Zycko is the latest channel firm to announce a management buyout.
Group managing director Nick Moglia, sales and marketing director David Galton-Fenzi, and finance director Ken Wood, have today revealed they have acquired the majority share in the business from Zycko founder, Rory Sweet, for an undisclosed sum.
Originally launched in 1999 from a single office, Zycko now has an annual turnover of around £120m, with 13 offices across four continents. The distributor was conceived as a specialist in networking accessories and infrastructure products, but has since expanded into networking, storage, datacentres, virtualisation, and voice and video.
Moglia says the next phase in the company’s development will be achieved through “a combination of vendor expansion, and further overseas offices, strengthening our position as a pan-European value-added distributor.”
Galton-Fenzi believes the firm’s strengths lie in “uncovering disruptive technologies and introducing them to the channel,” adding “the team we’ve built over the years allows us to do this, and is ultimately why I believe we can justify our position as Europe’s leading-edge disruptive distributor.”
Sweet will remain on the board as a non-executive director.
Last week Intrinsic Technology chief executive Mike Mason fronted a £30m management buyout of the Merseyside-based ICT provider.
