Midlothian IT business now in hands of employees

Network ROI, a Midlothian-based IT business, has completed an employee buy-out after receiving £1 million in funding from alternative finance provider Thincats.

Founded in 2003 by Sean Elliot, Network ROI’S initial focus was to provide IT support to companies in Scotland. Its focus has since expanded to deliver a full range of managed IT and connectivity services to organisations throughout the UK.

Elliot said: “I was coming up to 50, and we began to look at an exit strategy and a business plan to support that. I considered the usual options such as a trade sale, but came across the concept of employee ownership.

“We had a beauty parade and narrowed down potential funding sources to two – Thincats and a conventional high street bank.”

Network ROI now has 32 employees, all with a stake in the business as a result of the financing deal.

Elliot added: “The loan has allowed us to transition to full employee ownership, facilitating my succession.”