Maven and YFM invest £12m in Indigo MBO

The transaction, which was led by Indigo CEO Stephen Thompson, includes funds to be used as part of Indigo's buy-and-build growth strategy.

The transaction marks the first investment for YFM's maiden institutionally backed fund, which held a first close in June on £22m. A number of VCT fund managers are understood to be raising institutional funds in response to recent rule changes, which prevent VCTs from making buyout investments.

Williams & Glyn provided senior debt and working capital facilities to support the deal.

Company
Founded in 2009 and headquartered in Monmouthshire, South Wales, Indigo installs and maintains fixed line, broadband and mobile networks for the consumer, enterprise and corporate markets. The business has a headcount of 85 and a network of 500 engineers across 20 countries. Its clients include Vodafone, Sky and BT.

People
Maven Capital Partners – Andrew Ferguson (investment director).
YFM Equity Partners – Colin Granger (investment director).
Indigo – Stephen Thompson (CEO).

Advisers
Equity – Osborne Clarke (legal); HMT (financial due diligence); CIL (commercial due diligence); Korn Ferry (management due diligence); JLT (insurance due diligence).
Debt – Irwin Mitchell (legal).
Management – Ignition Corporate Finance, Peter Barrand (corporate finance); Mills & Reeve, Peter McLintock (legal).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• Maven Capital Partners
• YFM Group