Twin brothers Andy and Chris McLaughlin have completed a management buy-out of their family business, the Cheshire-based MIS Group, supplier of the well-known ActiveH housing management system.
The McLaughlin twins have bought MIS Group through a four-year deferred consideration for a near eight-figure sum. The business has been bought from its founder, their father, Stewart McLaughlin and includes housing management software supplier MIS-AMS and MIS Emergency Systems.
The group had a turnover of £9.2 million in FY2018 (up from £8.7 million in FY2017) and has 92 staff based in its offices in Northwich.
Andy McLaughlin, group finance director, MIS Group, said, “It’s very much business as usual – I joined the group 18 months ago as its finance director and Chris has been managing director of MIS-AMS for the past five years where he has grown revenues by almost 50 per cent.
“There will be no change to the group structure; we are in excellent shape, with plans for further growth to over 100 employees before the end of 2019 and future expansion plans entailing investment in our local area and more jobs in 2020.”
As part of the buy-out, the group has also launched a third company, Incline-IT, to provide managed IT and cloud services to complement its housing customers’ existing ActiveH deployments.
Chris McLaughlin, managing director, MIS-AMS, said, “Many of MIS-AMS’s housing customers tell us that they’re increasingly looking for ways to outsource the hosting of their housing management system to become more efficient and reduce costs. It’s therefore a natural step for Incline-IT to manage our housing customers’ IT estates more widely.”