Reading: Spectrum Corporate Finance advises on £5.1m sale of Impatex

Spectrum Corporate Finance has successfully led the disposal of Impatex Freight Software to Descartes Systems Group for £5.1 million.

Descartes Systems Group (Descartes) is the global leader in uniting logistics-intensive businesses in commerce, while Impatex Freight Software (Impatex) is a leading provider of electronic customs filing and freight forwarding solutions in the UK.

The European customs compliance market is characterised by a complex framework of member states, each with different regulations, languages and systems. Transportation carriers, logistics intermediaries and shippers look to technology partners, like Descartes and Impatex, to manage this complex environment.

Impatex, headquartered in Cadnam in the New Forest, brings more than 200 freight forwarder customers to Descartes' global logistic network, with the majority of these being in the UK. By combining Impatex's leading UK customs and forwarding solutions with Descartes' global community of logistics participants and logistics management solutions, customers now have a single trusted partner to help them manage their shipments across the globe.

Descartes funded the purchase price for this acquisition by drawing on its existing acquisition line of credit.

Peter Day, shareholder at Impatex, commented: “We were delighted with the full team approach from Spectrum in helping us prepare the business for sale and taking us through the transaction in a very hands-on style, and maintaining the momentum and interest from Descartes.”

Simon Davies, managing director at Spectrum Corporate Finance, said: ”This is a great deal for a small but highly-niche business. Pete and Sue Day have grown and sustained the business over many years, and it was a real pleasure to work with them and help them achieve their objectives on an exit.”