Shuter sells Frontline stake
Andy Shuter, joint managing director of technology provider Frontline Solutions, has sold a controlling interest in the company to private equity partner CV6 Limited.
CV6 previously already owned a minority investment in the company, dating back to 2008.
There have been some senior managerial changes following the buyout. Shuter is to assume a new role heading up Frontline’s global growth strategy and development in new market.
According to a statement, “Shuter will also be dedicating more of his time driving his own charity the F&I foundation which supports promising sportspeople and athletes”.
Meanwhile, Martin Hill, who was joint managing director alongside Shuter, has become sole managing director of Frontline Solutions.
Mark Spink, head of technical director, will remain in his role. However the team working under him is expected to increase significantly.
Shuter said: “The opportunities moving forward are immense. There comes a time when it becomes obvious that a business is ready to progress to another level. I look forward to the coming years with great anticipation and excitement, as the business now has everything at its disposal to progress quicker than ever before.”
A spokesperson for CV6 said: “Andy remains an integral part of our global strategic team, and with Martin Hill’s knowledge and capability, the industry should be expecting great things of Frontline Solutions.”