Adapt has announced that it has appointed Stewart Smythe as the company’s new Chief Executive Officer (CEO). Outgoing CEO and Adapt founder, Peter Knight, will remain on the Adapt Board as a non-executive director.
Adapt is a well-invested award-winning IT services business with a flexible business model that incorporates a leading edge delivery platform, as well as providing access to some of the UK’s highest quality data centre space. With a current annual turnover of £35 million, Adapt’s customers include Cubic Transportation Systems, Last.fm, LOVEFiLM, LCH.Clearnet and PKR. In September 2011, Adapt received £30 million in funding from independent private investment house Lyceum Capital Partners. This backing was a major step forward in Adapt’s medium-term organic and acquisitive growth strategy.
Smythe joins the business from the Executive Board of Cable & Wireless, having successfully run the THUS mid market division and C&W’s UK Enterprise Division. Previously he worked at Energis, Accenture and KPMG. He brings with him a proven track record of successful leadership and management of both public and private organisations - in particular, Smythe’s experience as Financial Director at Energis equips him with the objectivity to steer Adapt’s comprehensive growth strategy.
“I am delighted to have the opportunity to lead Adapt as we look to strengthen the business’ operational resources that underpin our 20% organic growth and customer experience,” said Stewart Smythe, CEO at Adapt. “Backed by the recent funding from Lyceum, we now have the means to accelerate our acquisitive strategy, focusing on businesses with strong technical and operational capability and outstanding customer service reputations. The team is talented and passionate - and we’re excited about innovation, creating more award-winning cloud solutions and services. Our focus and vision is clear; now we look forward to the hard work ahead.”
Through further penetration of Adapt’s existing client base and development of channel partner relationships, the firm aims to become the leading IT Infrastructure as a Service business to UK corporates. Adapt’s acquisition plan will broaden its managed services and cloud based proposition, allowing the company to further expand its service.
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