THE COMPANY

Vigo designs, builds and implements software and technology solutions for the logistics, haulage, warehouse and pallet network sectors, providing transport management systems, mobile workforce solutions and warehouse management systems for over 200 clients across the UK.

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CHALLENGE

The challenge was to find a solution that would allow the major shareholder and owner – Darren Cronshaw – to fully exit the business, with no requirement to be retained post-sale. It was also important to the senior management team that the eventual acquirer shared their passion and vision for the product and their exciting growth plans and overall strategy for the business.

A key aspect of the transaction was meeting the vendor’s price expectations in a softening market where valuations for similar businesses had fallen dramatically in just a couple of years. We then had to ensure that the senior management team – some of whom were not shareholders – would be suitably rewarded at the initial sale, and appropriately incentivised post-transaction to ensure growth plans are delivered.

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OUTCOME

Thanks to a dynamic market sector and a management team driving innovative technology solutions, Vigo received strong interest from both trade and private equity.

The right fit was found with Kerridge Commercial Systems, a market-leading cloud ERP (Enterprise Resource Planning) and business management software provider with over 34,000 customers worldwide. From offices in the UK, Europe, USA, Africa, the Nordic countries and Australia, the company serves customers in 76 countries and has 1,300 staff worldwide.

The integrated Vigo-Kerridge Commercial Systems solution enhances stock visibility, streamlines logistics, and boosts operational efficiency, while also improving client service and communication. Vigo’s real-time driver mobile applications offer features like route scheduling and electronic proof of delivery, which complement Kerridge Commercial Systems' expanding suite of logistics and field service solutions by connecting a dynamic and comprehensive ‘final mile’ delivery solution.

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TESTIMONIAL

"I highly recommend the team at Shaw & Co for their exceptional work in managing the sale of Vigo Software. Their patient, calm, and diplomatic approach was essential in navigating challenges and finding effective solutions. With their expertise and guidance, we remained focused and, more importantly, met the needs of all parties involved - shareholders, stakeholders - and securing the right buyer to advance Vigo Software."

Darren Cronshaw, Former CEO, Vigo Software.