Just the Ticket
November 2006
Traffic Support Ltd (‘TSL’), a leading player in the provision and support of software and related services associated with the parking, traffic management and enforcement markets has been acquired by Mouchel Parkman plc (‘Mouchel’) in a £26.3m cash transaction.TSL employs sixty staff at offices in London and Warrington and was formed in 2000 with the objective of becoming the UK’s number one provider of parking enforcement solutions. It has expanded into other product markets including civil enforcement and e-government solutions. The company is now well-established, with 44 contracts throughout the UK and Ireland, making it the number one in the market.
Nigel Morgan, the Livingstone Director who led the deal commented: “Like TSL, Mouchel have long established relationships with local authorities that provide a good customer base and the opportunities to expand activities including CCTV, electronic and telephone payments and document management. TSL’s software platform and service driven business model proved very attractive to both trade and private equity, giving shareholders a range of options in selecting the most attractive and deliverable deal.”
John Philips, TSL chairman, said afterwards: “Livingstone achieved exactly what the shareholders wanted – the sale of the company to an organisation that would take it to the next level. The difference between them and others is that they own their business so they were keen to see the deal go through. They were totally focused, on the case unceasingly, and putting themselves in our shoes to appreciate exactly what we wanted.”
Gordon Blair, the Livingstone partner who heads the Technology team says: “The team created a really attractive business from nothing to market leader in six years. We had significant interest in TSL so the auction process was hotly contested, but Mouchel won by a narrow margin and they delivered the deal exactly as set out in the Heads of Terms.”
Gordon Blair, partner
Tel: 020 7484 4705
Email:gblair@livingstonepartners.co.uk
Nigel Morgan, director
Tel: 020 7484 4733
Email: nmorgan@livingstonepartners.co.uk
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L to R: Nigel Morgan - LG, Barry Johnson and Simon Meyer - TSL, Gordon Blair - LG, and Andrew Ferguson - Baird Capital Partners Europe