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 technology based 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.
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.
How we made a difference
- Identified and engaged with a number of UK and international strategic trade buyers
- Negotiated terms to maximise value of the business, including the extraction of cash, whilst while delivering substantial future investment to support of the on-going management team’s investment plans;
- Managed a competitive sales process, obtaining a number of strong offers from interested parties;
- Advised and helped resolve a number of key commercial and financial matters to help facilitate the transaction;
- Project managed the process throughout to preserve value and secure a successful completion; and
- Advised on the documenting the financial mechanism in the legal documentation.
The client on Springboard
“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. Their senior team provided helpful and practical advice at all times.”
Former Chairman, RedSpeed International Limited