ORIX Capital Partners Sells RoadSafe Traffic Systems, Inc.

By: ORIX Capital Partners via Business Wire

May 05, 2021 at 09:00 AM EDT

ORIX Capital Partners (OCP), a private equity platform of ORIX Corporation USA, announced the fund it manages has sold RoadSafe Traffic Systems, Inc. (RoadSafe) to Investcorp and Trilantic North America. Headquartered in Chicago, IL, RoadSafe is the nation's largest provider of traffic control and pavement marking services to roadway construction, state transportation, railroad and utility customers in the U.S. RoadSafe also distributes high quality, innovative and durable traffic safety products and personal protective equipment for traffic work zones. The company operates from more than 50 locations, enabling it to service all 48 continental states.

“We acquired RoadSafe in 2016 when ORIX established OCP, so this sale represents a significant milestone for our firm and a strong outcome for both OCP and RoadSafe. This deal exemplifies our thematic approach to investing. Pairing a high-conviction thesis with ample opportunities for growth allowed us to successfully execute on a buy-and-build strategy,” said OCP Senior Managing Director Chris Suan. “During our partnership the RoadSafe management team did an exceptional job enhancing the platform, and we are proud to see them become the preeminent provider of integrated traffic management solutions.”

Since 2016, RoadSafe has nearly doubled its presence throughout the United States, adding more than 20 branches and facilities both organically and through highly-strategic add-on acquisitions, all while maintaining an industry-leading safety track record.

OCP Director Mohammed Khalil added, “From the onset of our partnership, RoadSafe has been committed to providing its customers with a superior level of service and to creating a work environment that emphasizes the safety of its employees. This approach has earned RoadSafe an outstanding reputation over its long operating history and we look forward to watching the company continue its success through its next phase of growth.”

Roadsafe’s management team will continue to lead the company’s more than 1,600 employees.

Dave Meirick, CEO of RoadSafe, said, “We want to thank ORIX Capital Partners for their support and partnership over the last five years. OCP is a great investment partner that consistently supported the management team and worked alongside us to expand our service lines, geographic reach, and make strategic acquisitions. Our team is looking forward to working with our new partners in this next chapter as we look to accelerate our growth trajectory and execute on our long-term strategic plan.”

OCP Vice President William Chan and Associate Sam Lampert worked with Khalil and Suan on the deal team. Aperion Management, a New York middle market private equity firm, was also an investor alongside OCP and the company’s management, and exited its position as part of the transaction.

William Blair and Ropes & Gray LLP advised OCP and RoadSafe on the transaction. Terms of the transaction were not disclosed.

About ORIX Capital Partners

ORIX Capital Partners (OCP), the operationally-focused private equity team of ORIX Advisers, LLC and a wholly-owned subsidiary of ORIX Corporation USA (ORIX USA), manages a fund that seeks to make direct equity investments in established middle-market companies throughout North America spanning a variety of industries, including industrial services, business services, and general industrials. For more information about OCP and its capabilities, please visit www.orixcapitalpartners.com.

About Aperion Management

Aperion is a New York-based private investment firm that seeks to invest in small to midsize businesses valued between $15 million and $150 million with solid fundamentals and attractive growth prospects. Aperion seeks to partner with driven management teams to identify key business drivers and unlock opportunities for value creation and growth, and had been an investor in RoadSafe since its inception in 2007.

About RoadSafe Traffic Systems, Inc.

RoadSafe Traffic Systems, Inc. is the nation's largest provider of traffic safety and pavement marking services, and innovative safety products to heavy highway, building and specialty contractors, state transportation departments, local governments, special events organizations, U.S. railroads and utility companies.