A&O advises Bridgepoint and PTV Group on the financing of their investment in Econolite
13 April 2022
Allen & Overy has advised PTV Group (“PTV”), a Bridgepoint portfolio group, on the financing aspects of the combination of PTV and Econolite.
Founded in 1933, Econolite is the leading North American provider of intelligent traffic management solutions, with its traffic control software used across the US, Mexico and Canada. This investment will create a world-leading and fully-integrated provider of mobility solutions, as Econolite’s product portfolio and market share in North America complements PTV’s software solutions, which lead in the European market.
A&O finance partner, Robin Harvey, who led on the transaction said: “This significant deal will see two strategically aligned companies come together to create a true global leader in the space of smart and sustainable mobility solutions.”
This transaction continues A&O’s ongoing relationship with Bridgepoint and PTV, with a cross-border team also working on the M&A aspects of the deal, and A&O’s leveraged finance and M&A teams having previously advised Bridgepoint on its acquisition of a majority stake in PTV in October 2021.
The team was led by partner Robin Harvey with senior associate Nihaal Khanna and associate Ivan Orsolini in London; partner Walter Uebelhoer, senior associate Jörg Weber and associates Sebastian Hanke and Georg Lütkenhaus in Munich; partner Heike Weber in Frankfurt and partner Gordon Mak and associates Dimitar Grozdanov and John Hibbard in New York.