Motus Traffic Acquires Traffic Signals Co-operative
Motus Traffic is delighted to announce the acquisition of Traffic Signals Co-operative (TSC), in a move supported by Yorkshire Bank.
The acquisition will substantially boost their business within the traffic systems supply, installation and maintenance marketplace. Shorts Chartered Accountants acted as lead advisers on the deal.
Motus Traffic Company Background and Operations
Motus is a Sheffield based company which was founded in 2007. It manufactures, supplies, installs and maintains traffic signal control technologies in both the urban and inter-urban markets. Traffic Systems Co-Operative (TSC) is a Worker Co-operative also based in Sheffield, trading since 1982 in traffic signal engineering and servicing maintenance contracts across the North of England and Wales.
L – R Andy Ryder (Shorts Chartered Accountants), Iain McDonald and Jim Booth (Motus Traffic), Steve Wicks (Yorkshire Bank)
Growth and Integration Following Acquisition
Motus has experienced sustained growth from inception through the delivery of superior Integrated Transport System (ITS) solutions, materials, services and products. The combined business will have an annual turnover of around £8m, and employ approximately 90 staff.
Leadership and Management Team for New Entity
With over 30 years’ experience within the industry, Jim Booth Managing Director of Motus Traffic Limited will head the new company, assisted by his General Manager, Iain McDonald, who has been developing the Motus portfolio and brand for more than five years.
Jim Booth said: “The acquisition brings together two of the strongest players currently in the Traffic Signal Technology market and will provide huge levels of expertise that will benefit both long standing and new customers alike.”
Key Advisors and Deal Support for Acquisition
Andy Ryder, Corporate Finance partner at Shorts Chartered Accountants led on the deal with support from Andrew Grant, Tony Downs and Kate Smith. Andy commented “It was great to work with the directors and senior managers of Motus Traffic Limited to complete this strategically important acquisition. I believe the combined business is now in a great position to capitalise on the opportunities available to it.”
Yorkshire Bank’s Role in Financing the Deal
Motus’ existing bankers Yorkshire Bank provided significantly increased facilities to support the acquisition and will also provide future working capital. Steve Wicks who led the transaction for the Bank said: “It has been fantastic to see the growth Motus has experienced over the last few years which has prepared the company for this acquisition. We are proud to be supporting a move that joins together two businesses that share an impressive level of industry knowledge. This transaction demonstrates the renewed confidence we are now seeing within the business community and we will continue to invest in the growth ambitions of the local businesses in the region.”
Kiley Tan of Wosskow Brown Solicitors acted for Motus whilst Duncan Shepherd of Wake Smith acted for Yorkshire Bank.
