Panoramic is pleased to announce that it has backed Somerset-headquartered traffic management provider Hooke Highways, with a multi-million-pound investment. This marks the continued expansion of Panoramic’s portfolio in Southern England and is the thirteenth investment from its second fund.
Established in 2012, Hooke Highways provides a range of traffic management solutions throughout the South of England, and is one of the foremost traffic management providers in the UK. Hooke Highways has grown significantly over the last five years through industry leading service levels, utilising quality equipment and employing and investing in highly trained staff.
Hooke Highways now operates 24/7 in fourteen counties and has six depots sited strategically across South East and South West England. Its services have expanded to encompass all aspects of traffic management including design & planning and bespoke signage production. Panoramic’s investment will provide Hooke Highways with further opportunities to develop and consolidate its leading role in the industry.
Michael Montague, managing director of Hooke Highways, commented:
“We are thrilled to be working on our expansion with the support of Panoramic to help us shape our future vision for Hooke Highways. This investment will further support our company’s development and will strengthen our position in the industry, which is set to grow following significant government and private investment into roads and utilities infrastructure.
“We value our identity as a progressive, independent business. After considering various funding options, we believe that Panoramic will deliver on an operational, cultural and structural level, as they are closely aligned with our own core business principles.”
Stephen Campbell, partner at Panoramic, commented:
“We are delighted to support Michael and the team at Hooke Highways, who have developed a reputation across the industry for reliability and providing high-quality service. We were particularly impressed with Hooke’s use of technology to increase employee safety and operational efficiency.
“Our investment decision was driven by the quality of all aspects of Hooke’s business along with attractive sector dynamics of an imbalance between supply and demand, given increased investment in road infrastructure and utilities. We look forward to supporting Michael to continue to grow the company and strengthen Hooke’s position in the traffic management industry.”
Panoramic coordinated the deal with Hooke Highways’ senior management team, consisting of Michael Montague, Managing Director; Martin Brown, Chairman and Mike Allcock, Financial Director. Panoramic were advised by Brad McAvoy and Nathan Willis at James Cowper Kreston on financial diligence and David Easdown at Knights plc on legal. Dave Merrick and Martin Duffy of D2M2 Consulting provided commercial due diligence. Management were advised by Andrew Lock and Craig Dutton at LockDutton Corporate Finance.