Keltic Traffic Management Limited acquired by Equistone-backed BUKO Group

Transaction

Sell-side

Undisclosed

Role

Adviser to Keltic Traffic Management Limited on its sale to Equistone-backed BUKO Group

Sector

Industrial & Chemicals

Region

We have advised Keltic Traffic Management (Keltic), a specialist in complex London-based operations, on its sale to Equistone-backed BUKO Group (BUKO), a leading European provider of temporary traffic management.

Founded in 2016 by Damien and Karla Kelly, Keltic provides a high-quality, reliable and flexible service to a diverse customer base, which includes some of the largest civils, utility and telecommunications companies in the UK.

Headquartered in Barendrecht, the Netherlands, BUKO employs over 1,000 people across four countries and successfully oversees thousands of projects annually. Founded in 1991, the company specialises in temporary traffic management solutions. With its comprehensive portfolio of services – from design, planning, approval, deployment and collection, as well as onsite management of road signage, safety equipment required for roadworks and an innovative range of digital traffic management solutions – BUKO primarily serves contractors and public authorities, active in utility-related and urban/rural roadworks.

Since funds advised by Equistone acquired a majority stake in BUKO in February 2023, the company has pursued a growth strategy focused on building its presence in its home market and targeted expansion into other European countries supported by strong market dynamics. This acquisition represents a key milestone for BUKO as it aims to become the market leader in the UK.

We are delighted with the sale of the business to BUKO and believe it is the perfect home for Keltic to enable continued growth within our core markets. Zack and his team at Clearwater have supported us brilliantly over the last few months and their deep sector expertise within traffic management and wider utility services has proved invaluable.

The partnership with BUKO will provide additional support and capabilities to further enhance the service we provide to our customers, and we look forward to this next phase in Keltic’s development. We believe this step will also provide attractive opportunities to our employees to further develop within a strong, international organisation.
Damien Kelly, Founder and Managing Director, Keltic

I have been impressed by the entrepreneurship of Damien and Karla Kelly, and by their customer-centric and results-oriented way of working. Their approach perfectly matches that of BUKO: professional, flexible and with a focus on customers. With this strategic acquisition we further strengthen our position in the Greater London area.
Robert Emmerich, CEO, BUKO

It has been a pleasure advising Damien and Karla on the sale to BUKO. They have built an exceptional business in recent years, strategically targeting some of the most attractive utility driven customers in London and surrounding areas. The transaction continues our strong momentum within the infrastructure services market, with high levels of continued buyer appetite given continuously strengthening underlying market dynamics.
Zack Goddard, Partner, Clearwater

Keltic has proven to be a highly successful London-based traffic management specialist and we are excited to partner with this ambitious company and team. This is the latest step in BUKO’s strategy of becoming the leading temporary traffic management provider across the UK and Europe.
Hubert van Wolfswinkel, Partner, Equistone