Location: Annapolis Junction, MD
FiberPlex Technologies, LLC engineers, manufactures and delivers secure fiber solutions to the U.S. government. The company was formed in August 2011 by Buddy Oliver and Cyndi Peters for the purpose of purchasing the assets of FiberPlex Inc., which had been manufacturing U.S.-made, secure fiber-optic communications equipment since 1987 and had fallen on hard times, putting 14 jobs in danger. Oliver had worked for FiberPlex Inc. for 17 years in various roles. Knowing the dire situation, but seeing huge market potential, he made the decision to purchase the company.
Quick Tip: “Never shortcut due diligence, and develop key performance metrics as early as possible. Always improve and never ‘arrive.’”
Since the launch of FiberPlex Technologies, Oliver and Peters have saved the original 14 jobs, grown by three employees, cut costs by more than 25 percent and grown revenues by 176 percent compared to the final year of FiberPlex Inc. The infrastructure that they inherited had many large holes. There was no sales department to speak of, no marketing department and no accounting department. Engineering and product development had been brought to a halt. In just five years, the company now has a sales department of four, and engineering has introduced 30 new technology products to the market.