The shareholder of IGL Ltd, the parent company of Infotec Limited, has been advised by Flint Bishop on its £8.7m sale to Journeo Plc, AIM-listed information systems and transport technical services group,
IGL Ltd designs, manufactures, tests and distributes its own passenger information displays to rail operators in the UK and around the world, one of the few British-based companies that does so.
Over 2.19 million passenger journeys depend on Infotech’s products every day, with more than 15,000 displays in operation and covering 80 percent of the rail network.
Partner and head of corporate and finance, Martyn Brierley, led the deal for Tim Court, with support from Mark Wilcock, senior associate. Accounting was provided by Partner David Newborough and associate director Jonathon Williamson, of Ashgates Corporate Services Ltd, as well as 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.”
