Kiltimagh based value-added distributor CMS Distribution, which was founded by Knock born business man Frank Salmon has joined forces with Widget Group, an award winning distributor of emerging technology based in the UK, the Netherlands, and Sweden. This acquisition further strengthens CMS Distribution’s position in the European market.
Commenting on the acquisition, Frank Salmon, founder and managing director of CMS Distribution, said: “We are delighted to have teamed up with Widget Group, they are experts in emerging consumer technologies with an impressive portfolio of vendors in the UK and Europe. They have a large and loyal customer base and, like CMS, they are an award winning distributor in their field. The decision to buy Widget Group was based on several inherent synergies between the two organisations, including growth plans, leverage, scale, and a track record of success.”
Following the acquisition, CMS Distribution will target combined revenues of £300m+ for the financial year 2016 and now employs 250 people across the UK, Ireland, and the Netherlands. CMS will continue to run the business under Widget Group’s brands for the foreseeable future and Widget’s leadership and management team will remain and continue to focus on the growth of the business. Mark Needham, founder and chairman of Widget Group, commented: “It’s a great move for Widget as well as the vendors and customers we represent and the staff we employ. Being part of a larger, value-added distribution business brings tremendous opportunities for the future and we are excited by the next stage in the joint CMS-Widget journey.”
Frank Salmon concluded: “We are changing the game in IT distribution. We are combining scale and specialisation for our vendors and customers both in the UK and Ireland and now across Europe. We are on track with our vision to become the leading specialist distributor in Europe.”
