Transaction strengthens RoadSafe’s Mountain West position
CHICAGO–(BUSINESS WIRE)–RoadSafe Traffic Systems (RoadSafe), the nation’s largest provider of traffic control and pavement marking services, announced today the acquisition of Innovative Marking Systems (IMS). Based in Bluffdale, UT, IMS is a leading supplier of roadway striping and removal, epoxy and waterborne paint pavement markings, and sign installation services in the Mountain West region.
The acquisition of IMS will further establish RoadSafe’s position in the Mountain West region and expansion into the Utah market, one of the fastest-growing markets for traffic management in the U.S. The transaction follows RoadSafe’s recent growth in the Pacific North West and West Coast, which has become an increasingly active region for the company as part of its Western U.S. strategy.
“The addition of IMS expands our service offerings while establishing our geographic presence in attractive, high-growth regions,” said David Meirick, CEO of RoadSafe. “Under the leadership and direction of Paul and Mary Cheever, IMS has a strong reputation in the industry, and their level of service – combined with their expertise – make them a strong fit for RoadSafe.”
IMS founder and CEO, Paul Cheever, will continue to lead the Utah operation alongside the current management team.
“We are excited to join the RoadSafe family,” said Paul Cheever. “By joining RoadSafe, we will continue to provide our customers with excellent service while investing in our resources and our team. RoadSafe’s focus on company culture, safety and customer service aligns well with our values and makes this a seamless choice for IMS.”
“As RoadSafe continues to execute on its consolidation strategy, the addition of IMS helps advance the company’s traffic control and pavement marking service offering in key markets,” said Mohammed Khalil, Director at ORIX Capital Partners, the private equity platform of ORIX Corporation USA whose managed fund acquired RoadSafe in 2016. “This acquisition supports RoadSafe’s position as the country’s leading traffic management provider, and we look forward to further accomplishments building on combined strengths.”
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. For more information, visit www.roadsafetraffic.com.
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.
Contacts
Rohini Pragasam
Rohini.Pragasam@orix.com
646.319.3680
