Knock man makes top five Ireland rich list

HUGE SUCCESS Frank Salmon of CMS Distribution was interviewed by Matt Cooper when he won a ICT award back in 2013.

Ciara Galvin

KNOCK native Frank Salmon has ranked number four on Ireland’s rich list for 2018 which aired on RTÉ 2 last week.
The series delved into The Sunday Times Rich List, with CMS Distribution owner Salmon reaching the number four spot with a wealth of an estimated €99M.
Documented in the RTÉ show was thet fact that at the age of 24, Salmon went working for a small IT storage company in London called CMS and within two years he had the opportunity to buy it for three pounds sterling, but also had to buy its debt.
Needing money, contributors to the show say Salmon wrote to 20 people who he thought had money and was successful in raising €120,000 from eight investors.
By 1991 CMS had eight people working for them and had sales of over one million pounds sterling.
Now, the company is one of the largest IT storage companies in Ireland and the UK, the Kiltimagh-based company has reported record revenues with turnover exceeding €500m for the first time.
Headquartered in Kiltimagh, the company services more than 50 manufacturers and 2,800 resellers. It employs 350 people across six locations in the UK and Ireland, plus locations in the Netherlands, Sweden, Spain, Australia and China.
Salmon was quoted saying the CMS team were ‘delighted’ with record financial performances and its many investments last year. The company marked its thirtieth anniversary this year.