Traffic Signals Group Sold To Telent
A multi-million-pound deal to acquire TSEU Group, a specialist provider of traffic control equipment solutions and services has been given the green light.
The Leicester based company, which has an office in Walsall, has been bought by Telent – formerly Marconi – in Coventry, a provider of technology services, for an undisclosed sum.
The deal was orchestrated by Birmingham-based corporate finance advisers Orbis Partners.
TSEU Group is the holding company of Traffic Signals UK and Microsense Systems. The business supplies traffic control equipment and software solutions for traffic management.
In its last financial year, group turnover was in excess of £17 million. Customers include the local authorities of Cambridgeshire, Kent and Glasgow, and many major civil contractors including Amey Mouchel and Fitzgerald.
Telent supplies a broad range of communications support services to telecoms operators, as well large enterprises and public sector agencies in the UK, Ireland and Germany.
Formerly the UK and German services business of Marconi Corporation, the company was renamed Telent in January 2006 following the sale of the telecommunications equipment and international services operations to Ericsson.
The company employs around 2,000 staff, and last year reported a turnover of £309 million.
It was important we found the right strategic fit to enable TSEU to achieve its undoubted potential. Telent ticked all the right boxes and I am confident that in their hands the business will continue to flourish.
Gary Higgins, TSEU
The acquisition of TSEU will help us to further extend out experience and knowledge beyond the motorway network and into the cities, where we see growth opportunities driven by the need for electronic tolling and intelligent traffic information and management.
