Fourth deal revealed in £20 million investment drive
By Andrew Merrell | 28th May 2019
The fourth deal in an investment drive totalling £20 million has been revealed by a fast-growing Gloucestershire business.
Staverton-headquartered traffic lights specialist AGD Systems Limited has acquired Hampshire-based Radix Traffic Limited as it continues its ambitious expansion plans.
The manufacturer and supplier of specialist traffic equipment for assistance of visually-impaired pedestrians is now part of the AGD group in a deal made possible by another Gloucestershire business - Hazlewoods, and in particular the firm's corporate finance team.
Pete Hutchinson, managing director of AGD, said: "This is the fourth successful deal Hazlewoods has negotiated for us, totalling nearly £20 million investment and we are very pleased with the support and advice that they offer."
He added: "As one of the largest manufacturers of nearside signal equipment in the UK market, AGD has been a very satisfied customer of Radix for many years.
"There's a natural fit between our product ranges and this acquisition comes at an exciting time for us, allowing us to build on the Radix brand with AGD know-how.
"Putting it all together makes sense because it means customers can continue to benefit from the Radix best-in-class product but now as part of the bigger AGD portfolio.
Hazlewoods led and negotiated the acquisition, advising on all aspects of the transaction to completion.
Paul Fussell, partner at Hazlewoods and the man who led the corporate finance team on the recent deal, said: "We are delighted to have been able to assist AGD with the successful acquisition of Radix. The transaction represents a good outcome for all parties. We wish the business and its employees every success for the future."
The Radix tactile indicator allows visually-impaired individuals to hold a cone which protrudes from the signal box at pedestrian lights. When it is safe to cross, the cone starts rotating as the green man appears. This acquisition is said to "broaden AGD's product offering".
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