A rapidly-growing company offering highway soft estate maintenance and environmental consultancy to their tier one client base has been bought by Chevron Traffic Management, in a deal completed by corporate finance specialists Watersheds, which is based in Northampton.
Camps Highways and Camps Environmental Services, which were established by Powys-based Michael Camps in 2010 and have a turnover of £5m, employ over 35 people across their premises in Presteigne (mid Wales), Worcestershire, Hampshire and Cambridgeshire.
Chevron TM is the leading digital work-zone safety company in the UK, providing traffic management services across critical low-speed and high-speed infrastructure, as well as the Utilities, Rail and Events sectors.
Camps Highways provides highway soft estate services – including the maintenance of green road verges and central reservations, tree works and weed control. Camps Environmental Services supplements this offer with a range of specialist arboricultural, landscape and environmental consultancy services.
Chevron TM is backed by Scandinavian private equity group Triton, who saw the value in the companies’ respective management teams as well as the supplementary services that the acquisition would allow each of them to offer their current customers.
Founder Michael Camps said that he was delighted with the deal.
“Watersheds were there every step of the way to guide us through the process, from inception all the way through to completion,” he said.
“Their advice and support was invaluable, and their hands-on approach allowed us to focus our time on running the business during a period of exceptional growth.
“Due to their input we felt confident throughout the process, having never done something like this before. We are excited to start the next chapter with Chevron TM, who we feel is a perfect partner, that shares the same core values and focus on quality of service that we pride ourselves on.”
Dan Wright, the partner at Watersheds who acted for Michael Camps, said the deal went through in a short time frame, despite the fact that it was completed during the third pandemic lockdown.
“We are delighted to have advised the shareholders of Camps Highways and Camps Environmental Services on the sale to Chevron TM,” said Dan.
“The strategic transaction will allow the majority shareholder to exit, whilst providing the strong management team the platform to continue to grow the business, enhanced by the knowledge and resource of Chevron TM.
“Chevron TM are a great fit with Camps, providing opportunity to access to larger, previously unattainable contracts, and having strong synergies from their supplementary services. We wish them all the best on the next phase of their ambitious growth plans.”
Michael Brooke of accountants Ross Brooke of Newbury, the incumbent accountants, provided accountancy services throughout the transaction. The legal advice on the sale was provided by James Worrall, a partner at Royds Withy King’s Bath office.
Dan said: “It has been a please to work with such a great team of local advisors to deliver a fantastic result for our mutual client.”