Prime represents shareholder of Platinum Traffic Services

Prime Capital is delighted to have acted for the shareholders of Platinum Traffic Services in their 100% sale to AVADA Group Limited (ASX:AVD).

Platinum Traffic delivers turn-key traffic management solutions to public and private sector clients in New South Wales and Queensland, encompassing traffic management, planning & permits and equipment hire. Founded in 2011 by Sean McGinty, Nigel Tarr and Glen Sillick, Platinum Traffic today spans five depots and comprises c.100 vehicles in total. Glen Sillick will remain with AVADA Group as Platinum Traffic’s General Manager.

AVADA Group is Australia’s largest listed integrated traffic management provider with an extensive network of 26 depots, more than 600 vehicles and 1,200 employees. AVADA was formed through the acquisition of five independent traffic management companies and listed on the Australian Securities Exchange in December 2021.

Prime’s deal team was led by David Gulson (Director, Capital) and supported by Dan Taylor. We wish to congratulate our client on a successful transaction, and wish the broader AVADA Group a fruitful journey on the ASX.

Details of the transaction can be found in the attached announcement here.

The information in this article contains general advice and is provided by Primestock Wealth Management Pty Ltd (Primestock Wealth) AFSL No. 240277. This advice has been prepared without taking your personal objectives, financial situation or needs into account. Before acting on this general advice, you should consider the appropriateness of it having regard to your personal objectives, financial situation and needs.

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