Simon says Agile
A MIDDLESBROUGH entrepreneur has unveiled plans to build a £10m IT business and create around 100 jobs in the next five years.
Simon Scotchbrook and business partner Sean Greeley have re-launched Stockton-based Qnet Group as The Agile Group, which employs 50 staff and has an annual turnover of £2.5m.
The duo are seeking £1m of funding to kick-start the next phase of growth which could culminate in a stock market float or management buy-outs of some or all of the group’s five core businesses.
Mr Scotchbrook said: “We are seeking to generate more value for the business and maximise shareholder returns.
“We are keeping our exit strategy open.”
The original business model has been broken down into five different brands across the IT and communications sector, each headed up by a business development director.
Its training division, Agile People Development, has secured £100,000 of funding from the Learning and Skills Council to deliver IT training to around 100 people this year.
Mr Scotchbrook said the new structure - agreed with the help of support organisation Finance Tree - would quicken the growth of each business and increase divestment options for the group.
“Our growth targets are not unrealistic,” he said. “Companies are having to monitor their IT structures as they make themselves more efficient during the recession.”
The company is seeking to move from its 6,000 sq ft base at Portrack Lane to newer premises in or around the Stockton area.
Established in 1999, it started life at Skippers Lane in Middlesbrough before moving to its current site six years ago.
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