Communio Group Ltd and its subsidiaries have been sold through a management buyout to its Technical Director Mr. Andrew Turner. The details of the financial transaction will not be disclosed.
The company’s activities surround the sales and maintenance of its core products from suppliers such as Avaya, Mitel, InterTel, and Panasonic amongst others while maintaining over 1,500 customer sites across the United Kingdom.
Nadahl Shocair, Communio’s departing interim-CEO said,
“I led DeTeWe’s and now Communio’s rapid and aggressive restructure. The business is now stable, its overheads both reduced and rationalized and its order book extremely strong which all in concert will allow Andy to gain traction and lead Communio effectively to achieve the projected business plans for 2007 and beyond.
When I considered the options for the business and its future, Mr. Turner’s offer to acquire the business was the best solution for both the Communio family and its customers. This management buyout now releases me to spend more time at home in the USA and on my other IP based business interests.”