Dorset-based law firm Trethowans has advised the Mason family, the founders and sellers of i247 Group, on the investment made by leading private equity investor LDC into the business.
Headquartered in Poole, i247 helps vehicle leasing companies to manage their fleets more efficiently and effectively via its proprietary technology platform, Flex 247.
i247 has achieved strong growth in recent years, driven by long-standing customer relationships, investment in its market-leading technology, and a data-led approach to fleet management. LDC is backing i247’s management team, led by CEO Sam Mason, and will support the company’s ambitious growth strategy.
Trethowans acted for the Mason family throughout the transaction, advising on all legal aspects of the sale, rollover investment and providing comprehensive support to the family through each stage of the process. The Trethowans team comprised corporate partner Mark Nixon and associate Zaeem Mughal, with additional support from the wider Corporate team, as well as expertise from across the firm including Employment, Intellectual Property, Banking & Finance and Commercial Property.
The Mason family were additionally supported on the financial aspects of the transaction by Saffery, who have acted for the i247 Group as longstanding advisors.
This investment represents another strong example of a successful Dorset-based business attracting institutional backing. It also marks the realisation of many years of dedication, innovation and hard work from the founders and the wider i247 team.
John Mason, Founder of i247 said: “Reaching this point has been the result of many years of continual strategic change, remodelling and improvement, building i247 into a resilient, sustainable platform capable of significant long-term growth. To have grown the business from just four people over 20 years ago into an ethical, industry-renowned organisation with a nationwide reputation for quality, service, delivery and technical innovation has been immensely rewarding. The greatest privilege has been sharing that journey with my family and the hundreds of brilliant team members who helped shape the company. My thanks also go to Trethowans for their invaluable advice, guidance and execution throughout the transaction, alongside the continued support of Saffery.”
John continued: “With Sam’s leadership, and the significant backing and support from LDC, I have every confidence that the sky is the limit for i247. I know the business will continue to create the same opportunities, satisfaction and reward for the team and our partners as it has for me and my family.”
Sam Mason, CEO of i247 said: “Our partnership with LDC gives us the firepower to accelerate growth while continuing to focus on the exceptional service and innovation that has helped us to achieve our success so far. LDC brings sector experience in technology and automotive meaning they understand our market, and a local presence.”
Mark Nixon, corporate partner at Trethowans, further commented: “It has been a privilege to work with the Mason family on this milestone transaction. i247 is an exceptional Dorset business built on innovation, resilience and a deep commitment to customer service. The investment from LDC is a testament to the strength of what John, Sam and the team have created, and we are delighted to have supported the family as they take this exciting next step.”
