LDC has sold Vysionics, a UK-based speed enforcement business, to Jenoptik, an optoelectronics firm listed on the Frankfurt Stock Exchange.
The "multi-million-pound" sale sees LDC return more than 2x its original investment.
The new owner will expand Vysionic's global reach. Jenoptik has revenues of around €600m and is headquartered in Germany.
LDC acquired a majority stake in Speed Check Services in 2010 through a £9m commitment to the company, designed to underpin the acquisition of Computer Recognition Services. HSBC provided a senior debt package to support the deal, which created Vysionics.
Based in Frimley, Surrey, Vysionics provides automatic number plate recognition traffic enforcement, access management and information systems to public and private sector organisations. Clients are based in the UK and abroad and include highway authorities, construction contractors and police forces.
The business was founded in 2010.
Under LDC's ownership, Vysionics has focused on product development, ongoing investment in R&D and global expansion. Turnover has risen from £9.3m in 2010 to £16m in 2014.
LDC's South West team led the transaction, headed up by Alistair Pendleton, investment director.
Vendor – EY (Financial due diligence); TLT (Legal); Deloitte (Corporate finance).
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