Wilmington, the provider of information, education and networking services in Risk & Compliance, Professional and Healthcare knowledge areas, has announced the sale of ICP, its specialist leading credit reporting company, to its current management team. The transaction price of £3.0m will be paid in instalments over the next five years.
Since 1983 ICP has provided its global client base with accurate and high-quality company research in the Middle East, Africa, Asia, South America and offshore jurisdictions. Located in London and Dubai, ICP’s success in producing detailed company reports is based around a team of highly expert editors and researchers, some of whom have been with the business for more than 25 years.
This transaction allows Wilmington to focus its resources on its core client communities and secure a good return for shareholders from historic investments. Meanwhile, under transitional service arrangements ICP will continue to benefit from its existing technology infrastructure for up to twelve months to provide ongoing client confidence. Furthermore, the transaction structure allows ICP to invest to bring a new range of risk information products to some of world’s most challenging company reporting economies.