An entrepreneur from the jump, Terry Burt jacked in his university places in the late seventies to sell disco tickets on the beach in Spain. Now 51, the promoter-turned-accountant is CEO of 2e2, the computer network service provider he founded in March 2002. Sales hit £143m in 2007, with one per cent margins and a compound growth over the past four years of 135 per cent.
Revenues in 2007 look even rosier; the company is preparing to file a £207m turnover and EBITDA profits have reached £20m. Burt still retains 18 per cent of the company, after several rounds of funding from private investors and private equity group Duke Street Capital. He credits the success of the company to having “huge levels of talent and lots of luck” in such a cut-throat market. “Everybody’s nasty and lean and hungry these days. That’s the market we’re competing with.”
As for the long-term future of the company, Burt is weighing up a trade sale, a further round of private equity funding or even a flotation. As for him, after 2e2, Burt’s looking to retire in style: “I’m going to run off to the beach with a nice young lovely,” he says.