“I sold up, but I really missed going to work”
After successfully selling his third business before reaching 50 years old, serial entrepreneur John Ward is set up for life. He has bought a hotel, a craft brewery, a pub, and invested in his wife’s family business. But the lack of routine became an issue.
He started his first business aged 24, selling nuts, bolts, machined parts and the like to companies like IBM. After selling to a PLC, he became a Director for the acquirer, where “instead of running my own business, I was suddenly driving up and down the country, discussing pie charts and predicting the future.”
In 1999, he invested his money and put his house on the line to set up Fasteq, teaming up with former colleague Mike Connelly to run the business as a 50/50 partnership.
- Company name - Fasteq
- Location – Linlithgow, UK
- Founded – 1990
- Business activity – aerospace and defence components
- Annual sales - £6m
- Reason for sale – growing too fast
- Sold – October 2012