:: What's New ::
Nortek Computers Ltd. Sold
New Owners Focus On Company Growth
North Bay, Ontario (May 31, 2006) - Nortek Computers Ltd. is pleased to announce that founder and owner Brian McGaffney has sold his company and moved on to other business endeavors. Over the last 25 years, Dr. McGaffney built the company into a thriving enterprise, successfully developing niche markets for most of its products.
Along with Brian's sale of Nortek, comes the announcement of new ownership and the future plans for Nortek Computers Ltd. as it continues to grow and remain a significant employer in North Bay. The new purchasers of Nortek are Bob Everest and Todd Muzyka. Both Bob and Todd are seasoned executives with each having over 20 years experience in the Information Technology (IT) sector.
Before purchasing Nortek, Bob Everest served as Vice President and General Manager of Persona Communications Inc., in Sudbury, Ontario for 7 years. At Persona he led over 270 employees to double digit sales growth while introducing industry leading products for its client base. Previously, he was employed at Bell Canada for 15 years in various senior management roles.
Todd Muzyka is the current owner of two Sudbury companies Computrek a northern based value added reseller (VAR) and CDS Limited, a custom development house. Both companies currently employ 21 people. For the past 20 years, he has successfully developed and implemented strategies to support growth and diversify his two companies in the fast paced IT marketplace. Now as an owner of Nortek, he brings to the table a proven track record in IT business management.
Together Bob and Todd will focus on day-to-day operations and provide strategic direction to grow the company. They will continue to leverage its role as a leading electronic design and engineering company to diversify its product offerings.
"The growth potential for Nortek is significant. Our primary business lines include repairing, refurbishing, and remanufacturing high-end storage devices such as hard drives and tape drives. Currently we have few major competitors in North America and our client contracts include IBM Canada, Reynolds and Reynolds North America, and Tracelogix. We are close to finalizing some additional and significant contracts and we look forward to continuing growth in both our domestic and international business lines right here in North Bay," states Everest.
Muzyka adds, "Our other significant business line, which accounts for 20% of Nortek's
revenues is our data and password recovery division. This market has been
growing at about 50% annually and this growth is expected to continue.
Businesses all over the world rely on electronic storage of vital information,
so when a storage device fails it is costly and possibly disastrous. With an
industry leading success rate, we are the natural choice for data and password
recovery."
"As with most successful companies, our real strength and the foundation of the company is our employees' hard work and dedication. We have no doubt that this most valuable asset has carried the company for the first 25 years and will continue to be a great part of our growth and diversification for the future," agree the new owners.
About Nortek
Founded in 1981, Nortek is an electronics engineering company and world leader in the repair, remanufacture and resale of high-end storage devices. Innovative, quality solutions for products from laptops to Enterprise class storage systems demonstrate Nortek's ability to adapt and perform on a consistent basis. Custom engineering services provide corporate customers with timely, creative resolutions to their unique challenges. Nortek also has an impeccable success rate in the provision of data recovery and exclusive password recovery services. With a proven track record of customer satisfaction, Nortek rounds out its business line with repair services for PCs, LCD monitors, and bar code scanners.
Nortek employs 30 people in the North Bay area. For more information visit www.nortek.on.ca