Infrastructure fund manager I Squared Capital is buying Ramudden Global, an infrastructure safety company, from European investment firm Triton.
The purchase price is believed to be close to €2.5bn, according to industry sources.
Ramudden Global provides traffic management and infrastructure safety services, with around two-thirds of its operations in Europe, and the remaining third split between Canada and the US.
The company has a turnover of more than €1bn. I Squared said it will support its next phase of growth across North America and Europe.
During Triton’s ownership, Ramudden Global completed more than 66 add-on acquisitions and expanded its operations to more than 190 depots across 13 countries in Europe and North America.
Peder Prahl, founder and CEO of Triton, said: “All of us at Triton would like to thank the platform founders, group management and the company’s skilled employees for their hard work and contributions during our ownership and for their continuous efforts in building the future of Ramudden.
“We are glad to have been able to support the board and management to execute the long-term vision for Ramudden Global by setting the strategy and overseeing the creation of a recognised European and global champion in a fragmented and overlooked industry.”
Mohamed el Gazzar, senior partner at I Squared Capital, said: “Ramudden Global is one of the clear market leaders across its key geographies providing a critical service that helps thousands of customers meet strict and regulatory-driven safety standards.
“For I Squared, Ramudden is well positioned to benefit from predictable, long-term spending and a high level of recurring demand. We’re excited to work with Ramudden to support its continued growth and evolution from a European leader to a world-class global infrastructure safety platform.”
Morten Finslo, CEO of Ramudden Global, said: “Ramudden Global is today well positioned to continue expanding our footprint, investing in innovation and digital solutions, and strengthening our ability to deliver safe, reliable traffic management services for our customers across Europe and North America. We are excited to partner with I Squared Capital on this transaction; they bring deep infrastructure expertise and a long-term investment approach that aligns well with our growth ambitions.”
The transaction is expected to close in the first half of 2026, subject to customary regulatory approvals and closing conditions. Financial terms were not disclosed by the parties.
Triton and I Squared Capital have agreed that Triton has the option re-invest up to 20% of the equity going forward as a new commitment which Triton will evaluate during January 2026, the buyout specialist added.
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