Private equity firm IK Investment Partners has sold Ramudden, which provides work zone safety control services, to private equity firm Triton.
Ramudden was founded in 2005 and operates in Sweden, Norway, Finland and Estonia.
It provides the rental of equipment such as traffic barriers and road signs, as well as services including traffic arrangement planning, surveillance and maintenance. Its customers are mainly civil engineering contractors and construction companies.
The business employs over 450 people and will have a turnover of more than 700 million SEK (£63.2 million) in 2017.
Kristian Carlsson Kemppinen, Partner at IK Investment Partners said: “During the past 3.5 years we have worked closely with the management team to transform the business from a provider of temporary traffic control services to a work zone safety specialist. The company has more than doubled the turnover, and successfully executed five add-on acquisitions, strengthening their presence in core geographies and expanding into the Baltics.”
Hans-Olov Blom, CEO and founder of Ramudden, added: “IK has been instrumental to Ramudden’s significant growth over the past couple of years. Thanks to their support, we have been able to rapidly expand our depot network, improve our operational structure and invest even more in our staff.”
Carl Johan Falkenberg, Triton advisor said: “Ramudden is a great company with an impressive growth profile. We are convinced about the positive fundamentals of this industry segment and are looking forward to supporting the growth in the coming years.”