Navyblue 3D set for management buyout after three and a half years
Navyblue 3D, the 3D design wing of Navyblue which emerged after the company took over North Cross, has confirmed that a management buyout is imminent.
Director Kate McHugh told The Drum that “changes were afoot”, and a planned announcement expected next week has been brought forward.
The management buyout will see the Navyblue 3D identity lost; with a new brand set to be developed for the company, which will also relocate to new a premises based in Leith.
“When the joint venture between Navyblue 3D design and Navyblue Design Group was set up three and a half years ago, the long term aim was to strengthen Navyblue 3D Design so that it could eventually become an independent player,” said McHugh.
“That time has come. The success of both companies has led the executive directors of Navyblue 3D and the Group board to agree that now is the right strategic moment to implement the planned management buyout.”
McHugh said the move would allow the Navyblue design group and the former Navyblue 3D the opportunity to build on the success they have achieved in their individual market sectors.
“We are already collaborating on a wide range of projects and there’s no doubt there will be many more in the future,” she said.
“This is an exciting time for both companies and we have no doubt the giant strides forward they’ll both continue to make will have significant benefits for our clients.”