Dutch MSP Solimas Group made its fifth acquisition in two years yesterday, buying a 75 per cent stake in local Microsoft and VMWare partner B-Critical.
Solimas Group CEO, Maarten van Montfoort, says that the buy is part of a targeted strategy to become the country's "best" MSP within two years, via a buy and build route.
"Our model is that we buy majority stakes in existing IT companies, some of which have existed for 30 years," he said.
"And through this, together, we formed this national group very quickly, with four locations throughout the Netherlands. So, we're always close to our customers and close to our employees."
All his targets are small to medium-sized MSPs in the Dutch market that boast a profitable business.
"But they also believe in our vision that they can accelerate at a much higher pace because of economies of scale and the sharing of resources," he added.
Van Montfoort said that one of his earlier buys was a hosting provider, which means that one of the groups four offices sells outsourced services to resellers and system integrators.
It means that 10 to 15 per cent of total revenues are derived through selling to other channel partners.
However, at the other three locations, 100 per cent of Solimas' business is with end users.
Van Montfoort described his MSP as small but focused on quality, with start-up levels of rapid growth.
"Our ambition is not to become the largest MSP here, because very often that doesn't go hand in hand with quality.
"Our strength is our agility and our core values of trust and being close to the local customers."
He plans for the company to grow by at least 37.5 per cent by 2022, raising revenues from €16m to €25m, and upping the company's headcount from around 110 to more than 200.
B-Critical - his acquisition this week - was an independent consultancy unit within Dutch rival Avance, and will continue to run independently under Solimas Group.
Its consultants specialise in infrastructure, system management, networking and cloud solutions.
For now, van Montfoort has chosen to structure the group by having all his acquisitions remain separate entities with independent branding.
However, upon reaching the €25m mark, this may change.
In his view, Solimas will then be at a fork in the road; by then, van Montfoort said he could look to sell up to a global MSP or expand into Germany or Belgium.
"That would be the ideal moment to integrate all the companies and to bring them all together under one brand name, I think.
"Or maybe we could join an international industry. I would say that after 2022 it's time for us to look at the IT landscape, the market outlook and its market potential.
"And then of course, we have to decide whether or not we want to expand abroad ourselves. From a Dutch perspective, it makes sense to look to Germany or to Belgium."
It's a situation he has been in, in the past.
Serial entrepreneur van Monfoort told CPI that he was a reseller boss back in 2004 before selling up to a global player in 2013.
"I worked for the buyer in the Nordics, the UK and Benelux. But then in 2016, I decided to start a new entrepreneurial venture."
His current venture looks likely to change in shape once more in the near future.
Van Monfoort revealed he is already actively seeking more acquisitions to continue with his buy-and-build drive.
"Although, we now have the size that we could develop new services ourselves. Particularly in networking and security.
"We already have some strong capabilities, but we want to expand them, because we see an increasing demand for those services within our customer base.
"And then we also want to further develop our knowledge around Microsoft Teams and the Enterprise Mobility Suite from Microsoft.
"But yes, we are looking into a couple more [acquisitions]."
German giant’s FY2019 expects to see top line suffer and its FY2020 forecast postponed to April 28, 2020.
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