HARRISON Clark solicitors, which has offices in Worcester and Cheltenham, has acted for GIL Investments on the management buyout of the Road Transport division of Reed Business Information, part of Reed Elsevier Group plc.

The deal was completed at the end of February with the resulting new company, Road Transport Media Limited, aiming to be a leading provider of information to the road transport market in the UK.

David Grove, chairman of GIL Investments, said: "We have often found that the growth strategy of large businesses results in smaller divisions becoming non-core and thus appropriate for divestment.

“Our team, led by our investment director Richard Banham, will give the management of Road Transport Media Limited the autonomy and flexibility they need to succeed."

Harrison Clark's corporate team, led by corporate partner Richard Wilkey, advised GIL Investments on the acquisition and equity arrangements.

Mr Wilkey said: "This was GIL's first media acquisition and it was great to be able to work with the GIL team and assist them in seeing this transaction through.

“The GIL team is very strong and in working with the management team of Road Transport Media Limited I am sure that this will prove to be a successful partnership going forwards."

The management buyout marks a further success for Harrison Clark’s 14-strong corporate team, which announced a record first quarter in April.