GCA becomes part of Houlihan Lokey


Transaction Details

June 17, 2021


Industrial Technology, Industrials and Industrial Technology

Deal Type

Mergers and Acquisitions

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GCA Advises Redflex on Its Announced Acquisition by Verra Mobility

GCA is pleased to announce our client, Redflex Holdings Limited (ASX: RDF) (“Redflex”), a provider of intelligent traffic management products and services, has been acquired by Verra Mobility Corporation (NASDAQ: VRRM) (“Verra Mobility”).

Over the past 25 years, Redflex has established itself as a world leader in developing and implementing intelligent traffic management products and services which are sold and managed in the Asia Pacific, North America, United Kingdom, Europe and Middle East regions. Redflex develops, manufactures and operates a wide range of platform-based solutions all utilizing advanced sensor and image capture technologies enabling active management of state and local motorways.

Verra Mobility serves the world's largest commercial fleets and rental car companies to manage tolling transactions and violations for millions of vehicles. As a leading provider of connected systems, Verra Mobility processes millions of transactions each year through connectivity with more than 50 individual tolling authorities and more than 400 issuing authorities. Verra Mobility also fosters the development of safe cities, partnering with law enforcement agencies, transportation departments and school districts across North America operating thousands of red-light, speed, bus lane and school bus stop arm safety cameras.

Under the scheme implementation agreement, Verra Mobility will acquire 100% of the share capital of Redflex for A$0.92 (US $0.71) per share in cash for a total acquisition price of A$146 million (US $113 million). The offer price represents a 130% premium to Redflex’s closing stock price on January 21, 2021.

The combination of Redflex and Verra Mobility will enable global delivery of leading road safety products and services and will result in increased resources, scale, enhanced technology capabilities and an expanded global reach.

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