French VAR C'PRO is aiming to hit €1bn revenues by 2025 as part of an M&A strategy which will see it acquire 10 competitors every year.
Print provider C'PRO merged with IT services firm Quadria at the start of 2018 to create a €300m-revenue entity with 1,000 employees.
Since then, it has added a further 700 staff to the business through acquiring swathes of smaller print and IT resellers across France.
Speaking to Channel Partner Insight at Canalys' EMEA Channels Forum in Barcelona last week, former Quadria boss and current general director for C'PRO, Gilles Perrot, said the firm plans to add around €70m in revenue to the business each year until 2025 through M&A.
The goal is to reach €500m in revenues by 2021 and €1bn by 2025.
"Acquisitions right now are very affordable," he said. "You can borrow a lot of money at a very low cost, so financially it's very easy."
"There's no doubt a company can double or triple its size in just a few years, because acquisitions are cheap and interest rates are so low."
Through acquiring Quadria, C'PRO, which claims to be Canon's and Toshiba's number one print partner in Europe, has now moved beyond its print provider roots into new areas of IT, including reselling PCs and infrastructure, systems integration, managed services, cloud, security and telco services.
But, according to Perrot, C'PRO's M&A strategy will strike an even 50-50 balance between acquiring print suppliers and other IT houses.
He said that C'PRO has gained a reputation in France for being a market consolidator, and claims that several small companies approach the firm to be acquired every week.
"We don't do any prospective searching at all. Everyone in France knows that C'PRO is acquiring and we have a lot of approaches," he said.
C'PRO's IT business competes with the leading resellers in France, claims Perrot, including SCC, Econocom and most recently Bechtle after it acquired Inmac Wstore last year.
Quadria has remained a separate entity since it was acquired in 2018, claims Perrot, but C'PRO's other acquisitions have been rebranded under its company colours. Perrot said this is because Quadria caters for larger customers while C'PRO caters for the SMB space.
After acquiring Quadria, C'PRO adopted a regional structure, where each province of France has a team of 150 to 250 staff and is led by a regional MD.
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