Kelso Place Asset Management, a small UK private equity firm founded by two former Goldman Sachs staffers, has bought a business whose technology is used in police radios across Europe.

The firm, which will be known as Sepura, was part of SDS, a company that specialised in developing wireless communication for emegency services until it was put into administration one month ago. Kelso Place, founded by ex-Goldman Sachs executives John Drinkwater and Sion Kearsey among others, saw an opportunity afforded by a business that was almost complete, except for financial backing.