Soundcore Capital Partners has closed the sale of InfraStripe, a regional roadway safety contractor, to Frontline Road Safety, the largest provider of pavement marking services in the United States and a portfolio company of Bain Capital, which acquired the business just last month from The Sterling Group.
InfraStripe’s services include paint- and thermoplastic-striping for highways and runways, traffic control, signage installation, guardrail installation, and work zone services. Customers of the company include numerous state departments of transportation, airports, municipalities, and counties. InfraStripe operates through 13 service centers and has completed work in 30 southeastern and central states and metropolitan areas. The company was founded in 2018 and is headquartered in Charlotte, North Carolina.
Soundcore acquired InfraStripe in October 2018 and closed eight add-on acquisitions during its ownership term. It also recruited several new members to its management team, including a new CEO, CFO, and COO. The eight add-on acquisitions are California-based BC Traffic Specialist, Nevada-based Nevada Barricade & Sign Co., Florida-based AKCA, Virginia-based American Road Markings, Nevada-based Silver State Barricade & Sign, Oregon-based Hicks Striping and Curbing, Utah-based Interstate Companies, and Missouri-based Traffic Control Company.
“We’re proud of the progress we’ve made since inception and are grateful to Soundcore for being a great partner in helping us scale into a leader in the sector. I’m thankful for the opportunity that Soundcore provided and excited for the future,” said Billy Miller, the CEO of InfraStripe.
Frontline Road Safety offers line striping for highways and airports, thermoplastic and epoxy pavement markings, and other traffic control services and products. The company’s customers include government agencies, transportation departments, private corporations, and infrastructure contractors.
Frontline was formed in August 2020 by The Sterling Group as a road safety platform and under its ownership completed a total of 19 add-on acquisitions which expanded its geographic reach and service capabilities.
Today, Denver-headquartered Frontline operates more than 50 locations across the United States and employs over 1,750 people. According to the company, it is the largest provider of pavement marking and ancillary services in the country.
“Since the creation of InfraStripe in 2018, Soundcore worked in partnership with management to build a market leading company providing critically important roadway safety solutions,” said Jarrett Turner, the founder and managing partner at Soundcore. “This marks the sixth portfolio company exit for Soundcore in the last 21 months.”
New York City-headquartered Soundcore specializes in North America-based buy-and-build investments in the lower middle market. Target companies typically have EBITDA from $2 million to $14 million and are active in business and outsourced services, industrial services, specialty manufacturing, and value-added distribution sectors. Soundcore was founded in 2015 and has completed 96 acquisitions across 11 platforms.
“InfraStripe is a highly complementary addition to Frontline, expanding our capabilities in traffic control and safety signage while strengthening our ability to serve customers in critical regional markets,” said Mitch Williams, the CEO of Frontline. “This partnership supports our strategy to build the nation’s leading road safety platform—with the scale, expertise, and resources to meet growing infrastructure needs. We’re excited to welcome the InfraStripe team to Frontline and to continue delivering best-in-class solutions that make roadways safer across the country. We are thrilled to partner with InfraStripe’s local leaders and teams.”
Bain Capital was founded in 1984 and invests in companies across the healthcare, consumer/retail, financial and business services, industrials, and technology, media, and telecommunications sectors. The firm operates across multiple asset classes, including credit, public equity, venture capital, and real estate, and manages total assets of $185 billion. Bain Capital has approximately 320 investment professionals and maintains offices globally.
Stephens was the financial advisor to InfraStripe on this transaction.
© 2025 Private Equity Professional | April 16, 2025
