We are delighted to have advised on the management buy-out of Trak Global Security Solutions
Established over 12 years ago, Trak Global Security Solutions (“TGSS”) is the UK’s leading provider of stolen vehicle recovery solutions for daily rental, car club and credit hire customers. The business provides a complete, fully managed, one-stop vehicle security solution for its clients.
TGSS was a non-core division of the IMS Group (which focuses on data and telematics services to the insurance sector), and therefore the board allowed the existing Sales and Commercial Director (Dave Turnock – who founded the division within IMS) to lead a management buy-out alongside Andy Christopher, an experienced veteran in the sector.
Our team was selected to support management due to our strong sector credentials and experience of delivering deals of this nature.
We provided full buy-side support to the management team, including deal structuring, acquisition advice and marketing to attract private equity and debt offers to support an existing pool of potential High Net Worth Investors.
We received several strong offers from a variety of private equity and debt funders and secured the best deal for management from Foresight Group, who offered the closest synergistic fit and were able to provide both debt and equity investment to facilitate a more efficient deal process. We also navigated numerous rounds of negotiation with the seller to deliver an optimal outcome for our client’s needs.
The deal is a testament to our widespread coverage across the local Private Equity and TMT markets, along with our ability to manage complex carve-out transactions alongside the differing needs and requirements of the various stakeholders.
