Founder bought out
Seven figure MBO backing for electronics firm liGo
A term loan from Barclays combined with an Enterprise Finance Guarantee loan has allowed David and Mairead Brophy to buy out the firm’s founder and outgoing CEO Sam Amdjadi.
Glasgow-based liGo was founded in 2003, providing phones, headsets, two-way radios and other electronics to commercial and private customers. It now employs 15 staff at its head office and warehouse. In recent years, liGo has expanded its product range and services into a number of areas and markets.
In addition to the funding package, Barclays will provide day to day banking services for liGo. The bank’s deal team was led by Alistair Stewart, associate director corporate development. Michael Currie and David Orr from Aberdein Considine advised on the transaction.
Jamie Grant, head of corporate banking for Barclays in Scotland, said: “The MBO marks a significant milestone in liGo’s growth journey.”
Michael Currie (pictured), corporate partner at Aberdein Considine, said Mr Brophy’s “vision and commitment has been critical to the success of liGo and we look forward to supporting his future growth ambitions.”
The British Business Bank’s Enterprise Finance Guarantee facilitates business finance to smaller businesses by providing the lender with a government-backed 75% guarantee against the balance of the facility.