Private equity firm LDC has sold its investment in security barrier business ATG Access to trade buyer Hill & Smith in a deal which values the business at £22.5 million.
ATG designs, manufactures and supplies high security vehicle barrier systems used to protect buildings and venues such as airports, railways stations, offices and shopping centres from terrorist attacks. The business is headquartered in Haydock near Liverpool.
LDC first backed the ATG management team in 2013 by taking a significant minority investment in the business to support its international growth and develop new products.
Since then ATG has grown its annual sales by 30% to £21.1 million. It also launched Surface Guard, a lightweight hostile vehicle mitigation barrier for use at temporary events which has been used at the London Marathon, Proms in the Park at Hyde Park and the Blackpool Illuminations switch-on.
Gavin Hepburn, Managing Director of ATG Access, said: “LDC has been a hugely supportive and strategic partner, helping the group unlock its potential in new overseas markets and supporting our continued product development story.”
Ged Gould, Senior Director at LDC in the North West, added: “The team at ATG has successfully grown the business at home and aboard, and continue to demonstrate the global demand for a quality British engineered product.