Bluebox Corporate Finance is delighted to announce the sale of The Development Initiative Limited (“TDI”), one of the world’s leading providers of humanitarian and commercial landmine clearance services, to US based private equity fund Alvarez & Marsal Capital Partners (“A&M Capital”). Pricing and other deal terms are not disclosed.
TDI provides landmine clearance, unexploded ordnance disposal, training and remote logistics solutions in inaccessible and often hostile locations, primarily in Africa and the Middle East. TDI plays a key role in assisting the United Nations with its vision of a world free of the threat of landmines and unexploded ordnance. The nature of conflicts have evolved in recent years which has resulted in more landmines being laid but also, stockpiles, Unexploded Ordnance (UXO) and Improvised Explosive Devices (IED) being built up. This has resulted in more demand for the services being provided by TDI including education and training as well as Counter-IED efforts.
Led by Hugh Morris and Stephen Castree, TDI’s experienced management team have delivered consistent growth and are forecast to generate revenues in excess of $40m this year. The senior management team will all remain with the business and continue to drive it forward under new ownership.
Hugh Morris, Managing Director of TDI commented “It has been a real privilege working with the team at Bluebox over this last year or so. Bluebox’s attention to detail ensured that we were well prepared for when the business was taken to market and the sale process itself was managed expertly. Starting the process, I had no idea exactly what this would entail and the volume of work that has been produced by everyone and the result reached today is nothing short of brilliant.”
Jonathan Rich, Associate Director at Bluebox commented “This deal is another great example of the added-value generated by Blue Diamond, our award-winning pre-sale planning programme as well as our ability to identify and transact with investors from around the world. We have worked with the senior management team of TDI since early 2015, to ensure that the business was best prepared for when we approached the market. We are delighted for all involved and we wish the management team continued success under new ownership. This deal represents the fifth successful exit for Bluebox in the last few months and it is all the more rewarding that TDI represents another graduate from our pre-sale planning programme.”