Funding boost for fledging IT firm
A fledgling IT hardware business established just five months ago, is on course to record an £8m turnover in its first full year of trading – more than double its original target.
Prestwich, Manchester-based IT Hardware & Software specialises in the sourcing and sale of IT hardware such as servers, hard drives, keyboards and monitors.
To support the company’s rapid growth RBS Invoice Finance in Manchester has provided the company with a £700,000 funding package.
ITHS was formed by David Warner and Alan Glazer, both of whom have substantial experience in buying and selling IT systems.
The pair set themselves a first year turnover target of £4m and are well on course to double this figure.
The company sources products worldwide to ensure they can secure the best possible price for customers.
All products are manufactured by major IT companies such as IBM, HP, Cisco and Sun Micro Systems. ITHS sells to national IT distributors and large corporates
The business employs eight people and is based on Mount Heath Trading Estate in Prestwich. A further two jobs are likely to be added in the next few weeks as the business continues to grow.
Managing director David Warner said: “We launched ITHS because we believed there was a gap in the market for a fast and knowledgeable IT sourcing business in the North West.
“Our approach of providing clients with quick, cost effective solutions has been well received by the market. We are very pleased with our initial performance and are confident of further growth in turnover as the business becomes more established.”
Jo Jones, relationship manager for RBS Invoice Finance added:“Their success is impressive given the challenging economic environment and we look forward to watching the company’s future development.”
