RoadSafe Traffic Systems Acquires Protection Services Inc.
The two companies combine to offer a nationwide network of traffic control services
Nov 21, 2016
RoadSafe Traffic Systems, the largest provider of traffic control and pavement marking services in the U.S., announced 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.
The acquisition will enable RoadSafe to expand its footprint of more than 50 branches and leading 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.
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX's highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 37 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website: http://www.orix.co.jp/grp/en/
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). 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 Advisors 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
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