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Stirling Square, Diamond Castle acquire Public Safety Equipment21/02/2007. Source: AltAssets. 
 Stirling Square Capital Partners, Diamond Castle Holdings and Seton House Acquisition have signed a definitive agreement regarding the sale by Seton House of the international highway safety solutions business Public Safety Equipment to funds managed by SSCP and DCH.
Financial terms of the transaction were not disclosed.
PSE designs, assembles and markets branded electronic systems and solutions to support police forces and other emergency services, including traffic enforcement, in-car video, speed measurement and emergency lighting products. The company employs nearly 800 people and operates from four principal locations in the US and the UK, with additional sales and marketing operations in Europe and Australasia.
The management team of PSE, led by David Smith, will invest alongside the equity sponsors.
SSCP manages a $280m fund whose cornerstone investor is Citigroup. SSCP and the fund it advises seek to invest in European transactions with enterprise values of between €50m and €500m.
DCH is a New York-based private equity investment firm that invests across a range of industries, with a particular focus on the energy and power, financial services, media and communications, and healthcare sectors. DCH has $1.85bn of committed capital under management.
Martin Calderbank, partner at SSCP, said, 'This acquisition is in line with our stated objective to invest in companies with strong management and a proven record of success. We see great development potential for the company and look forward to working closely with the management team to take PSE into its next phase of growth.'
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