16. Ikonic
Revenue: £102m (+27%)
Staff: 86
Specialism: Hardware
Top vendors: Lenovo, AURA AIR
HQ: Heywood, Lancashire
Specialising in servers, storage, networking, power and 3D printing, this Lancashire-based hardware distributor claims to hold £7m of IT stock. Its vendor partners include Lenovo.
In calendar 2020, Ikonic saw revenues hike 11 per cent to £80.6m, with UK generating £50.7m of the total. Its 2021 revenues hit £102m, according to numbers it shared with us.
Q&A with group manging director Chris Perry
What's been your biggest business highlight of 2022 so far?
Seeing growth across the group, especially in the EU and also launching new services including key board reprinting within Ikonics circular economy division.
Do you expect to grow in 2022?
Ikonic have met its growth targets for the first two quarters of 2022 and our forecasts indicate that this will continue for the remainder of 2022 and beyond.
What's the one market trend everyone else is missing?
Remembering that people buy off people. Relationships matter!
Have you made any significant vendor signings in the last 12 months?
Ikonic are constantly adding vendors and building close relationships with suppliers.
Which emerging vendor/technology are you tipping for take-off in 2022?
Tailored IT hardware solutions to meet customers "green agendas". Ikonics ITAD team have seen significant increase in interest across various sectors requesting very high quality remanufactured and refurbished products.
2022 will have been a successful year for your company if…
We continue to meet our growth and profit targets and most importantly have a happy and healthy team. Continuing to play an active part within our chosen charities is also a key objective.
Distributor share prices have cooled over the last 12 months. Is that a concern?
It's not something we track specifically at this time unless we decide to float.
How is the chip shortage impacting you, and when will it end?
This has had an impact on us all and we do not see it ending until sometime in 2023. Ikonics ITAD/Circular economy division is doing some great work filling the stock gaps while bringing value to customers and the wider environment.
2022 has seen a couple of blockbuster distribution mergers already. What M&A trends do you expect to see over the next 12 months?
It's a fragmented market and so we expect consolidation are every level.
What, if any, role does distribution have to play when it comes to sustainability?
As a larger business within the industry, we expect to lead the way, and we are. We have initiatives in place to lower our carbon footprint as well as looking at our processes in a bid to be Carbon Neutral by 2030. However, this is something that all businesses need to be looking at no matter what their size.
What's been your biggest business mistake?
The market for refurbished products has gained pace quicker than we were expecting in 2020. However, we are pleased to have corrected this with significant investment in our ITAD division in the last year or two with investment in more specialist staff and services like our new keyboard reprinting.
The countdown continues next week....
