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Springboard has acted as lead advisor to HiCorp95 Limited (“HiCorp”) on its acquisition of Leacy MG Limited (“Leacy”). Leacy, a leading Birmingham based supplier of classic car components, was acquired by HiCorp for an undisclosed sum.
The team from Springboard was led by Justin Sparks who commented “we were delighted to support our client, helping to structure and finance the acquisition of Leacy, a successful privately owned business in the West Midlands, with funding from the Midlands Finance Community.”
David Keene, CEO of HiCorp, who has an impressive track record in the automotive sector, is planning to build on Leacy’s strong reputation with a view to expanding their current product range of over 20,000 vehicle parts and to develop their online presence both in the UK and abroad.
Commenting on the acquisition, David said that “with over 28 years’ experience in the automotive industry I am delighted to be leading Leacy MG into the future. We are keen to ensure that the historical depth of knowledge, reputation for good customer service and high level of stock holding are maintained and built upon. We aim to enhance the company’s ability to stock a wide variety of vehicle marques and to supply the international market as we move forward. An exciting new website and faster processing systems will mean even quicker order fulfilment for customers.”
Describing the involvement of Springboard David Keene said, “the Springboard team handled the whole process perfectly and given the demanding process and timescales they provided me with exceptional reporting, together with logical and sound advice. I would certainly recommend Springboard to anyone looking for dynamic and professional corporate advisors and of course I will be using them in the future. Many thanks to the whole team.”
Posted 31/05/2011
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