Altus Group (Altus), Australia’s largest full-service traffic management business, has today announced the acquisition of 100% of Traffic Management NZ (TMNZ).
The transaction will see Altus – majority owned by Pacific Equity Partners (PEP) – enter the New Zealand market in a material way, achieving unparalleled capacity to service its customers’ needs on both sides of the Tasman.
TMNZ is led by Managing Director and Founder Dean Kebbell with a 500-strong team across 19 New Zealand locations.
Ben Marsonet, Group CEO of Altus says entering the New Zealand market has been a long-term strategic goal.
“This is a major milestone for Altus and takes us one step closer to achieving our vision to be the leading full-service traffic management company in our region.
“TMNZ is a market-leading business with a strong track record of growth, talented people, and a reputation for delivering safe and efficient work zones across New Zealand.
“We are delighted to have the opportunity to work with TMNZ, to continue to invest in its people, systems and capacity – and to deploy our priority digital solutions to further improve safety on New Zealand’s roads,” he says.
Dean Kebbell, director of TMNZ says of the sale: “Traffic Management NZ has been an amazing part of our lives for more than 22 years. We are delighted to find a partner in Altus, that will enable us to take the business to the next level and bring our incredible team with us.
“The size of the opportunity in front of TMNZ is significant and requires investments, systems and structures that would be difficult for us to deploy alone. Ben and the team at Altus have seen the potential in our people and our business and we are very excited about what the future holds as we move forward together,” he says.
The acquisition of TMNZ follows recent acquisition activity by Altus in Australia. With TMNZ now part of the Altus Group, its business employs 4500+ staff, operates a fleet of 2500+ vehicles and services 50+ local communities across Australia and New Zealand.
Ben adds: “This investment in TMNZ is significant for the industry, as it gives TMNZ management good firepower to continue to build its New Zealand platform, and eye further, strategic local M&A activity.”