Top VARs 2019

Top VARs is a report into the fortunes of the 100 ...

Top VARs 2019

A rundown of the UK's top 100 resellers and MSPs by revenue, and ohow they fared in their latest financial years.

77.  Solid Solutions Management

Revenue: £51.6m (+25%) Staff: 204
Net profit margin: 13.1%

77. Solid Solutions Management

Revenue: £51.6m (+25%) Staff: 204
Net profit margin: 13.1%

77  Solid Solutions Management With 23 regional offices in the UK and Ireland, this Leamington Spa-based outfit bills itself as CAD vendor Solidworks’ largest UK reseller. Following two big acquisitions in 2016 and 2017, Solid Solutions characterised 2018 as a year of consolidation and integration. Despite this, revenue rocketed by a quarter, with net profits swelling from £4.1m to £6.7m. During the period it invested in a newly incorporated 3D print reseller, Solid Print3D.

76.  IT Lab

Revenue: £51.7m (+28%) Staff: 499
Net profit margin: -27%

76. IT Lab

Revenue: £51.7m (+28%) Staff: 499
Net profit margin: -27%

76  IT Lab This London-based MSP is a £75m-revenue business following its takeover this August of rival Mirus IT, CEO Peter Sweetbaum told us. Accounts for Microsoft partner IT Lab’s year to 31 March 2019 show revenue swelling by over a quarter to £51.7m but with Mirus and 2018 acquisition Content and Code folded in, the pro-forma total was £69m. Although net losses widened to £14m, adjusted pro-forma EBITDA was “circa £8.8m”, Sweetbaum told us.

74.  Proact UK

Revenue: £53.1m (+6%) Staff: 231
Net profit margin: 6.3%

74. Proact UK

Revenue: £53.1m (+6%) Staff: 231
Net profit margin: 6.3%

74  Proact UK Despite admitting that its hardware business “continues to be challenged by new consumption models”, the UK arm of this pan-European storage integrator saw revenues rise six per cent in its year to 31 December 2018. Net profits almost doubled to £3.4m. Based in Sweden, the wider Proact Group has endured a mixed 2019, selling off its Spanish arm and posting profit and revenue declines.

72.  Elite Group

Revenue: £53.3m (+33%) Staff: 185
Net profit margin: 3.5%

72. Elite Group

Revenue: £53.3m (+33%) Staff: 185
Net profit margin: 3.5%

72  Elite Group Elite Group has a further £20m remaining in its acquisition war chest and is “actively looking for opportunities”, CEO Matt Newing said in June as he announced its purchase of IT support outfit MWL Systems. The Chorley-based unified comms specialist, which secured £30m in fresh funding from Lloyds Bank last year, saw revenue leap by a third in its fiscal year to 31 July 2018, although net profits dipped from £2.1m to £1.9m. It has made 17 acquisitions since 2008.