Speed Check Services, a Frimley, UK supplier of traffic management solutions, has secured £9m in funding from mid-market private equity firm LDC.
An undisclosed senior debt financing was also provided by HSBC Leveraged Finance to support the company’s expansion.
The company provides average speed camera systems with Home Office Type Approval, which is required for legal enforcement. Its products have been used in almost 250 locations by the Highways Agency and Local Authorities to improve safety and driver behaviour on motorways and trunk roads, during maintenance works and along routes with a collision history.
Speed Check Services will use the funds to accelerate to accelerate its new product development programme.
As part of the transaction, Bruce Brain will join the board as chairman, alongside LDC investment director Ian Podmore.
FinSMEs
18/03/2010