Springboard Corporate Finance is delighted to announce that it has advised the shareholders of technology business RedSpeed International Limited on the sale of the company to Stockholm-based Sdiptech AB.
About the deal
RedSpeed is a leading supplier of solutions to the traffic enforcement industry, specialising in the development, manufacture and maintenance of digital enforcement cameras. Based in Kidderminster, the company has a primary focus on the UK market but is also seeing increasing interest for their products from customers in the EU and the rest of the world.
Robert Ryan, Managing Director of RedSpeed International Ltd, said “I am very pleased to welcome Sdiptech as the new owners of RedSpeed International Limited. With the help of Sdiptech we can continue to deliver our specialist technology to our customers in the UK as well as abroad and become a company that will rival the best in the world in the market of traffic control and enforcement.”
Sdiptech AB is a Swedish technology group with a primary focus on infrastructure segments critical to well-functioning societies and to welfare, e.g. water & sanitation, power & energy, transportation, energy efficiency and air climate. The company employs more than 1100 people around the world and is listed on the Swedish stock exchange.
Justin Sparks and Director James Bailey advised the shareholders of RedSpeed on the sale. Justin commented “RedSpeed is a great local success story. We are delighted to have supported the shareholders in delivering an excellent outcome and to find the management team an international strategic partner to build on RedSpeed’s historic success.”
How we made a difference
- Identified and engaged with a number of UK and international strategic trade buyers;
- Negotiated terms to maximise value, including the extraction of cash, whilst delivering substantial future investment to support the on-going management team’s investment plans; and
- Advised and helped resolve a number of key commercial and financial matters to help facilitate the transaction.
The former owner, RedSpeed International
I have previously worked with other advisers to sell my businesses and Springboard brought a fresh approach to this transaction. I am very happy with the outcome of the sale, Springboard were fully committed to making it happen and their senior team provided helpful and practical advice at all times.