Altus Group divests specialist engineering business, Modus Traffic and Transport

Leading Traffic Management company, Altus Group Holdings (Altus), has announced the divestment of its Traffic Engineering business, Modus Traffic and Transport.  The move celebrates Modus's growth and potential, paving the way for its next phase of innovation and leadership in the industry.

The deal comes following Altus’ decision to rebrand it’s in-house engineering business to Modus and the more recent strategic acquisition of two traffic management businesses over the last 12 months. Group CEO Ben Marsonet said “the decision to divest Modus comes at a time when there is a lot of activity in our core traffic management business, including multiple acquisitions and record capital investments in fleet and new technologies. We felt that Modus was at a point in its journey where it was better suited to a more dynamic ownership structure led by the people who built the business.” 

Modus will be acquired by an entity owned by Negin Vaez (Principal Director at Modus) via a management buyout, in a deal that both the Altus and Modus teams believe is in the best long term interests for Modus and its goals. As Modus embarks on this new chapter, Altus extends its full support and best wishes for the journey ahead.

Modus Principal Director Negin Vaez said “Altus has been an incredible part of my life for the last 6 years and I am humbled to have had the opportunity to acquire Modus at this point in our journey. The team at Altus and Modus have done a fantastic job of building this brand and business over the last few years and we are incredibly excited for what the future holds.” 

Altus is confident that with this transition, Modus will continue to innovate and deliver exceptional value to its customers and partners. Altus and Modus will maintain a close working relationship into the future to ensure our respective customers continue to benefit from an integrated engineering and execution offering where needed. 

To learn more about Modus please visit: https://modusengineering.com.au/