Former sales director of Fibre Technologies, Ian Hunt, has completed a management buyout (MBO) of the fibre optics communications specialist, with plans to grow revenues to £12m by 2012. Hunt assumes the role of managing director from Philip Coombes.
Hunt acquired 24.9 per cent of the company in late 2005 and has spent the past two and a half years growing the new business pipeline, as well as founding and strengthening partner relationships. In a bid to meet the £12m turnover target, Hunt plans to double the workforce over the next four years to 24 staff, which will include the development of a specialist sales team focusing on high volume, low touch consumable sales.
As part of the changes, Jeff McKeown joins the company as sales director, and will be responsible for growing the sales and distribution teams. He brings with him a wealth of experience in the high-tech industry and managing EMEA-wide sales and marketing programmes.
Commenting on his new role, Hunt said: ‘Over the eight years I have worked at Fibre Technologies, I have seen the company become a leading player in the communications market with a strong customer and partner base. The MBO is a sign of my commitment to the company and my belief that we can further strengthen and extend our offering.’