Springboard Corporate Finance are delighted to announce that they have advised on the sale of Bellvedi Limited to Tracsis plc.
About the Deal
Bellvedi is a UK based software company that operates within the rail industry and specialises in timetabling software. Bellvedi’s key product, ATTune, is a timetable planning software package and is extensively used by train operating companies, infrastructure providers, franchise bidding teams and rail consultancies for the creation, validation, optioneering and optimisation of timetables in time pressured environments.
Tracsis plc has a blue-chip client base that includes all major UK transport owning groups. John McArthur, Chief Executive Officer of Tracsis plc, commented “We have known the Bellvedi team for a number of years and have worked with them closely on a number of key projects. Bellvedi has a great product and complimentary customer base and their expertise in timetable planning and optimisation is second to none. We welcome the Bellvedi team to Tracsis, and look forward to continued successes in the future.”
Bellvedi were advised on the transaction by David Neate and Rob Johnson. David commented “Bellvedi’s innovative software is market-leading and joining the Tracsis family at this stage in its development will enable the business to fully capitalise on the market opportunity. This is a great example of a strategic acquisition that should be a win win for both parties.”
How we made a difference
- Introduced an innovative deal structure not previously used by purchaser;
- Negotiated a strong upfront valuation with an earn-out to deliver further value for shareholders ;
- Negotiated working capital ; and
- Managed client and acquirer expectations through the process
John Bell, Managing Director - Bellvedi Limited
Springboard have been instrumental in making sure that this deal goes ahead, finding and communicating a deal format that worked for all parties involved. They were painstaking in answering our queries and helping make what can be an emotional process as seamless as possible.