Acquisition of ICEM
Indigo's third fund deployed €15 million of mezzanine capital to support the management buy-in of ICEM from its former US parent company. ICEM is a leading producer of computer aided design (CAD) software for the world-wide automotive and aerospace industries. The initial transaction involved acquiring intellectual property rights, an installed customer base and a team of software developers and managers. Working with management, Indigo created a legal and operating framework for the business, including a UK holding company, a German software development subsidiary and sales organisations in the USA, France, Japan, Italy and Spain. ICEM grew its customer base and penetration. It also widened its product range by releasing new software modules and a completely new CAD software suite designed to integrate seamlessly with other leading CAD systems. ICEM was sold to Dassault Systèmes as part of the latter's strategic expansion plans.