70. Agilico

Revenue: £66.1m

Agilico reported a strong set of FY23 results, with revenue up 25.8 per cent year on year to £63.6m and adjusted EBITDA rising 34.3 per cent to £10.6m. The group, which is headquartered in London and led by regional managing directors Warren Colby (North), Andy Young (South), and Andrew Alkman (Scotland), attributed the growth to improved trading conditions, organic momentum across all divisions, and the acquisition of Capital Document Solutions – a long-established Scottish provider that brings scale in a key UK market.

Positioning itself as a leading supplier of workplace technology, Agilico operates through three main divisions: Agile Print, Agile Docs and Agile Tech. Agile Print remains the UK’s largest independent Managed Print Services (MPS) provider and continued to show resilience, growing revenues by 21.6 per cent year on year. Agile Docs, the group’s software and consulting arm, posted an eye-catching 114.8 per cent revenue jump, driven by heightened demand for document automation as customers responded to labour shortages. Meanwhile, Agile Tech – which offers IT and telecoms solutions – delivered 12.1 per cent revenue growth, supported by customer migrations from PSTN and ISDN lines to Agilico’s hosted VoIP offering.

The group is also investing heavily in IP development to support its mission of “making work easy” for customers. Its Agile Toolkit – a proprietary product library – remains a key pillar of that strategy. Within this, the Verify automated accounts payable solution secured 28 new contract wins during the year. Management has flagged further cross-sell opportunities across its established customer base, particularly in Agile Print and Agile Docs.

Gross profit rose to £36.7m, with margin increasing to 57.7 per cent despite inflationary headwinds. The business monitors its performance using KPIs including turnover, gross profit, adjusted EBITDA, machines in the field (MiF), Agilico Connect seats, and the number of Verify customers.

With momentum continuing post-year end and a focus on expanding its proprietary offering through internal development and targeted M&A, Agilico looks well positioned to push deeper into automation and software-led growth in the medium term.