Traffic Solutions, a portfolio company of Sterling Partners, has acquired Altus Traffic Management, its first add-on acquisition since being acquired by Sterling last month.
Altus Traffic Management is a provider of traffic control services, equipment rental, permitting and work zone safety training to more than 575 customers including departments of transportation, state and local governments, roadway construction contractors and subcontractors, railroads and utilities. The company, led by CEO Jeff Holcomb, is headquartered in Dallas and has 375 employees in nine locations across Texas, Washington and Colorado (www.altustraffic.com).
Traffic Solutions rents, sells, and services a range of traffic control products including barricades, message and arrow boards, crash cushions, and solar-powered message boards. The company also provides an array of services including construction zone traffic control, permit process management, overhead sign installation, striping services, and lane, road, and freeway closures.
Customers of Traffic Solutions include public utilities like Sacramento Municipal Utility District, Honolulu Rail, Hawaiian Electric and PG&E; federal, state, county, and city agencies; private utilities; large road and bridge building firms; general contractors; and special event producers. The company has more than 2,000 customers and 750 employees at 18 locations in California, Hawaii, and Nevada. Traffic Solutions is led by its president Don Nicholas and is headquartered in Irvine, CA (www.statewidesafety.com).
Traffic Solutions was formerly known as Traffic Control and Safety Corporation, it filed Chapter 11 Bankruptcy in April 2012, and was previously a portfolio company of Marwit Capital and Fifth Street Finance. Sterling Partners acquired Traffic Solutions in May 2018.
“When we partnered with Traffic Solutions, the plan was to look for and leverage opportunities for accelerated growth. Bringing Altus into the fold allows us to quickly scale Traffic Solutions’ platform to better serve customers across a wider geographic footprint,” said Mike Drai, Managing Director at Sterling Partners. “We will continue to support companies that have clear growth opportunities and offer innovative and efficient solutions to solve our nation’s infrastructure challenges.”
Altus’ strategy to create value at Traffic Solutions includes entering new geographies, diversifying its service offerings, and expand in existing end markets. “We are thrilled to partner with the Altus team. As we look to grow, Altus is a great company and a great fit to help us expand both our services and the markets we serve,” said Don Nicholas, President of Traffic Solutions.
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including healthcare and business services. The firm was founded in 1983 and has offices in Chicago and Baltimore (www.sterlingpartners.com).
© 2018 Private Equity Professional | June 28, 2018
