Livingstone Partners is pleased to announce the sale of Trafficlink, the UK’s leading provider of traffic and travel data to ITIS Holdings plc for £16.5 million. Trafficlink is the leading provider in the market reaching 42m people each week with real time journey information across all modes of transport through broadcasts, business and government, including the Highways Agency. The sale to AIM-listed group ITIS Holdings plc brings together the two leading UK operators in the market for real time traffic information.
Livingstone advised Trafficlink’s management and private equity backer Dunedin, which invested in the company in 2000. Dunedin provides equity finance for management buy-outs and buy-ins with a transaction size of £10 million to £75 million.
John Hudson, director of Dunedin, commented: “With increasing pressure on the road network and demand from road users for more sophisticated forms of travel information, Trafficlink’s market has taken off. Our support has enabled Trafficlink to become a dominant player in the market. Whilst there is no quick fix to congestion, through Trafficlink travellers are better informed about the challenges they may face on a particular journey”.
He added: “We would like to acknowledge Nick Somper and his team’s achievement in developing Trafficlink into a market leading business and thank Simon Cope-Thompson and Livingstone Partners for their considerable effort in facilitating the sale process”.
Simon Cope-Thompson commented: “Having worked with Nick and Dunedin for a few years, we have watched Trafficlink develop into a strong and significant market player. We are delighted to have helped the shareholders complete the deal with IT IS, who will be a great partner for the Company”.
Nick Somper, Chief Executive of Trafficlink said: “The Livingstone team were very aware of the strategic and commercial challenges that we faced as our business developed. This understanding and the commitment they showed throughout the exit process was invaluable”.
This is the ninth deal Livingstone Partners has completed within the Media & Technology sector in 2007. “The appetite for growing companies with a good track record has been extremely strong this year”, says Livingstone Partner, Head of Media, Richard Fetterman. “This sector has proven to be very buoyant in 2007 and I would anticipate this continuing as we move into 2008″.
For further information contact Media & Information Team Leader:
Tel: 00 44 20 7484 4739