Managed services News
ePlus CEO Mark Marron: ‘We Don’t Think We’re Recession-Proof. But We Think We’re Recession-Resilient’
Joseph F. Kovar
‘But when you get into macro headwinds, it’s actually a positive for us because we’ve got the two segments. We not only provide the solutions and the services, but we also have the financing capabilities. So if somebody doesn’t have the budget, we could provide financing to procure those technologies or solution,’ says ePlus CEO Mark Marron.
ePlus On A Roll
Things are looking good for IT solution provider ePlus. The Herndon, Va.-based provider of technology and financing solutions in late May reported fiscal 2023 revenue of $2.07 billion, up 13.5 percent over fiscal 2022, thanks to a 16.3 percent bump in technology sales and a 9.9 percent bump in services revenue. Net earnings rose 13.0 percent.
ePlus CEO Mark Marron, in an exclusive wide-ranging discussion with CRN, said his company has a couple of unique advantages that are helping it grow despite macroeconomic headwinds.
One of those is its experience with acquisitions. ePlus has made 30 acquisitions that bring either new technology expertise or expanded geographic footprints, including its most recent, that of the Network Solutions Group business unit of CCI Systems, which brought the company the valuable Cisco Master Service Provider Technology Architect specialization.
Related: [MSPs And Private Equity: What Makes An MSP Stand Out From The Pack?]
Another unique advantage is its financing business. Marron said most people don’t realize it, but ePlus started as a financing business and then acquired solution providers to the point where nearly all revenue comes from IT, but financing provides strong margins.
As a result, macroeconomic headwinds actually become positive for ePlus. “We not only provide the solutions and the services, but we also have the financing capabilities,” he said. “So if somebody doesn’t have the budget, we could provide financing to procure those technologies or solutions. … We don’t think we’re recession-proof. But we think we’re recession-resilient.”
Here is more of what Marron had to say to CRN.
