Safety Marking (SMC), a pavement marking services provider backed by Highview Capital, has acquired Straight Line Industries.
Straight Line Industries provides subcontracted roadway striping and pavement marking services to government agencies and general contractors across New York State. Its services include line striping for highways and local roads, traffic symbol application, and temporary traffic markings, all of which are used during new road construction or resurfacing projects. Straight Line was founded in 1991 by CEO Rick Fremont and is headquartered just north of Albany in Cohoes, New York. Post-closing, Mr. Fremont will remain with the combined company and retain an equity ownership stake.
“Joining forces with Safety Marking represents an exciting new chapter for us. SMC shares our core values of high quality work and excellent customer service, and we look forward to expanding our capabilities under our partnership,” said Mr. Fremont.
Safety Marking’s products and services include rumble strips, recessed pavement markings, hydroblasting (to remove old markings), airport markings, thermoplastic and epoxy pavement markings, and parking lot striping. Many of the company’s customers include states, municipalities, airports, and private businesses including the Port Authority of New Jersey, Connecticut Department of Transportation, New York Department of Transportation, and Westchester County Department of Public Works, among many others.
Safety Marking’s acquisition of Straight Line expands its presence into Upstate and Western New York, reinforcing its positioning across the Northeastern U.S. With the close of the transaction, the company now has facilities in Connecticut, Rhode Island, and New York. According to Safety Marking, it is one of the nation’s largest independent pavement marking providers.
Safety Marking was founded in 1973 by CEO Mark Kelly and is headquartered in Bridgeport, Connecticut. The company was acquired by Highview Capital in August 2023.
“Rick and Straight Line have built a longstanding track record of delivering exceptional service to the state of New York and we’re excited to support their continued growth,” said P.J. Gilbert, a managing director at Highview.
Safety Marking’s acquisition of Straight Line reflects a broader consolidation trend in the $240 billion U.S. infrastructure market, where regional operators are scaling to meet the surge in state and municipal transportation spending. According to the American Road & Transportation Builders Association (ARTBA), public highway and street construction spending is projected to reach $113.8 billion in 2025, up from $98.3 billion in 2023. This growth is fueled in part by the Infrastructure Investment and Jobs Act (IIJA), which provides $350 billion over five years for highways and bridges. The resulting demand for road resurfacing, lane striping, and safety compliance has intensified M&A activity among pavement marking firms, as operators seek scale, geographic reach, and operational efficiencies to fulfill increasingly complex public contracts.
Highview Capital, headquartered in Los Angeles, invests from $20 million to $125 million of equity in companies with revenues of $50 million to $500 million and EBITDA of $5 million to $50 million. Highview invests in many sectors and is effectively industry agnostic. The firm sources its capital from a $500 million evergreen fund and is backed by Karlin Asset Management, a Los Angeles-based investment company.
© 2025 Private Equity Professional | May 13, 2025
