MBO completed at Durham-based WMS specialist Indigo
The senior management team at Indigo Software have completed a management buy out of the company from retiring founder Peter McLane.
The Durham-based warehousing and logistics provider was founded by Mr McLane in 1980. The new owners say they now set their sights on making the specialist firm a global leader in WMS.
Mike Hill has taken the role of CEO, supported by Bill Ginn as CFO and Darren Baxter as COO. Colin Hough and Mark Leavy will spearhead the sales effort. All other employees at Indigo will remain in their existing roles.
Mike Hill commented: “We are delighted to have completed the buy out and believe it is the best possible outcome for customers and employees alike.
“Indigo has a very loyal customer base and internal team, many of whom have been involved with the company for multiple decades and the MBO means we can continue with our strategic plans to further enhance Indigo technology.”
Following the completion of the MBO, Indigo plans to continue its strategy to accelerate the development of cloud and mobile technology and provide the best midrange warehouse management software to leading companies across all industry sectors, available as either an on-premise or cloud-based solution.
Peter McLane said: “Having originally founded Indigo almost 37 years ago, I am delighted to have created such a successful company and look forward to watching the business continue to thrive under such capable leadership.
“The MBO ensures Indigo remains independent and continues to support the north east economy, with the prospect of a wider global remit in the future.”
RSM, led by corporate finance partner Tony Edwards and with support from Kevin Rooney and Andy Graham, supported Indigo’s management team during the transaction.
Tony Edwards, corporate finance partner at RSM said, “Indigo Software is an ambitious business that continues to expand in the UK and internationally – it’s a real success story for the North East technology and software sector, which continues to thrive.
“It has been great to work alongside Peter and the senior management team to shape a deal that complements the needs of all parties and supports the future growth of the business.”
Lawyers based in the Newcastle office of national law firm Bond Dickinson also acted on the deal with Jamie Pass, Corporate Partner at Bond Dickinson, as lead adviser to the McLane family, supported by Iain Pritty and Catherine Willis.
Jamie said: “We were delighted to advise Peter on this transaction, which supports the future growth of the business and is a real success story for the North East technology and software sector”.
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