A Devon company which is one of the country’s leading providers of traffic management services has secured a Â£25million funding package to accelerate its growth across the UK and explore future acquisitions.
Amberon, which has headquarters in Paignton, has grown from a small traffic light rental company to a specialist traffic management services provider with 18 depots, a 350-vehicle fleet and nearly 500 employees.
Its services span a wide range of safety solutions to support planned and emergency repairs, from traffic lights, signage and convoy working to variable message signs and CCTV. Projects range from road closures on low-speed, urban and rural sites to complex, high-speed contraflow schemes on dual carriageways and motorways.
The business, which works with major infrastructure contractors as well as local authorities and utility companies, generated record sales of Â£26m in its last financial year.
Amberon has secured a Â£25m funding package from private equity investor LDC and HSBC bank to back the management buyout of the business and roll out new depots and services.
As part of its investment, LDC will take a significant stake in the fast-growing company alongside the current management team – led by managing director Terry Musson and commercial director Daniel East – while enabling its founder shareholders to exit the business.
Working with LDC, the management team plans to accelerate its growth outside of its South West of England and Wales heartland by opening further depots to service work in the Midlands, North West, South East and East, as well as launching new complementary services.
Amberon said it would also explore potential acquisitions as part of its bid to secure a greater share of the market.
Alongside LDC’s investment, David Garman, former chief executive of…