This London company provides outsourced IT services such as technical support, server monitoring and data back-up. Its customers include Equitable Life, Ruffer and Moneyexpert.com. The firm was founded by joint chief executive Gavin Russell in 1998. It expanded with financing of £250,000 from business angels in 2004 and a £200,000 small-firms loan in 2005. Fellow chief executive and commercial director Peter Sweetbaum joined in 2002 after Wavex’s purchase of PC Division. The company has grown organically and through acquisitions, with sales rising 58% a year from £1.5m in 2004 to £5.9m in 2007.

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Company details
Year2008
Rank53
CompanyWavex Technology
ActivityIT managed services provider
LocationCentral London
Average 3 year sales growth57.90%
Latest sales £000s5,880
Staff70
Founded1998
Websitewww.wavex.co.uk

If applicable:

* supplied by company † annualised figure