Area Wide Protective, a portfolio company of The Riverside Company, has acquired Traffic Specialties. Riverside acquired Area Wide Protective from Blue Point Capital Partners in June 2015. The buy of Traffic Specialties is the first add-on acquisition for Area Wide Protective.
Area Wide Protective (AWP) helps direct or re-route traffic in support of construction, repair, or maintenance projects affecting public roads. The company provides on-site technicians, equipment and vehicles, in addition to permitting and design services. AWP has a variety of customers but mainly serves utilities, utility contractors, and telecommunications companies. The company has more than 1,800 employees and a fleet of nearly 900 trucks and works out of 50 locations in 17 states throughout the Midwest, East, and Southeast. AWP is led by its President and CEO John Sypek. The company is headquartered near Akron in Kent, OH (www.awptrafficsafety.com).
Traffic Specialties (TSI) provides similar services as AWP and serves similar customers including utilities, utility contractors and the roadway construction, repair and maintenance market. Traffic Specialties is headquartered in the Atlanta suburb of Stone Mountain, GA (www.georgiatrafficcontrol.com).
“TSI is an excellent complement to AWP,” said Riverside Partner Chris Jones. “Both companies are proven leaders in the market, and customers will benefit from the resources and scale that will result from combining the two entities.” Working with Mr. Jones on the transaction for Riverside were Vice President Ryan Richards, Associate Jordan Suydam and Operating Partner Tom Anderson.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $300 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 380 transactions. The firm’s international portfolio includes more than 70 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
Kirkland & Ellis (www.kirkland.com) was the legal advisor to Riverside on the transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 11-3-15