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Codeweavers announce management buyout

Roland Schaack

Codeweavers’ management team have bought out the business in a deal for an undisclosed sum.

The company’s managing director Roland Schaack describes the MBO as a “key factor in our plans to drive our growth momentum”.

Staffordshire based Codeweavers was founded in 2001 and develops products like finance calculators.

Schaack said: “The management buyout sees the key people who currently lead the business taking an active stake in our future.

“For our customers and prospective customers, continuity and commitment are further enhanced. As a business this same assured continuity strengthens our long term plans and growth momentum.”

Sales director, Shaun Harris; operations director, Craig Judson; infrastructure director, Robert Emery and development director Tom Wollert join Schaack and Ian Bullough as shareholders in the business.

Schaack said: “Looking ahead, customers can be assured the course we have long chartered in terms of delivery, support and innovation will be continued.

“The market for financial services is highly dynamic and we are committed to providing the software that enhances the move to digitisation in a highly compliant manner. We want to make it easier for our customers to make accessing finance easier for their customers and delivering this on time and on budget.”

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