The Channel logo

News

By | Mark Ballard 25th January 2006 19:25

Elcom IT founder sells up and steps down

Changing of the old guard

Jim Rousou, the industry veteran who established the firm that became Elcom IT, has stepped down as chairman after selling the firm to private investors.

Elcom IT, a £50m turnover company, was bought by private investors Owner Venture Managers Limited (OVM) for an undisclosed sum.

The current management team, which bought Elcom from Usonian owners Elcom International in 2001, will be disbanded. Lloyd's TSB Commercial Finance provided the backing for both deals.

Rousou formed Lantec, Elcom's predecessor, in an MBO from JWP Information Services in 1993. It was bought out by American reseller Elcom in 1995 and was subsequently brought back into British hands in the 2001 MBO led by Rousou and managing director Tony Davis.

Rousou remained at the firm as chairman, despite previously annoucning his intention to move on.

Davis, managing director for the last four years, will remain as finance director. Nick Ellis, one of the outside management team, will take over as MD.

The other members of the last MBO, Paul Rousou and Judy Quoroll, will remain for three months. ®

alert Send corrections

Opinion

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap
Steve Bennet, ex-Symantec CEO

Chris Mellor

Enormo security firm needs to get serious about acquisitions

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust