Redflex to be acquired by Carlyle and Macquarie

Redflex shareholders rejected the bid by US-based private equity firm The Carlyle Group and Australia's major investment bank Macquarie Group to take over the traffic enforcement products and services specialist. Despite the Redflex board having unanimously recommended acceptance of the offer, which was AU$2.75-a-share, valuing the company at $303.5 million, the bid remained unsuccessful.

The directors of Redflex Holdings have announced the appointment of two new Australia-based non-executive directors, Paul Clark and John Murphy. Paul Clark previously held senior executive positions at PWC, EY, National Australia Bank, Bank West, Bank of New Zealand and HBOS Australia and is currently chairman of Melbourne Water, a director of the Victorian Water Industry Association and an advisory board member of Salta Properties, one of Australia's largest privately owned property companies. He has exten

Deal is set to go through in May and will create 'enhanced global reach', says Verra

Redflex Holdings has announced the appointment to the board of non-executive Director, Adam Gray, who is co-founder and managing partner of Coliseum Capital Management, an investment firm that focuses on long-term investments in both public and private companies. Prior to this, he had approximately twenty years of private equity and operating management experience. He is currently a director of New Flyer Industries and Uno Restaurant Holdings Corporation. Gray brings significant investment and operation

CTS owner is expected to be sold to private equity firms by the end of June this year