Roadway Infrastructure: M&A Across the Ecosystem

EPI Article Roadway Infrastructure Momentum Header

Harris-Williams Bio-Crop 0082 1012 DrewSpitzer

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Harris-Williams Bio-Crop 0016 0133 GregWaller

Harris-Williams Bio-Crop 0102 0513 MattWhite

Harris-Williams Bio-Crop PatrickFitzsimmons2

Harris-Williams Bio-Crop 0025 0031 ChrisToussaint

EPI Article Roadway Infrastructure Momentum LI web-media

This article shares what’s driving investor interest in roadway infrastructure and recent Harris Williams clients that illustrate the sector’s growth potential. 

Roadway Infrastructure: M&A Across the Ecosystem 

Frontline Road Safety Acquired by Bain Capital

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Mergers & Acquisitions

GeoStabilization International Acquired by Leonard Green & Partners

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Consor Acquired By New Mountain Capital

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RHV Capital's Traffic Control Group & Texas Traffic and Barricade

6130 AWP Inc (Project Wolverine) NT

Trafficware provides a fully integrated, innovative suite of software, Internet of Things (IoT) devices and hardware solutions that provide customers with enhanced mobility and improved safety. As a company driving innovation in the traffic industry, Trafficware builds traffic management infrastructure for the next-generation of smart cities. 
 
 A portfolio company of KRG Capital Partners 
 
 Has been acquired by Cubic Corporation, San Diego, California

Trafficware

United States

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Guardian Capital Acquires Q-Free 

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Harris Williams advised Area Wide Protective (AWP), a portfolio company of The Riverside Company, on its sale to Kohlberg & Company. AWP is a leading provider of traffic-control services and equipment to electric and gas utilities as well as to telecommunications and infrastructure customers.

Area Wide Protective

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Harris Williams advised Olympus Partners on the sale of Ennis-Flint, a world leader in pavement markings and traffic safety solutions, to PPG (NYSE:PPG).

Ennis-Flint

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Harris Williams advised PTV Group, a portfolio company of Bridgepoint and Porsche SE, on its acquisition of Econolite, a leading North American provider of intelligent traffic management solutions.

Econolite

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Striping and Roadway Maintenance: Frontline Road Safety

Harris Williams advised <a href="../transactions/frontline-road-safety-acquired-by-bain-infrastructure-services-m&amp;a-deal" target="_blank" rel="noopener">Frontline Road Safety</a>, a portfolio company of The Sterling Group, on its sale to Bain Capital. Frontline provides pavement marking services to keep vital roadway infrastructure safe and operational. The company serves a broad array of customers, such as state DOTs, general contractors, and airports.
&ldquo;Frontline uses its super-regional footprint and unparalleled local density to deliver mission-critical solutions and resources to its customers,&rdquo; says Fitzsimmons. &ldquo;The business is well positioned to continue serving its customers in existing regions and expand into new geographies and services to meet growing demand across the sector.&rdquo;
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Flagging and Traffic Control: AWP Safety

Harris Williams advised <a href="../transactions/area-wide-protective" target="_blank" rel="noopener">AWP Safety</a>, a portfolio company of The Riverside Company, on its sale to Kohlberg &amp; Company. We also advised the business on its strategic acquisition of <a href="../transactions/rhv-capitals-traffic-control-group-and-texas-traffic-and-barricade" target="_blank" rel="noopener">RHV Capital&rsquo;s Traffic Control Group and Texas Traffic and Barricade</a>.
AWP is a top work zone safety partner in the U.S., protecting those who build infrastructure in local communities. Its capabilities range from work zone flagging to design and engineering for transportation management plans, equipment sales, rentals, and 24/7 support.
&ldquo;Thanks to its scale, resources, advanced technology, and comprehensive service offering, AWP takes full advantage of the rising need for traffic control safety across an extensive customer base, including utility, broadband, and transportation infrastructure,&rdquo; says White.
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Transportation Engineering: Consor and GeoStabilization International

Harris Williams advised <a href="../transactions/consor-acquired-by-new-mountain-engineering-construction-m&amp;a-deal" target="_blank" rel="noopener">Consor Holdings LLC</a>, a portfolio company of Keystone Capital, on its sale to New Mountain Capital LLC. Consor provides civil infrastructure planning, engineering design, structural assessment, program management, and consulting services to public and private sector clients across transportation and water markets.
&ldquo;Transportation engineering is a focus area for many investors due to the stable funding dynamics and macroeconomic tailwinds supporting further roadway infrastructure spending,&rdquo; says <a href="../person/greg-waller" target="_blank" rel="noopener">Greg Waller</a>, a managing director in our Energy, Power &amp; Infrastructure Group. &ldquo;As Consor enters its next phase of growth, it&rsquo;s poised to continue expanding its geographic reach and services through both organic growth and strategic M&amp;A.&rdquo;
In addition, we advised <a href="../transactions/geostabilization-international-acquired-by-leonard-green-partners" target="_blank" rel="noopener">GeoStabilization International (GSI)</a>, a portfolio company of KKR, on its sale to Leonard Green &amp; Partners, L.P. GSI offers geohazard mitigation and roadway safety services that protect and secure critical infrastructure, allowing economies and communities to safely operate. The company&rsquo;s integrated engineering and execution capabilities deliver geotechnical solutions to private and public customers across geographies and end markets.
&ldquo;GSI combines high-value, essential services with best-in-class leadership and infrastructure to create a highly differentiated platform,&rdquo; says <a href="../person/drew-spitzer" target="_blank" rel="noopener">Drew Spitzer</a>, a managing director in our Energy, Power &amp; Infrastructure Group.
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ITS: Trafficware

Harris Williams advised <a href="../transactions/trafficware" target="_blank" rel="noopener">Trafficware</a>, a portfolio company of KRG Capital Partners, on its sale to Cubic Corp. Trafficware offers advanced ITS solutions to state and local governments across the U.S. and other select countries around the world. Its fully integrated suite of software, advanced detection, and hardware provides customers with enhanced mobility and improved safety.
&ldquo;As a company driving innovation in the ITS industry, Trafficware and Cubic develop advanced traffic management and tolling systems for safer, cleaner, and more efficient cities,&rdquo; says <a href="../person/chris-toussaint" target="_blank" rel="noopener">Chris Toussaint</a>, a director in our Industrials Group. &ldquo;Increased public focus on pedestrian safety and traffic congestion reduction continue to drive spend on technology-forward ITS solutions.&rdquo;
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