59. Charterhouse

Revenue: £73.3m

Charterhouse returned to the Top VARs list on the back of strong FY24 performance, with gross profit rising to £30.2m and adjusted EBITDA climbing to £5.9m — both up year on year despite a drop in revenue to £73.3m. All growth was organic, and driven by standout performances in unified communications, networking and cyber security, especially across the NHS and local government.

The London-based VAR has built significant momentum in the public sector, with key wins delivered via CCS frameworks including Network Services 3, Technology Services 3 and G-Cloud 13. Growth in its networking unit was particularly pronounced, while its SOC (Security Operations Centre) played a pivotal role in cyber security revenue gains, with more customers now outsourcing their threat monitoring to the firm.

A sharpened focus on customer satisfaction and employee engagement has helped Charterhouse maintain upward traction across its business units. The company also launched a new project to enhance its data capabilities and has been investing in streamlining systems — part of a wider integration and restructuring effort that contributed to £3m in exceptional costs this year.

The business has seen demand for cloud-based solutions fuel recurring revenue lines in its unified communications arm, while its Microsoft practice has deepened focus on modern workplace, cyber and CoPilot AI deployments. Despite a net loss after tax of £0.9m (a £2.6m improvement on FY23), Charterhouse increased cash reserves to £4.6m through strong operating cash conversion above 100 per cent, signalling a more stable year ahead.