RoadSafe Traffic Systems, one of the nation’s largest providers of traffic control and pavement marking services, has acquired Beth’s Barricades. ORIX Capital Partners (ORIX CP) acquired RoadSafe in February 2016 from Falcon Investment Advisors and Aperion Management. Aperion continues to have a minority equity interest in the company.
Beth’s Barricades provides contractors, municipalities and developers throughout Pennsylvania and Maryland with traffic control services and products which include traffic signals, message and arrow boards, speed trailers, truck-mounted attenuators and steel barriers along with smaller items such as channelizers and signs. The company, led by President Beth Nury, was founded in 2005 and is based north of Pittsburgh in Gibsonia, PA. The company has additional facilities in York and Watsontown, PA (www.bethsbarricades.com).
RoadSafe Traffic Systems is the largest and only national provider of pavement marking, sign installation, and traffic control services and equipment to roadway construction, and railroad and utility industries in the US. The company operates from 50-plus locations, enabling it to serve projects of any size in over 40 states. RoadSafe is led by CEO David Meirick and is headquartered in Chicago (www.roadsafetraffic.com).
The acquisition of Beth’s Barricades will enable RoadSafe to increase its presence in Pennsylvania. The management team and workforce of the company are expected to join RoadSafe which will now have nearly 1,900 employees.
This is the second add-on acquisition for RoadSafe since being acquired by ORIX CP. In October 2016, RoadSafe acquired Protection Services Inc. (PSI) which offers traffic control and pavement marking services to private contractors, federal agencies, state transportation departments, governmental entities and utilities. The company is based just outside of Harrisburg in Lemoyne, PA (www.protectionservices.com).
“The acquisition of Beth’s Barricades, in addition to the acquisition of PSI, presents a unique opportunity for RoadSafe to expand and leverage its footprint in the Northeast, create economies of scale and open new business opportunities for its services,” said Christopher Suan, Senior Managing Director for ORIX CP. “Due to strong federal and state funding, Pennsylvania is one of the leading states in infrastructure spending. RoadSafe is well-positioned to work with its partners in the region to improve infrastructure.”
ORIX CP (www.orixcapitalpartners.com) invests from $50 million to $150 million of equity capital per transaction in North America based middle-market companies. The group will invest across a range of industries and special situations. Areas of specific interest include business services, retail, consumer, industrials, telecommunications and technology. ORIX CP is led by President and CEO Yoshiteru “Terry” Suzuki, who previously served as Co-CEO of Cerberus Japan from June 2002 to March 2015, along with Mr. Suan.
Aperion Management, which has been an investor in RoadSafe since its inception in 2007, invests in small to midsize businesses valued between $15 million and $150 million. The firm is based in New York (no website found).
© 2017 Private Equity Professional | July 27, 2017