Hazlewoods Corporate Finance team, led by Paul Fussell, is pleased to announce that they have recently advised on the acquisition of MAV Systems Limited (MAV), a leading supplier of Automatic Number Plate Recognition (ANPR) cameras by The Traffic Group (TTG).
The acquisition by TTG brings an extensive range of traffic systems under one banner. MAV is already working with AGD Systems, another TTG company, in the supply of radar products to work alongside MAV’s intelligent range of ANPR cameras.
MAV has achieved excellent growth within the parking, policing and enforcement markets, both in the UK and internationally. TTG network of international channels in more than 60 countries will provide additional routes to market.
Mike Hutchinson, Chairman of TTG, said: "This acquisition comes at a very exciting time for us, with the formation of TTG to steer a group of strong companies – each a leader in its field – into a new phase of growth and expansion, with a product range that increasingly addresses the wider needs of the traffic market."
Hazlewoods led and negotiated the acquisition, advising on all aspects of the transaction to completion.
Roger Jones, Finance Director of TTG said: “Hazlewoods have consistently met and exceeded our expectations. Their professional approach has been invaluable for maximising our negotiating position and securing the transaction.”
Paul Fussell, Partner at Hazlewoods, said: “We are delighted to have been able to assist TTG achieve the successful acquisition of MAV. TTG have the expertise and network to help MAV achieve its ambitions. The transaction represents a good outcome for all parties. We wish the business and its employees every success for the future.”