Brennan IT is bucking the gloom and delivering record growth despite the sluggish IT sector.21st August 2013
Brennan IT delivered 43% higher sales result in Q4 2013 over that of Q4 2012, and 30% higher than any other quarter in the 16 year history of the business. Revenues are up across all major service lines.
June in particular was a record breaking month, achieving 157% of budget. It was Brennan IT’s best month in the history of the business, with six out of the seven sales teams over target. Major new client wins include Retail Apparel Group, MPower, Clifford Hallam and Fuchs.
Having now secured 21% market share on Australia’s Eastern seaboard, CEO Dave Stevens says Brennan IT is back on the acquisition hunt to cement its leading position in the midmarket.
“We’re delighted with our progress. Thanks to all our team’s hard work, we’ve enjoyed immense organic growth. In fact, over the past 12 months we’ve won 374 new clients – that’s more than one every day – bringing our total clients billed for the year to 2,177. We have also significantly expanded our team and are still actively looking to fill a number of positions in Brisbane, Sydney and Melbourne.”
“Now we are eager to cement our number one position in the market and acquisitions will play a key role in that regard whether it’s by boosting our customer base, enhancing our solutions portfolio, bringing in skills and resources, or growing our geographic footprint,” explains Stevens.
In terms of acquisition targets Stevens says that first and foremost the business must provide a solid fit with Brennan IT‘s culture, have a strong foothold in the midmarket (100-1000 seats) and offer complementary service offerings. Importantly, it must also provide positive earnings in a minimal time period.
“Any deal needs to make a positive impact on the bottom line in a relatively short time period. As a business we are focused on profitable growth, not cash burn to buy share.”
Looking forward, Brennan IT expects to see continued strong demand for its cloud (private and hybrid solutions), managed IT services, security, software development and mobility solutions as businesses continue to embrace solutions that can deliver cost savings and efficiency gains.
“We hope to continue Brennan IT’s stellar growth trajectory in 2014, and look forward to introducing our new and existing customers to some of our enhanced solutions in the pipeline,” says Stevens.