I Squared Capital to Acquire Ramudden Global, Accelerating Infrastructure Safety Expansion Across Europe and North America
Squared Capital, a leading global infrastructure investment manager, has entered into an agreement through its flagship fund to acquire Ramudden Global from funds advised by Triton Partners. The transaction underscores I Squared’s continued focus on investing in essential, regulated infrastructure businesses. Financial terms of the deal were not disclosed.Ramudden Global is a leading international provider of traffic management and infrastructure safety services, supporting the maintenance and modernization of critical transportation and utility networks. The company operates more than 190 depots across 13 countries in Europe and North America, delivering mission-critical services that enhance public safety, regulatory compliance, and infrastructure reliability.
The acquisition is expected to support Ramudden’s next phase of growth, particularly in North America and Europe, as governments and utilities continue to increase spending on aging infrastructure. Demand for professional traffic management and safety services is being driven by heightened regulatory standards, growing infrastructure investment, and the need to ensure uninterrupted service across road, transport, and utility networks.
Founded by Triton alongside its founders and management team, Ramudden Global was created through a series of strategic acquisitions beginning in 2017. These included Ramudden in Sweden, AVS in Germany, Chevron in the UK, and Fero in Belgium and the Netherlands. The business was unified into a single group in 2020 and expanded into North America with the acquisition of Canada-based RSG International in 2024 and U.S.-based Curtin in 2025. The company’s combined revenues are expected to exceed €1 billion ($1.2 billion) in January 2026.
Currently, approximately two-thirds of Ramudden’s operations are based in Europe, with the remaining third split between Canada and the United States. The company employs more than 5,000 people and serves over 10,000 customers across its markets.
Mohamed El Gazzar, Senior Partner at I Squared Capital, said Ramudden is a market leader providing essential services that benefit from predictable, long-term demand. He noted that the company’s scale, specialized equipment, and technical expertise position it well to capitalize on sustained infrastructure investment trends.
Peder Prahl, Founder and CEO of Triton, said the firm is proud to have supported Ramudden’s transformation into a global infrastructure safety platform, thanking the management team and employees for their contributions during Triton’s ownership.
Morten Finslo, CEO of Ramudden Global, said the partnership with I Squared Capital will enable the company to expand its geographic footprint, invest in innovation and digital solutions, and further strengthen its ability to deliver safe and reliable traffic management services.
The transaction is expected to close in the first half of 2026, subject to customary regulatory approvals and closing conditions.
