I Squared Capital Acquires Ramudden Global, a Leader in Traffic Management and Infrastructure Safety

I Squared Capital, a leading global infrastructure investment manager, today announced that, through its flagship fund, it has agreed to acquire Ramudden Global, from funds advised by Triton Partners (“Triton”), a leading European mid-market sector-specialist investor.

Ramudden Global is a leading international provider of traffic management and infrastructure safety services supporting the maintenance and upgrade of essential transport and utility networks. The company operates more than 190 depots across 13 countries in Europe and North America delivering mission-critical services that help to ensure safety, regulatory compliance and continuity of service across road, utility and broader infrastructure works.

This investment underscores I Squared Capital’s commitment to investing in essential, regulated, infrastructure businesses that underpin public safety, mobility and economic activity. Ramudden operates in markets where demand is steady and growing and benefits from deep commercial relationships with customers that must continue to invest heavily in maintaining and upgrading ageing roads, transport networks, and utility infrastructure. Demand is further reinforced by increasingly stringent safety and regulatory requirements for infrastructure works, raising the need for professional traffic management and safety services. Ramudden’s scale, specialized equipment, and deep technical experience enable it to deliver these services efficiently and generate strong returns.

Ramudden Global was created by Triton, together with founders and management, and formed through the acquisition of several platform companies beginning with Ramudden (Sweden) in December 2017, followed by AVS (Germany) in January 2018, Chevron (UK) and Fero (Belgium and Netherlands) in April of the same year. Following the acquisitions, the companies had a joint annual turnover of approximately EUR 280 million (USD $308 million). The individual companies were merged into a single group in 2020, expanding from one of the European market leaders into the world’s first pan-Atlantic platform, with the addition of Canada-based RSG International in 2024 and US-based Curtin in 2025.

Today, around two-thirds of the company’s operations are in Europe, with the remaining third split between Canada and the United States. The joint group turnover as of January 2026 is more than EUR 1 billion (USD $1.2 billion)¹. I Squared’s acquisition will support Ramudden Global’s next phase of growth across North America and Europe.

Mohamed El Gazzar, Senior Partner, I Squared Capital commented: “Ramudden Global is one of the clear market leaders across its key geographies providing a critical service that helps thousands of customers meet strict and regulatory-driven safety standards. For I Squared, Ramudden is well positioned to benefit from predictable, long-term spending and a high level of recurring demand. We’re excited to work with Ramudden to support its continued growth and evolution from a European leader to a world-class global infrastructure safety platform.”

Peder Prahl, Founder and CEO of Triton said: “All of us at Triton would like to thank the platform founders, group management and the company’s skilled employees for their hard work and contributions during our ownership and for their continuous efforts in building the future of Ramudden. We are glad to have been able to support the board and management to execute the long-term vision for Ramudden Global by setting the strategy and overseeing the creation of a recognized European and global champion in a fragmented and overlooked industry.”

Morten Finslo, CEO Ramudden Global said: “Ramudden Global is today well positioned to continue expanding our footprint, investing in innovation and digital solutions, and strengthening our ability to deliver safe, reliable traffic management services for our customers across Europe and North America. We are excited to partner with I Squared Capital on this transaction; they bring deep infrastructure expertise and a long-term investment approach that aligns well with our growth ambitions.”

The transaction is expected to close in the first half of 2026 subject to customary regulatory approvals and closing conditions. Financial terms were not disclosed.

About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing $50 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. The I Squared portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, its team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.

About Ramudden Global

Ramudden Global is one of the leading international providers of traffic management (TTM) services for critical infrastructure projects. It delivers end-to-end solutions that include project planning, asset provision, on-site set-up, project monitoring, and final completion.

With a team of over 5,000 employees, Ramudden is committed to delivering the highest quality in every project and advancing our mission: to get people home safely every day.

At present, Ramudden operates in 13 countries throughout Europe and North America, supporting a customer base of more than 10,000.

About Triton

Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

Disclaimers

This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only. Investing involves risk, loss of principal is possible. Specific investments described herein do not represent all investment decisions made by ISQ. The reader should not assume that investment decisions identified and discussed were or will be profitable. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future.

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