RJD completes second exit from its second fund with the sale of TransLinc

RJD Partners ("RJD") has sold its investment in TransLinc, the market leader in the provision of specialised vehicles and related services to local authorities and the utilities market, in a trade sale to May Gurney Integrated Services plc announced today.

The transaction values TransLinc at £65.6 million, giving a return to RJD of approximately 2.7x its original investment and an IRR of 26%. TransLinc is the second realisation from RJD’s second fund, RJD Private Equity Fund II.

RJD backed the £50 million buyout of TransLinc in June 2007.

Having originally been formed within Lincolnshire County Council, TransLinc has grown to become the market leader in its field with an extensive local authority customer base and nationwide operational coverage. TransLinc is distinguished in its market by its ability to offer customers a bespoke ‘one-stop’ service and by its excellent relationships with the key decision makers in its industry.

Under Paul Wood, Managing Director, and David Foulds, Finance Director, TransLinc has achieved significant success and consistent growth and now represents a strategic acquisition for May Gurney.

RJD has a strong track record of investing in the support services sector, previously achieving successful realisations with Teaching Personnel and Emprise.  

Alex Hay, Partner, RJD Partners comments: "We are delighted to have worked with Paul Wood, David Foulds and a high quality team at TransLinc. With RJD’s support the team has built TransLinc into a clear market leader in its field and the business represents a strategic and compelling acquisition for May Gurney. This transaction delivers a highly successful exit for RJD and our funds."

Paul Wood, Managing Director, TransLinc says: "We have enjoyed working with RJD to develop TransLinc’s offering within a dynamic and growing market place. There remain considerable opportunities for the business to grow further as it continues to focus on its customers’ needs within a difficult fiscal environment. The team is looking forward to becoming part of the May Gurney group and developing the business as part of a larger organisation."

RJD Partners and the other shareholders of TransLinc were advised by teams led by Matt Waddell and John Lane at PwC LLP (corporate finance advice) and Mark Spinner and Stephen Kitts at Eversheds (legal advice).

The contents of this news release are intended for information purposes only. RJD Partners Limited does not provide investment advice and we strongly recommend that before making any decision to invest or engage in any investment activity, you should obtain proper professional advice. See our full terms & conditions.  RJD Partners Limited is authorised and regulated by the Financial Services Authority in the conduct of investment business in the UK. RJD Partners Limited is registered in England and Wales No. 04245768. Registered office: 8/9 Well Court, London EC4M 9DN.