City law firm Fox Williams LLP has advised the Ticketer senior management team and Corvia Limited (trading as Ticketer) on a substantial investment by Tenzing Private Equity into the Ticketer business.
Since entering the market in 2010, Ticketer has grown to become the UK market leader at the forefront of smart electronic ticketing technology across the bus sector. Ticketer’s software enables passengers to use the latest payments technologies, whilst providing bus operators with real-time performance insights to improve efficiency, service levels and profitability.
Widely renowned as the most innovative provider in the industry, Ticketer’s clients include some of the largest national operators, including First Bus, Arriva, and Go-Ahead.
Fox Williams advised the senior management team and company on all aspects of the sale, debt and equity documents required to implement the new group structure, in which managers retain an equity stake, as well as drawing on the expertise of IP, data protection, tax and employment law specialists within the firm.
Paul Osborne, senior partner, led the Fox Williams team together with corporate partners Doug Preece (equity side), Paul Taylor (banking), legal director Sean Williams, associates Bethany Silkin and Freddie De Boise and tax partner Emma Bailey. Paul commented “It was a pleasure for my firm to help Ticketer and its management team, some of whom we have advised for more than 30 years, secure the funding required to continue their growth in the UK and expand internationally. The deal highlighted our expertise in the digital business field and technology sector.”
John Clarfelt, CEO of Ticketer said “We have big ambitions for our business and wanted an investment partner who shared our ethos and vision. Our goal is to build on Ticketer’s growth in the UK and to satisfy our clients’ demands by expanding internationally. We had complete faith in the Fox Williams team who worked, as always, exceptionally hard to deliver a successful outcome within a very tight timetable. We greatly appreciate their commitment, support and guidance throughout, yet again we owe them a significant debt of gratitude.”