Pacific Equity Partners acquires majority stake in leading traffic management provider, Altus Group
Altus Group (Altus), the largest full-service traffic management business in Australia, today announced that Pacific Equity Partners (PEP) has taken a majority stake in the business. PEP is a leading Australasian private markets investor that provides investee companies strategic management experience and capital resources to maximise their business performance.
Altus Group Founder and Chair David Lundberg said the investment by PEP would help accelerate the company’s growth in Australia, New Zealand and beyond and facilitate a greater focus on the use of data and technology in a fragmented industry that is still to experience significant disruption or innovation.
“This partnership with PEP will enable Altus to achieve its ambition to provide the best global traffic management technology and data systems in Australia. It means Altus can continue the relentless pursuit of the highest standards of quality and safety for our people and our clients, and for the general public who depend on us to get home safely every day.”
Altus Group operates across 20 locations throughout Australia and the transaction follows the acquisition of Traffic Diversions Group (TDG), Victoria’s largest provider of traffic management services.
TDG will be integrated with the Altus Group, which will continue to be chaired by Founder David Lundberg and current management, led by CEO Ben Marsonet. Altus CEO Ben Marsonet said PEP’s investment came at a busy period for the industry and would help the company realise its vision of providing its customers and communities the safest, most advanced and efficient work zones in Australia.
Media Contact:
Wayne Asher
Strategic Business Development Manager
wayne.asher@moduseng.com.au
0408 912 797
