Harrison Clark Rickerbys support Cheltenham-based Angels4Angels in investment in pioneering aviation firm Intercede Ventures Limited
PUBLISHED: 10:29 30 November 2015 | UPDATED: 10:45 30 November 2015
Leading Cheltenham law firm Harrison Clark Rickerbys has led a six-figure transaction between Angels4Angels and Intercede Ventures Ltd, enabling the aviation firm to develop products and markets and the business angel syndicate to invest in an innovative and exciting business. In association with the University of the West of England (UWE), Intercede Ventures Limited (IVL) has developed a unique instrument for measuring the surface condition and drag factors on aircraft and other aerodynamic surfaces. IVL’s unique aviation instrument will bring fuel cost savings, other efficiencies and reduction of the aircraft operators’ carbon footprint.
Graham Mimms - Intercede Ventures Limited, Managing Director comments, “We are delighted to welcome the support and financial expertise that Angels4Angels brings to our project, enabling us to focus our efforts on further product development and marketing our carbon footprint reduction systems to international markets. Through our collaborative working relationship with the international aircraft cleaning manufacturer Chemetall – Intercede Ventures will commence marketing its airline carbon footprint reduction aircraft surface management service in 2016 through Chemetall’s global distribution network.”
Leading the investment into Intercede Ventures Limited is Angels4Angels, a group of investors led by Cheltenham businessmen David Cribbin and John Caines. The group provides an effective and free service to individual investors seeking high returns from backing early stage businesses. “We look for exciting business opportunities led by passionate entrepreneurs and backed by credible lead investors,” said David Cribbin, who co- founded Angels4Angels after his own highly successful business career enabled him to invest in small businesses. “Intercede Ventures is exactly the sort of business in which we are keen to invest. Their proposition is unique and will add real value to those aircraft operators adopting it. The founding directors of Intercede Ventures have well over 100 years of experience in the airline industry at senior managerial and director level. Their understanding of, and contacts in the industry further strength the potential of the business.“
Chris Cook, Associate Solicitor in Harrison Clark Rickerbys’ corporate team in Cheltenham, led the transaction. He comments: “It’s great to once again work with Angels4Angels on another promising deal for investors. Intercede Ventures already has an established foundation to work from, and with investment has plenty of potential for growth and to strengthen its position in the marketplace.”