Barclays backs MBO of Glasgow e-commerce firm LiGo

A Glasgow-based e-commerce company has undertaken a management buyout thanks to a seven-figure funding package.

Jamie Grant of Barclays  significant milestone for LiGo. Picture: Neil Hanna

The deal, which combines term-loan funding from Barclays with an Enterprise Finance Guarantee loan, has allowed David and Mairead Brophy to buy out LiGo’s founder and outgoing chief executive Sam Amdjadi to take full ownership of the business.

LiGo was founded in 2003 and the e-commerce telecoms business provides phones, headsets, two-way radios and other electronics to commercial and private customers. It employs 15 people at its Glasgow head office and warehouse. In recent years, the firm has expanded its product range and services into a number of areas and markets and intends to continue this expansion following the MBO.

In addition to the funding package, Barclays will provide day-to-day banking services for the company.

David Brophy, the new chief executive, said: “We’re delighted to take over LiGo at this exciting time and hope to build on the strong foundations it has established over the past 15 years.”

Jamie Grant, head of corporate banking for Barclays in Scotland, said: “The MBO marks a significant milestone in LiGo’s growth journey and we are pleased to be supporting them to deliver this as well as taking on the company’s day-to-day banking.”

Michael Currie, corporate partner at Aberdein Considine, the legal firm that advised on the management buyout, said: “We were delighted to work with David and Barclays on what was a landmark deal.

“David’s vision and commitment has been critical to the success of LiGo and we look forward to supporting his future growth ambitions,” he added.