The senior management team at Indigo Software announces the successful completion of a management buy out (MBO) of the company from founder, Peter McLane. The move enables Indigo to continue its global expansion plans and technical development strategy for Indigo WMS, the company’s flagship warehouse management software and allows Mr McLane, who founded Indigo in 1980, to retire from the day to day management of the business. The MBO secures Indigo’s future as one of the UK’s leading independent WMS specialists.
A new executive management team has been announced with Mike Hill taking 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 onpremise or cloud-based solution.
“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,” says Peter McLane.
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. Jamie Pass at Bond Dickinson acted as legal advisor to the majority shareholder and Mark Adams from Hay & Kilner acted as legal advisor to the management team.
Tony Edwards 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 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.”
INDIGO SOFTWARE
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