Exeter based Prydis advises award winning aviation company on acquisition
Prydis has advised IFPL Group Limited on its acquisition of Cobalt Aerospace Group Limited.
Prydis is an Exeter based integrated professional services firm comprising lawyers, accountants and financial planners.
IFPL Group Limited is a company specialising in the design and manufacture of airline passenger interface solutions.
Cobalt Aerospace, based in Norwich and Miami, is a market leading designer and manufacturer of aircraft mood lighting and emergency floor path marking systems, as well as wireless in-seat power products.
Geoff Underwood, Chairman and CEO of IFPL Group, comments: “We have known Cobalt since their formation in 2013 and have watched with interest as they have brought several innovative solutions to market, with Cobalt Spectrum mood lighting and, more recently, the GLS-7 floor path marking system.
“With an upsurge in interest, and with exciting new products in the pipeline, by combining the considerable skills and expertise within both businesses we will significantly broaden our offering to our combined customer base”.
Ben Brown, Co-founder and Director of Cobalt Aerospace, comments: “We’re excited to take this step forward with our friends at IFPL, who we have long admired for their excellent products and industry prowess. This merger will allow us to combine our innovations with IFPL’s many years of expertise and impressive scale, meaning that together we can offer customers a wealth of products to enhance the in-flight experience.
“As the aviation industry begins to recover from the Covid-19 pandemic, we are looking forward to joining our teams together and entering this new phase stronger than ever.”
Chris Cook, Director at Prydis Legal and Head of the corporate team, lead the transaction and was assisted by Amanda Sells from Prydis Legal, and Kirsty Manley from Prydis Accounts (who provided accounting and tax advice).
Chris comments:“IFPL deserves every credit in executing this transaction in what is an otherwise difficult trading environment. It has been a pleasure to work with the IFPL team in identifying this opportunity and executing the plan in what was a challenging timetable.
“From my own perspective as a corporate lawyer, the ability to provide an integrated approach working alongside Prydis Accounts enabled us to provide seamless and efficient support, and we look forward to continuing working with IFPL and Cobalt on their integration.”