Private equity firm LDC has sold its stake in traffic management services business Amberon to H2 Equity Partners.
Amberon is headquartered in Devon and provides traffic management services, offering safety solutions to support planned and emergency repairs including traffic lights, signage and CCTV. It has a fleet of over 400 vehicles and employs over 550 people.
LDC acquired the stake in June 2017 when it backed the management buyout of the business as part of a £25 million funding package. In the 18 months since then Amberon has grown its turnover by 23% to £37.5 million and opened six new depots to create a 24-strong depot network. It also acquired a business providing installation and repair services to motorway barriers.
Terry Musson, Managing Director of Amberon, said: “Partnering with LDC has helped us to drive growth in our business more quickly than we anticipated, all without losing the Amberon way of doing things. We’ve enjoyed working with the team and have benefited from their financial support, expertise and strategic guidance, as well as their trust in us to deliver."
Simon Hemley, Investment Director at LDC in the South West & Wales, added: “Throughout our partnership the team at Amberon have built on their strengths in the South West to establish the company across the UK as a leading providers of road safety and traffic management services. With a stellar reputation for customer service and high safety standards amongst highway operators, the business now has a springboard to grow even further.”