Captec appoints Stephen Fasham as Group CEO

Captec Group has announced the appointment of Stephen Fasham as Group Chief Executive Officer, succeeding the Group’s founder, Max Toti.

The appointment forms part of a planned succession to support the Group’s next phase of growth, with Max Toti remaining on the Board as a non-executive director.

From the humble beginnings of a one-person business in 1985, Max Toti has developed Captec into a leading international company in specialised computing and complex integrated systems, serving sectors including defence, energy, healthcare and transport. Throughout that development, he has maintained a focus on engineering computing hardware around customer requirements, establishing an approach that continues today. As Founder and a major shareholder, he will continue to support the business as an ambassador for the company.

Max Toti, Founder of Captec Group, said: “Growing Captec into an international group has been an extraordinary journey, made possible by the commitment of our people and the trust of our customers and partners. I am proud of what we have built together. Stephen brings the engineering knowledge and leadership experience to take Captec forward and I look forward to supporting him as he builds on these foundations.”

The appointment of Stephen Fasham follows Captec’s acquisition of a majority stake in German industrial PC specialist Spectra. Through Spectra, the Group has also developed a global strategic partnership with Cincoze, the Taiwanese rugged computing manufacturer. These developments extend the Group’s geographic reach and product portfolio, adding computing platforms that complement its engineering, systems integration and lifecycle support. Spectra continues to operate under its own name and established management. Together, Captec and Spectra are targeting turnover of more than £100 million.

Expanding expertise through the integration of international engineering businesses

Stephen Fasham brings experience in building, leading and integrating international technology businesses. He helped establish Covelya Group as Chief Operating Officer before becoming Chief Executive Officer in 2021. Working with its leadership, he grew the business into a global underwater technology group, with manufacturing across the UK, Denmark and Canada, and nearly tripled revenue before its acquisition by Kraken Robotics in 2026. His work included integrating acquisitions, building leadership teams and developing Covelya’s defence business through the formation of Forcys.

Stephen said: “Max has built a business with deep engineering expertise and customer relationships earned over decades and the same qualities stand out at Spectra. I look forward to building on those strengths across the Group as it grows internationally, helping more customers meet demanding hardware requirements and supporting the systems they depend on for years to come.”

An engineer by profession, Stephen studied at the University of Cambridge. His career has progressed from engineering and product development to strategic and commercial leadership, in sectors ranging from telecoms and aerospace to subsea and defence.

Ed Spurrier, Non-Executive Chairman of Captec Group, said: “On behalf of the Board, I would like to thank Max for 41 years of leadership. Few founders build a business of Captec’s standing and fewer plan its succession with such care. Stephen’s experience of growing and integrating international engineering businesses makes him the right person to lead the Group’s next phase.”