Aberdeen tech outfit IFB has sealed a partial management buyout from its founder chairman John Michie, resulting in a restructuring of share ownership.
The move sees an investment in the business from chief executive Graeme Gordon and non-executive director Jane Stewart, as well as the creation of an employee share ownership scheme.
The firm has specialised in connectivity, security and data management systems for more than two decades. Its customer base is anchored in the oil and gas sector.
Michie said: “Employee share ownership has always been part of my long-term vision for IFB and I believe now is the right time for the company, its leadership team and employees to move forward as owners, given IFB’s strong market position and ambitious plans for growth.”
Gordon added: “We believe the new ownership structure creates a fantastic opportunity as one team to accelerate our strategic plans.”