Captec Group Appoints Stephen Fasham as Group CEO
Captec’s planned succession builds on 41 years of founder leadership and an expanding international presence.
The Board of Captec Group is pleased to announce 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 to shape Captec today. As Founder and a major shareholder, he will continue to support the business as an ambassador for the company.
Max Toti & Stephen Fasham
The appointment 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.
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.
An engineer by profession, Stephen Fasham 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.
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.”
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.”
Stephen Fasham, Group Chief Executive Officer of Captec Group, 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.”
Delivering end-to-end, like no one else.
Captec is an award-winning designer and end-to-end provider of specialized computing platforms, integrated systems and subsystems developed to support complex and demanding applications across a wide range of environments.
From modernizing existing technology platforms to integrating connected devices, edge computing and AI-enabled capabilities, Captec’s experienced teams help organizations evaluate, design and implement solutions aligned to their operational objectives.
