RoadSafe Traffic Systems Acquires Protection Services Inc.
November 17 2016 - 11:09AM
Business Wire
The two companies combine to offer a nationwide
network of traffic control services
RoadSafe Traffic Systems, a portfolio company of ORIX Capital
Partners LLC and the nation’s largest provider of traffic control
and pavement marking services, announced today its acquisition of
Protection Services Inc. (PSI). Based in Harrisburg, Pennsylvania,
PSI also offers traffic control and pavement marking services—as
well as product sales and rentals—to private contractors, federal
agencies, state transportation departments, governmental entities
and various utilities.
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The acquisition will enable RoadSafe to expand its footprint of
more than 50 branches and lead to a nationwide network that can
serve projects of any size in over 40 states. PSI’s team of nearly
300 employees is expected to join the RoadSafe family, which will
now number nearly 1,500 in total employment.
“It was an opportune time for our two companies to join forces
as we expand service offerings and add resources to support
growth,” said David Meirick, President and CEO of RoadSafe. “PSI is
a respected company in the industry, and their level of
service—combined with their expertise—made them a great fit for
RoadSafe.”
Funding for the PSI acquisition was provided by ORIX USA
Corporation, which partnered with Aperion Management to acquire
RoadSafe in February 2016. ORIX Capital Partners LLC, formerly
known as IX Capital Partners, is a subsidiary of ORIX USA and
manages RoadSafe as a portfolio company.
“We continue to seek strategic add-ons for RoadSafe which will
complement the strong organic growth the company has experienced as
a result of the incredible value, reliability and safety of its
services,” said Christopher Suan, Managing Director for ORIX
Capital Partners LLC.
ORIX USA Corporation
ORIX USA provides innovative capital solutions that clients need
to propel their business to the next level. Based in Dallas, ORIX
USA has a team of more than 600 employees spanning nearly 20
offices across the U.S. and Brazil. ORIX USA and its family of
companies offer investment capital and asset management services to
clients in the corporate, real estate, municipal and energy
sectors, while holding $6 billion of assets and managing an
additional $29 billion, approximately. Its parent company, ORIX
Corporation, is a Tokyo-based, publicly owned international
financial services company with operations in 37 countries and
regions worldwide. ORIX Corporation is listed on the Tokyo (8591)
and New York Stock Exchanges (IX). For more information on ORIX
USA, visit www.orix.com.
ORIX Capital Partners LLC
ORIX Capital Partners LLC, formerly known as IX Capital
Partners, is a fully owned subsidiary of ORIX USA Corporation. It
sponsors direct equity investments to support growth and
performance among established middle-market companies throughout
North America, spanning a variety of industries including business
services, retail, consumer, industrials, telecommunications and
technology. ORIX Capital Partners LLC is led by President and CEO
Yoshiteru “Terry” Suzuki, who previously served as Co-CEO of
Cerberus Japan, along with Managing Director Christopher Suan, who
joined ORIX Capital Partners from his position as ORIX USA’s Chief
Development Officer. Before joining ORIX USA, Suan was a Managing
Director at KKR.
RoadSafe Traffic Systems Inc.
RoadSafe Traffic Systems Inc. is the nation’s largest provider
of traffic safety and pavement marking services and products with
branch offices located throughout the United States.
www.roadsafetraffic.com
Protection Services Inc.
Protection Services Inc. (PSI) provides a complete line of
sophisticated traffic management solutions, including mobile radar,
trailer-mounted video traffic monitoring and Smart Work Zone
systems. PSI also offers advanced work zone products such as LED
solar-assisted variable message boards; solar-assisted flashing
arrow boards; portable work zone lighting for nighttime paving;
temporary and permanent crash attenuators; and an array of
channelizing devices. PSI provides local service through a network
of branch offices serving more than 20 states.
www.protectionservices.com
Aperion Management LLC
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 has been an investor in RoadSafe since its
inception in 2007.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161117005966/en/
for ORIX USAAmanda Gleason,
972-770-5083agleason@marketwave.bizorJeff Smith,
214-237-2301Jeff.smith@orix.com
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