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39: Vtesse Networks

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Aidan Paul put up “enough money for a small house” when he helped launch Vtesse Networks, a specialist optical networking service provider. He says Vtesse’s unique selling point is that it’s been able to deliver simple solutions to satisfy changing requirements in the telecom space and the “inexorable appetite for more bandwidth”.

One of Vtesse’s big breaks was that it won a contract with IBM for Lloyds TSB. The company works for other financial services companies, large systems integrators, and government and telecoms groups.

Vtesse has grown 95 per cent year on year for the past four years, with latest turnover at £17.3m. Paul says it’s been crucial to keep an eye on costs during this growth spurt. “If you’re going through rapid growth, make sure you’ve got a good finance director and someone marking their homework. If you’re not careful, a mistake, like a crack, can propagate. If you haven’t got the right checks and balances, you can come unstuck.”  Paul forecasts sales of £20m next financial year.

www.vtesse.com

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