Arlington Capital Partners has acquired TRP Infrastructure Services, a provider of roadway marking and traffic control services.
TRP’s services include the installation of striping, reflective markers, and rumble strips. The company’s customers include state and local governments across Texas and other southeastern states including Florida, Georgia, North Carolina, South Carolina, Alabama, and Arkansas.
Since its founding in 2010 by CEO Rod Pekurney and EVP Nathan Aust, Fort Worth-based TRP (The Right People) has serviced more than 5,150 highway infrastructure projects, including urban interchanges, rural roadways, tollways, bridges, and city and county thoroughfares; stripped more than 573 million feet of roads; and installed 6.5 million raised pavement markers.
TRP’s senior management has invested in this transaction in partnership with Arlington Capital and they will continue to lead the company.
“We believe Arlington Capital is the ideal partner for TRP as we enter our next phase of growth, and the entire management team looks forward to leveraging Arlington’s deep expertise and relationships in the state and local government sector,” said Mr. Pekurney. “Together, we plan to continue our geographic and service offering expansion, while maintaining our high-quality customer service and employee culture.”
“The company’s market-leading capabilities, skilled employee base, and strong customer relationships make TRP an ideal platform for future organic and inorganic growth,” said Bilal Noor, a vice president at Arlington Capital. “Furthermore, we believe TRP will play a critical role in the national mandate to improve and upgrade the country’s roadway infrastructure.”
“TRP has established itself as a best-in-class national provider that can leverage its scale, geographic density and professional organization to offer critical roadway services to its diverse customer base,” said Michael Lustbader, a managing partner at Arlington Capital. “We look forward to partnering with co-founders Rod Pekurney and Nathan Aust and the rest of the team to further build upon the company’s well-established reputation in the industry as a provider of high-quality service and an acquirer of choice.
Chevy Chase, Maryland-based Arlington Capital was founded in 1999 and has completed over 90 acquisitions since its inception. Sectors of interest include government-regulated industries and adjacent markets including aerospace & defense; government services; and technology, healthcare, and business services.
“Arlington Capital is excited to extend the company’s impressive track record of growth alongside several macroeconomic tailwinds including the upcoming infrastructure bill in Congress and the impact of autonomous vehicles on roadway markings,” concluded Mr. Lustbader.
Arlington Capital is currently investing out of Arlington Capital Partners V LP, a $1.7 billion fund that closed in June 2019. In February 2021, Goldman Sachs Asset Management (GSAM) made a non-voting minority equity investment in Arlington Capital.
© 2021 Private Equity Professional | July 15, 2021
