Dominus Gets the Green Light on Pelco

Dominus Capital has completed an investment in Pelco Solutions, a manufacturer of traffic signal hardware and pedestrian safety products, acquiring the business from River Associates, which had acquired the business in March 2021.

Pelco makes the physical hardware and electronic equipment that cities and transportation agencies use to run intersections and protect people crossing the street. The company’s products include the poles, mast arms, and mounting brackets that hold up traffic signals and street lights; the pedestrian push buttons and audible crosswalk signals that let people request a walk light; and radar-based warning signs that flash to slow drivers down.

Customers of Pelco include state departments of transportation, municipalities, utilities, and the contractors that build and maintain roadway infrastructure. Pelco’s products are deployed across all 50 states, Canada, and other markets.

Pelco goes to market under five company-owned brands: Pelco Products supplies traffic signal hardware, utility products, and decorative outdoor lighting; TraffiCalm (acquired in 2022) is an Idaho-based maker of radar speed signs and other driver-warning systems; Novax (acquired in 2023) is a Canada-based provider of traffic management and pedestrian signaling systems; Component Products (acquired in 2024) is an Illinois-based supplier of poles, bases, and mounting hardware; and PedSafety (acquired in 2025) is an Idaho-based maker of pedestrian push buttons and crosswalk safety equipment.

Pelco was founded in 1985 by brothers Phil Parduhn and Steve Parduhn and is based in Edmond, Oklahoma, roughly 15 miles north of Oklahoma City. Paul Koenig, chief executive officer, leads the business and will remain a significant shareholder in the company in partnership with Dominus.

“The entire Pelco management team is incredibly proud of what we have built, but in many ways, we feel like we are just getting started,” said Mr. Koenig. “Our mission has always been to lead the traffic and pedestrian safety market through innovative technology, high-quality products, and exceptional service. Throughout our process, it was clear that Dominus shared our culture, values, and vision for Pelco’s growth, which made them the right partner for our next chapter. I also want to thank River Associates for their partnership over the past several years. Together with Dominus, we look forward to continuing to create safer streets and more efficient traffic systems for the communities we serve.”

Demand for traffic and pedestrian safety hardware is rising alongside public spending on roadway infrastructure and a national push to reverse a decade of rising pedestrian deaths, which reached roughly 7,300 in 2023. The US intelligent traffic management market was valued at about $3.4 billion in 2024 and is projected to reach roughly $11.4 billion by 2033, a compound annual growth rate near 15 percent, according to Grand View Research, while the broader road safety market is expanding at a rate above 16 percent, according to Market.us. Hardware accounts for the majority of spending, at roughly 55 percent of demand in 2024. Federal infrastructure funding, aging signal equipment due for replacement, and the adoption of connected and radar-based safety systems are the primary drivers, in a market served by many regional manufacturers where products are often specified individually into agency project designs.

“A core element of our investment strategy is partnering with market-leading businesses and supporting management’s execution of both organic and inorganic growth initiatives,” said Ashish Rughwani, a founding partner at Dominus Capital. “Pelco is a leader across the traffic, utility, and pedestrian safety markets, with a differentiated portfolio of products that are specified into project designs by agencies across the country, and a proven ability to grow through acquisition, having successfully integrated four complementary businesses in recent years. We are thrilled to partner with Paul and the entire Pelco team to support the company’s continued organic growth and active acquisition strategy.”

Founded in 2008 by Gary Binning, Robert Haswell, and Mr. Rughwani, New York City-based Dominus Capital makes control equity investments in North American-based middle-market companies that have EBITDA of at least $10 million. Sectors of interest include business services — outsourced services, specialty marketing, value-added distribution — and diversified industrials — aerospace and defense, automotive, building products, manufactured products, packaging, and specialty chemicals.

In April 2026, Dominus closed its fourth fund, Dominus Capital Partners IV LP, with more than $640 million in capital. The new fund exceeded its $500 million target and closed at its hard cap.

River Associates invests in United States and Canada-based companies with revenues of $15 million to $100 million and EBITDA of $3 million to $12 million. Sectors of interest include manufacturing, high-margin distribution, industrial services, and business services. River Associates was founded in 1989 and is headquartered in Chattanooga, Tennessee.

Kroll Securities was the financial advisor to Pelco on this transaction.