Management buyout at Durham’s Indigo Software
A new management team has taken over a Durham software business following a buyout, following the retirement of its founder.
Peter McLane set up Indigo in 1980, but the successful completion of a management buyout will see him make way for a new senior team of Mike Hill, chief executive, Bill Ginn, chief financial officer, and Darren Baxter, chief operating officer.
Indigo Software, which opened an office in Hong Kong earlier this year, will continue its global expansion plans and technical development strategy for Indigo WMS, the company’s flagship warehouse management software.
The firm said the MBO secures Indigo’s future as one of the UK’s leading independent warehouse management software specialists.
The new management team has appointed Colin Hough and Mark Leavy to spearhead the sales effort and all other employees at Indigo will remain in their existing roles.
Mr Hill said: “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.
Mr 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.”
Jamie Pass, corporate partner at Bond Dickinson, was lead adviser to the McLane family, supported by Iain Pritty and Catherine Willis.