ICON Corporate Finance has successfully advised Action Information Management Ltd (AIM) on its sale to Canadian based Trapeze Group.
AIM’s market leading telematics technologies for real-time passenger information, journey planning, and mobile workforce management complement Trapeze’s product portfolio that includes scheduling, crewing, contract and revenue management, and dispatching technologies.
Founded in 1984, AIM is an established leader in real-time passenger information (RTPI) systems, intelligent transport systems (ITS), and journey planning systems (PTI) to Public Transport Executives (PTEs), Local Authorities bus operators, and other commercial companies. Its solution offering ranges from ‘life critical’ systems for the emergency services, to dispatching and GIS-based systems, to bus fleet management and to public transport real time information systems.
“AIM and Trapeze’s combined experience, industry knowledge, and technology excellence enhances our ability to deliver world-class systems,” said Ian Keaveny, Chairman, Trapeze Group. “AIM brings valuable experience and functionality to our growing business and portfolio of real-time and intelligent transport solutions and illustrates how Trapeze is working to provide our customers with the very best technology, systems, and services in order to address the various needs of an organisation from a 360 degree perspective.”
“The combination of AIM and Trapeze is an excellent strategic fit,” said Alastair Page, Managing Director, AIM. “We are looking forward to the opportunities created for the industry through this merger.”
Eddie Harding, Lead Deal Adviser, ICON added “the acquisition of AIM by Trapeze Group is an ideal fit and represents an exciting opportunity for both companies. AIM’s product portfolio complements Trapeze Group’s offering and should benefit greatly from access to Trapeze’s global distribution network.”
Bruce Roxburgh of Roxburgh and Milkins LLP, who was the legal adviser to AIM’s shareholders on the deal, said “This was a highly satisfying transaction to be involved in as both AIM and Trapeze are enthused about the future opportunities it creates for both companies.”