Triton to sell Ramudden Global to I Squared Capital

Miami (United States) / Stockholm (Sweden) , 6 January 2026 — Funds advised by Triton Partners (“Triton”), today announced that it has signed an agreement to sell Ramudden Global, to I Squared Capital.

Ramudden Global is the leading international provider of temporary traffic management services for critical infrastructure projects. Ramudden Global operates a network of more than 190 depots across 13 countries in Europe and North America. Ramudden has over 5,000 highly specialized employees supporting a customer base of more than 10,000 by delivering critical services that ensure safety compliance for road, utility and infrastructure works.

Ramudden Global was created by Triton together with founders and management and formed through the acquisition of several individual platform companies beginning with Ramudden (Sweden) in December 2017, followed by AVS (DACH) in January 2018 ,  Chevron (UK) and Fero (Benelux) in April the same year. Following the acquisitions, the companies had a joint annual turnover of about EUR 280 million (USD $330 million).  The individual companies were merged into one group in 2020, growing from European market leader to the world’s first pan-Atlantic platform with the addition of Canade-based RSG International in 2024 and US -based Curtin in 2025. The joint group turnover as of January 2026 is more than EUR 1billion (USD $1.2 billion).

The sale highlights Triton’s repeatable buy-and-build playbook, combined with its hands-on operational value-creation capabilities. During Tritons ownership, Ramudden Global has completed more than 66 add-on acquisitions, expanding into adjacent geographies and rolling out market-leading digital technology across the group.

The company operates in markets where demand is steady and growing, with governments and utilities continuing to invest heavily in maintaining and upgrading ageing roads, transport networks, and utility infrastructure. At the same time, safety and regulatory requirements for infrastructure projects are becoming more stringent, increasing the need for professional traffic management and safety services. As a result, Ramudden benefits from predictable, long-term spending and a high level of recurring demand. The company’s scale, specialized equipment, and deep technical expertise enable it to deliver these services efficiently and generate strong returns.

Over the past two years, Ramudden has expanded significantly in North America through a series of acquisitions and is now accelerating its transition from a European leader to a global infrastructure safety platform. Today, around two-thirds of the company’s operations are in Europe, with the remaining third split between Canada and the United States. This footprint provides a strong base from which to continue growing across North America.

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.

Mohammed 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 tens of thousands of customers meet strict and regulatory-driven safety standards. 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.”

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.”

Triton and I Squared Capital have agreed that Triton has the option re-invest up to 20% of the equity going forward as a new commitment which Triton will evaluate during January 2026.

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.

Triton were advised by Goldman Sachs International and Deutsche Bank as sellside advisors.

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.

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. Our 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, our 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 the leading international provider of temporary traffic management (TTM) services for critical infrastructure projects. We deliver 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, we are committed to delivering the highest quality in every project and advancing our mission: to get people home safely every day.

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