Digconn snapped up by rival Agile
CHESHIRE-based software development firm Digconn has been sold to Agile Digital Systems after a period of rapid growth.
Digcon, headquartered in Ellesmere Port, has been developing process control system software for payroll management service providers since 1997.
It has been acquired by Preston-based Agile Digital Systems for an undisclosed sum.
The sale was assisted by North West corporate finance specialists MC Vanguard and Manchester commercial law firm Kuits Solicitors – acting on behalf of Digconn – and the vendor’s solicitors Aaron & Partners.
Digconn founder and managing director Geoff Jones, who will retain a shareholding and continue to work in the business, said the new backing will propel growth.
“We have built Digconn into a successful company with great potential for growth,” said Mr Jones. “Our mission is fixed on helping businesses keep complex administration, payroll and HMRC administration overheads to a minimum, saving both time and money.
“The time was right to take the next step and find a buyer who could provide the platform to help take the business to the next level.
“We wanted a buyer who understood the sector, our ethos, and our meticulous approach to service delivery. The team at MC Vanguard found who we believe is the perfect buyer in Agile Digital Solutions.
“With the support of our advisers we were able to negotiate a deal which provided us with a partial exit and the opportunity to continue to work within the buyer’s group.”
MC Vanguard director Robin Gower said: “Business sales are invariably complex and often drawn-out processes.
“We are delighted with the outcome for the Digconn team who have invested so much over the years in growing the business to the successful operation it is today.”
Corporate partner for Kuits Kirsti Pinnell said: “Over the years we’ve been working with Digconn, we have supported the management team’s development of the business.
“During this time, Mr Jones’s dedication to the improvement of its products has ensured that it is a stand out provider in the marketplace.”
Head of the Corporate/Commercial Team at Aaron & Partners Stuart Scott-Goldstone said: “There is clearly a great opportunity for Agile and Digconn to work as one to develop new products and markets and we are pleased to have been part of the transaction bringing the businesses together.”
