Birketts has advised shareholders of Cobalt Aerospace Limited on its sale to IFPL Limited for an undisclosed sum.
The deal was led by head of Birketts’ Norwich Corporate Team, Adrian Possener, with support from William Kemp (Corporate), Melissa Willrich (Employment) and Andrew Ridout (Commercial Property). Jack Minns and Will Gibbs of Larking Gowan provided financial advice.
Cobalt Aerospace develop creative solutions and practical products for commercial aircrafts, supplying products to flag carrier airlines around the world. Directors Dan Rust and Ben Brown will continue to lead the business as part of the wider IFPL group post-completion.
Speaking after the deal was completed, Adrian Possener said: “Dan and Ben have been enormously successful in developing business in this highly technical sector. This transaction will allow them to exploit additional resources and progress as part of a bigger group at a very exciting phase in the industry’s development.
Director Dan Rust added: “The full-service offering of Birketts made then an ideal choice for legal advice. Birketts were able to bring the transaction together in a very tight timetable. We are excited to move forwards with IFPL and their team; our combined offering means we can offer customers more than ever and reach greater heights.”
Director Ben Brown also said: “Many thanks to Adrian and his team for their hard work on this deal. This transaction was handled with the upmost professionalism and Dan and I were very impressed with Birketts’ straightforward advice and common-sense approach to our circumstances. We now have our sights set on the future and pushing forwards in 2021 with IFPL.”