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Gamma secures fresh funds

by Stuart Wilson, Friday 18 April 2008

UK-based Gamma Global – an independent IT hardware distributor – has secured US$25m additional funding from Bank of Scotland Corporate. Gamma plans to double its sales to US$200m by 2010 and is also planning to expand through acquisitions. Gamma, which is located in Manchester, now employs more than 50 people, works with more than 1,000 resellers and trades in more than 50 countries.

Gamma claims that the IT market is ripe for consolidation and the firm has also secured an incremental banking facility allowing it to pursue acquisitions to supplement the company’s organic growth. Gamma supplies product from a number of major vendors including HP, Intel, Oki and Cisco.

Martin Smith, managing director at Gamma Global, said: “The funding is a fundamental milestone in our growth strategy and we now plan to double our turnover by 2010. We have acquisition targets in mind but a large proportion of growth will be organic too. Bank of Scotland Corporate were excellent and did exactly what they promised. In addition they were flexible to compromise when a third way was necessary.”

Tony Buchan, Director at Bank of Scotland Corporate in Manchester, added: “Gamma Global exist in a competitive market that has lived through the boom and bust of the dotcom era and now as an industry is enjoying something of a renaissance. Gamma Global is a well run organisation with ambitious plans for the future, so we were only too happy to help and provide this funding.”

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