GIL Investments drives MBO
GIL Investments, based in Stratford-upon-Avon, has completed the management buy-out (MBO) of the Road Transport division of Reed Business Information.
GIL Investments, the management company of Grove Industries, has created a new company from the deal, named Road Transport Media.
The new business will provide information to the road transport market in the UK.
Worcester-based Harrison Clark solicitors acted for GIL Investments on the management buyout of the company, which was part of Reed Elsevier Group.
David Grove, chairman of GIL Investments, said: "We have often found that the growth strategy of large businesses results in smaller divisions becoming non-core and thus appropriate for divestment. Our team, led by our investment director Richard Banham, will give the management of Road Transport Media the autonomy and flexibility they need to succeed."
Harrison Clark's corporate team, led by corporate partner Richard Wilkey, advised GIL Investments on the acquisition and equity arrangements.
Wilkey said: "This was GIL's first media acquisition and it was great to be able to work with the GIL team and assist them in seeing this transaction through. The GIL team is very strong and in working with the management team of Road Transport Media I am sure that this will prove to be a successful partnership going forwards."
