John M. Floyd and Associates of Houston, Texas has sold the business and certain assets of IPLC Service Corporation (IPC) of Denver, Colorado to Fiserv, Inc. of Milwaukee, Wisconsin. IPC performs complete backroom item processing and data processing services for financial institutions located in the Rocky Mountain region.
Bicknell Advisory Services, Inc. of Scarsdale, New York originated the transaction and acted as financial advisor to the seller.
Bicknell Advisory was engaged by John M. Floyd and Associates to seek a buyer or strategic partner for IPC to enable the owner to concentrate on his core business of financial institution consulting. Bicknell Advisory developed a comprehensive offering memorandum which was presented to a limited number of qualified buyers.
Bicknell Advisory, through its specialization in this market, was able to control market exposure of this situation so that employees and clients would not be unnecessarily distracted. Not only were pre-qualified buyers approached, but the appropriate executive was contacted thereby expediting decisions. After in depth discussions with and review of offers from several interested parties, Bicknell Advisory recommended a Fiserv transactions and assisted with negotiations and closing.