IFB, a specialist in connectivity, security and data management solutions, has achieved a partial management buyout from its founder and chairman, John Michie.

The subsequent share ownership restructure sees an investment in the Aberdeen-based business from IFB CEO Graeme Gordon and the company’s non-executive director, Jane Stewart.

An employee share ownership scheme has also been developed, enabling all employees to share in continued growth of IFB through actively engaging as owners in the company’s strategic plan.

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.”

IFB’s creation of an employee share ownership scheme is another key milestone in its growth strategy, following several recent appointments to strengthen the leadership team.

George Gordon joined IFB as COO in September 2018 and said: “As someone relatively new to the business, I’m delighted with the announcement of the employee ownership scheme. My decision to join IFB was based on the business’ strong and consistent position during difficult trading periods and I see great growth potential. This further cements IFB’s commitment to the team here and the services we deliver to our customers.”

The employee share ownership scheme reinforces IFB’s strong corporate culture, providing all employees with the opportunity to be more closely associated with and aligned to the company’s future developments and performance.

Graeme Gordon said: “This is a strong, positive move for IFB and all our stakeholders. We believe the new ownership structure creates a fantastic opportunity as one team to accelerate our strategic plans.

“IFB has created innovative and world class digital infrastructure, designing and delivering digital services globally for some of the world’s largest businesses. The confidence to do so comes from the strong team foundation we have at IFB and we’d like to thank our Chairman for his support and hard work over many years getting IFB to this stage in our growth.

We’re collectively excited for IFB’s continued success with a motivated team having a greater voice and an essential role in shaping the future for IFB, as we continue to innovate and disrupt in our core markets.”

IFB’s partial management buy out follows similar business developments at Midlothian-based IT firm Network ROI and Edinburgh-headquartered IT consultancy and managed services firm, Quorum Network Resources.