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Inflexion Private Equity, the mid-market private equity investor, announces today that it has led the £25m MBO of Advanced Communications and Information Systems Ltd (ACIS), the leading UK real time passenger information system provider.
ACIS is by far the UK market leader, with 50% of the available market. The market for real time information systems for public transport has grown strongly and continues to expand, reflecting a broad commitment to enhancing public transport usage and functionality.
The management buy-out team, led by Ian Buckley and Steve Baker, have a combined 50 years of transport, RTPI and technology experience with companies such as Peek Traffic Services, Arriva and Evans Halshaw, and are well respected in the industry.
Funds managed by Inflexion have invested £10m through a mixture of loan notes and equity for a significant majority stake. The management team has also invested a substantial sum, Barclay’s have provided senior debt and mezzanine.
Simon Turner, joint CEO of Inflexion Private Equity, said:
“The Government and local authorities are increasingly focusing on managing unsustainable traffic volumes, and have dramatically increased public transport budgets. As the market leader in traffic and transport information systems, ACIS is well placed to benefit from the development of a more effective transport infrastructure. We are particularly impressed with the management team, who have been at the forefront of this sector since its inception.”
Ian Buckley, CEO of ACIS said,
“This is a very exciting time for ACIS and we are delighted to announce our new partnership with Inflexion. Their management experience and funding will enable us to grow and develop the significant opportunities in traffic and public transportation management. We are all looking forward to working with them to take the company to the next stage.”
Simon Turner and Christian Hamilton from Inflexion will join the Board of ACIS.