24 Jan 2005
ICON advised the shareholder of Smartronics on the sale of the company to NMR Plc.
Smartronics has developed a business critical service that combines the latest RFID and hand held reader technology with the power of the internet. The company uses RFID (Radio Frequency Identification) to collect data on commercial tyres that allows bus and transport operators to monitor wear and tear on their fleets.
Smartronics has worked with the world's leading tyre OEMs for over five years to establish a benchmark system for the industry.
"ICON acted for NMR with regard to their 50% investment in Smartronics effecting a buy out from the existing management. Their wealth of experience and transaction expertise helped steer through a politically sensitive deal that got the job done - ICON made it happen."
Andy Warne, CEO, NMR Group