Yorkshire traffic control manufacturer makes acquisition
MOTUS Traffic, a manufacturer of traffic signal control technologies, has made an acquisition which is hoped will significantly boost business.
Sheffield-based Motus has acquired Traffic Systems Co-Operative (TSC) – a worker co-operative, also based in Sheffield, which has trading since 1982 in traffic signal engineering and servicing maintenance contracts across the North of England and Wales.
Motus was founded in 2007 and manufactures, supplies, installs and maintains traffic signal control technologies in both the urban and inter-urban markets. Motus has experienced sustained growth from inception through the delivery of superior Integrated Transport System (ITS) solutions, materials, services and products. The combined business will have an annual turnover of around £8m, and employ approximately 90 staff.
Yorkshire Bank supported the deal and Shorts Chartered Accountants acted as lead advisers.
Jim Booth, managing director of Motus Traffic, will head the new company, assisted by his general manager, Iain McDonald.
Booth said: “The acquisition brings together two of the strongest players currently in the Traffic Signal Technology market and will provide huge levels of expertise that will benefit both long standing and new customers alike.”
Andy Ryder, corporate finance partner at Shorts Chartered Accountants led on the deal with support from Andrew Grant, Tony Downs and Kate Smith. Ryder said: “It was great to work with the directors and senior managers of Motus Traffic to complete this strategically important acquisition. I believe the combined business is now in a great position to capitalise on the opportunities available to it.”
Motus’s existing bankers Yorkshire Bank provided increased facilities to support the acquisition and will also provide future working capital.
Steve Wicks who led the transaction for the bank said: “It has been fantastic to see the growth Motus has experienced over the last few years which has prepared the company for this acquisition. We are proud to be supporting a move that joins together two businesses that share an impressive level of industry knowledge. This transaction demonstrates the renewed confidence we are now seeing within the business community and we will continue to invest in the growth ambitions of the local businesses in the region.”
Kiley Tan of Wosskow Brown Solicitors acted for Motus and Duncan Shepherd of Wake Smith acted for Yorkshire Bank.
