Transaction Set To Put Market-Leader On Firm Foundation For The Future
The London corporate team at Irwin Mitchell has advised the shareholders of Flight Calibration Services Ltd (FCSL) on the disposal of the entire issued share capital of FCSL (together with its wholly owned subsidiary) to investment company, Literacy Capital Plc (Literacy), with the manager shareholders remaining involved with the business.
Founded in 2005 and based at Shoreham Airport, FCSL is a market-leading provider of flight inspection services to airports and national aviation authorities.
Using technology developed in-house and its fleet of six aircraft, FCSL provides testing and calibration on behalf of airports for ground-based navigational aid systems across the UK and throughout parts of Europe, the Middle East, Africa, St Helena and Bangladesh.
Most commonly, testing is performed on instrument landing systems, which enable pilots to land aircraft in conditions of poor visibility.
The transaction completed in February, and with the strengthened team and additional financial support from Literacy, FCSL will look to accelerate its overseas growth and to expand via acquisition for the first time.
Irwin Mitchell partner, James Paton-Philip, led the corporate team advising the FCSL shareholders, together with senior associate, Ben Gale, and trainee, Ben Jones, from the firm’s London office.
Matt Taiyeb, CEO, led the FCSL Team in its negotiations with Literacy Capital plc.
Expert Opinion“This deal showcases our team’s expertise, not only in the private equity space, but also in the aviation sector. We were delighted to advise the FCSL shareholders on what is part of the next phase of the company’s exciting journey.” James Paton-Philip - Partner
Matt Taiyeb said: “This deal allows FCSL to progress to the next stage of its development. We would like to take this opportunity to thank Irwin Mitchell for their guidance and support in concluding this transaction.”