Tec was snapped up by Content+Cloud in March 2020. Pentesec was bought up by Charterhouse at the beginning of this year, while QUANTIQ sold up to Avanade just last month
CRN contacted Solutionize Global for comment but did not receive a response by the time we went to press.