Cheltenham-based traffic signal and monitoring design and manufacturer, AGD Systems Limited (AGD), has bought Hampshire-based Radix Traffic Limited (Radix), a manufacturer and supplier of specialist traffic equipment for assistance of visually-impaired pedestrians
AGD was advised by accountants’ Hazlewoods, Corporate Finance team, led by Paul Fussell.
The Radix tactile indicator, when fitted to the familiar nearside signals, allows visually-impaired individuals to hold a cone which protrudes from the signal. When it is safe to cross, the cone starts rotating as the green man appears. This acquisition broadens AGD’s product offering.
Pete Hutchinson, Managing Director of AGD, said: “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.
“This is the fourth successful deal Hazlewoods has negotiated for us, totalling nearly £20 million investment.”
Hazlewoods led and negotiated the acquisition, advising on all aspects of the transaction to completion.
Paul Fussell, Partner at Hazlewoods, 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.”