asb law advises on Â£6m Springboard MBO
Crawley-headquartered asb law has advised YFM Equity Partners on its £3m investment in the £6m management buyout (MBO) of Springboard Research.
The Bedford-based company provides footfall, dwell time and conversion rates, sales analysis and data driven insights.
The investment will enable Springboard to "capitalise on business growth opportunities in the UK", as well as further expansion in North America and Europe.
asb's role in the deal was to act for YFM, focusing on the terms of the investment, detailed due diligence on Springboard Research and negotiating the terms of the share purchase.
The team at asb was led by Rebecca Burford and head of corporate finance Helen Mead.
Mead said: "We were delighted to play our part in the transaction and enjoyed working with everyone involved. I will be keen to see how Springboard develops with support from YFM and look forward to continuing to work with YFM."
Springboard, which employs 27 staff at its headquarters in Cranfield, was launched in 2002. The company works in partnership with more than 300 shopping sites across the UK to measure and analyse over 60 million footfall counts per week.
As part of the deal, Tim Bittleston, former chief executive of Avery Berkel UK, Pennine Retail Systems and Digipos, will join as non-executive chairman. He joins the core management team of chief executive Steve Booth, marketing and insights director Diane Wehrle and retail director Stuart Margetts.