Flint Bishop has advised the shareholder of IGL Ltd, the parent company of Leicestershire-based Infotec Limited, on the £8.7m sale to Journeo Plc, an AIM-listed information systems and transport technical services group also based in Leicestershire.
IGL Ltd, and its subsidiaries trading as Infotec, is one of the few British-based companies that designs, manufactures, tests and distributes its own passenger information displays to the rail sector in both the UK and abroad.
With more than 15,000 displays in operation and coverage of 80 per cent of the rail network, 2.19 million passenger journeys rely on Infotech’s products every day.
Leading on the deal for Tim Court was partner and head of corporate and finance Martyn Brierley, with support from senior associate Mark Wilcock. Partner David Newborough and associate director Jonathan Williamson, of Ashgates Corporate Services Ltd, provided accounting and tax advice to the selling shareholder on the disposal.
Brierley said: “We are delighted to have advised Tim on this successful transaction. The process was technically detailed at times so we are pleased to have helped bring the transaction to a positive conclusion for both Tim and Journeo plc. With Tim’s ongoing role in the business, we wish both Tim, Infotec and Journeo, the very best for their future together.”
Infotec founder Tim Court said: “Selling a business you’ve worked in and nurtured for near 30 years was always going to be emotional journey. Martyn, Mark and the team at Flint Bishop conducted the transaction with the utmost professionalism and skill. To me personally, they handled the deal with a deft touch which made the process bearable, their input is one I will always be grateful for. I couldn’t recommend and rate Martyn and his team at Flint Bishop more highly.”
