ORIX Capital Partners Sells RoadSafe Traffic Systems, Inc.
05 Maggio 2021 - 3:00PM
Business Wire
ORIX Capital Partners (OCP), a private equity platform of ORIX
Corporation USA, announced the fund it manages has sold RoadSafe
Traffic Systems, Inc. (RoadSafe) to Investcorp and Trilantic North
America. Headquartered in Chicago, IL, RoadSafe is the nation's
largest provider of traffic control and pavement marking services
to roadway construction, state transportation, railroad and utility
customers in the U.S. RoadSafe also distributes high quality,
innovative and durable traffic safety products and personal
protective equipment for traffic work zones. The company operates
from more than 50 locations, enabling it to service all 48
continental states.
“We acquired RoadSafe in 2016 when ORIX established OCP, so this
sale represents a significant milestone for our firm and a strong
outcome for both OCP and RoadSafe. This deal exemplifies our
thematic approach to investing. Pairing a high-conviction thesis
with ample opportunities for growth allowed us to successfully
execute on a buy-and-build strategy,” said OCP Senior Managing
Director Chris Suan. “During our partnership the RoadSafe
management team did an exceptional job enhancing the platform, and
we are proud to see them become the preeminent provider of
integrated traffic management solutions.”
Since 2016, RoadSafe has nearly doubled its presence throughout
the United States, adding more than 20 branches and facilities both
organically and through highly-strategic add-on acquisitions, all
while maintaining an industry-leading safety track record.
OCP Director Mohammed Khalil added, “From the onset of our
partnership, RoadSafe has been committed to providing its customers
with a superior level of service and to creating a work environment
that emphasizes the safety of its employees. This approach has
earned RoadSafe an outstanding reputation over its long operating
history and we look forward to watching the company continue its
success through its next phase of growth.”
Roadsafe’s management team will continue to lead the company’s
more than 1,600 employees.
Dave Meirick, CEO of RoadSafe, said, “We want to thank ORIX
Capital Partners for their support and partnership over the last
five years. OCP is a great investment partner that consistently
supported the management team and worked alongside us to expand our
service lines, geographic reach, and make strategic acquisitions.
Our team is looking forward to working with our new partners in
this next chapter as we look to accelerate our growth trajectory
and execute on our long-term strategic plan.”
OCP Vice President William Chan and Associate Sam Lampert worked
with Khalil and Suan on the deal team. Aperion Management, a New
York middle market private equity firm, was also an investor
alongside OCP and the company’s management, and exited its position
as part of the transaction.
William Blair and Ropes & Gray LLP advised OCP and RoadSafe
on the transaction. Terms of the transaction were not
disclosed.
About ORIX Capital Partners
ORIX Capital Partners (OCP), the operationally-focused private
equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of
ORIX Corporation USA (ORIX USA), manages a fund that seeks to make
direct equity investments in established middle-market companies
throughout North America spanning a variety of industries,
including industrial services, business services, and general
industrials. For more information about OCP and its capabilities,
please visit www.orixcapitalpartners.com.
About Aperion Management
Aperion is a New York-based private investment firm that seeks
to invest in small to midsize businesses valued between $15 million
and $150 million with solid fundamentals and attractive growth
prospects. Aperion seeks to partner with driven management teams to
identify key business drivers and unlock opportunities for value
creation and growth, and had been an investor in RoadSafe since its
inception in 2007.
About RoadSafe Traffic Systems, Inc.
RoadSafe Traffic Systems, Inc. is the nation's largest provider
of traffic safety and pavement marking services, and innovative
safety products to heavy highway, building and specialty
contractors, state transportation departments, local governments,
special events organizations, U.S. railroads and utility
companies.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505005152/en/
ORIX Corporation USA: Rohini Pragasam, Head of
Communications & Marketing Rohini.Pragasam@orix.com
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