RoadSafe Traffic Systems Acquires Beth’s Barricades
Jul 25, 2017
RoadSafe Traffic Systems, the nation's largest provider of traffic control and pavement marking services, announced its acquisition of Beth's Barricades. Based in Pittsburgh, PA, Beth's Barricades provides contractors, municipalities and developers throughout Pennsylvania and Maryland with traffic control services and products. ORIX Capital Partners partnered with Aperion Management in 2016 to acquire RoadSafe.
The acquisition will enable RoadSafe to expand its footprint of more than 50 branches and increase its presence in Pennsylvania as a leading provider of traffic control services and products. Beth's Barricades' highly experienced management team and workforce are expected to join the RoadSafe family, which will now number nearly 1,900 in total employment.
Founded in 2005, Beth's Barricades operates in the work zone traffic control and safety industry. Traffic control services and products 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 addition of Beth's Barricades supports our strategy of expanding our service offerings," said David Meirick, President and CEO of RoadSafe. "Beth's Barricades has built a robust infrastructure to support its business operations and earned a solid reputation with contractors across the area for its expert staff, service and cutting-edge product lines."
In October 2016, RoadSafe acquired Protection Services Inc. (PSI), based in Harrisburg, Pennsylvania. PSI maintained an active presence in Pennsylvania where the company offered traffic control to private contractors, federal agencies, state transportation departments, governmental entities and various utilities.
"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 Capital Partners. "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."
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 36 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/
RoadSafe Traffic Systems Inc.
RoadSafe Traffic Systems Inc. is the largest and only national provider of pavement marking, sign installation and traffic control services & equipment to roadway construction, and railroad & utility industries in the U.S. RoadSafe and operates from 50-plus locations, enabling it to serve projects of any size in over 40 states. http://www.roadsafetraffic.com
ORIX Capital Partners LLC
ORIX Capital Partners LLC, formerly known as IX Capital Partners, is a wholly 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 infrastructure services, business services, and industrials. For more information on ORIX Capital Partners, visit http://www.orixcapitalpartners.com.
ORIX USA Corporation
Since 1981, ORIX USA has provided 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 700 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 36 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 http://www.orix.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.
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under (4) Risk Factors"of the"1. Summary of Consolidated Financial Results " of the "Consolidated Financial Results April 1, 2016 - March 31, 2017."
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