Sterling Partners Adds Altus Traffic Management to its Portfolio
CHICAGO, IRVINE, Calif. & IRVING, Texas--(BUSINESS WIRE)--Jun 12, 2018--Sterling Partners, a diversified investment firm committed to building high-quality companies, has partnered with Altus Traffic Management (“Altus”), a full-service traffic management and work zone safety provider. Altus will immediately join Traffic Solutions Corporation (“TSC”), a company in which Sterling previously invested that provides comprehensive traffic control products and services in California, Hawaii, and Nevada. The transaction officially closed on June 6, 2018.
With Altus, TSC will bring its traffic control services and product sales platform to the Texas, Washington, and Colorado markets. Combined, the companies will have twenty-six locations across six states.
“When we partnered with Traffic Solutions Corporation, the plan was to look for and leverage opportunities for accelerated growth. Bringing Altus into the fold allows us to quickly scale TSC’s platform to better serve customers across a wider geographic footprint,” said Mike Drai, Managing Director at Sterling Partners. “We will continue to support companies that have clear growth opportunities and offer innovative and efficient solutions to solve our nation’s infrastructure challenges.”
Founded in 2006, Altus works with utilities, construction contractors, and government agencies solving major traffic and construction zone safety issues. Altus’ 375 employees provide more than 575 customers with traffic control services, equipment rental and design, permitting and training and completes more than 6,750 projects each year.
“Our two organizations are working toward the same goal: to create safer roadways and work environments throughout the United States,” said Jeff Holcomb, Chief Executive Officer at Altus. “With TSC, we can now leverage best practices, resources, and other operating synergies while remaining focused on providing the services that help our customers succeed.”
Altus’ partnership with TSC supports their shared growth strategies to enter new geographies, diversify service offerings, and expand in existing end markets. Both companies’ experienced leadership teams and talented employees will continue to provide high-quality, safe, and cost-effective traffic control solutions. With the new relationship, Altus can also offer its customers access to TSC’s robust equipment and product sales capabilities.
Don Nicholas, President of TSC, said, “We are thrilled to partner with the Altus team. As we look to grow, Altus is a great company and a great fit to help us expand both our services and the markets we serve.”
Altus marks Sterling Partners’ tenth investment in the industrial, maintenance, and infrastructure services sector. Sterling will continue to actively evaluate and invest in high-quality companies within this segment that are committed to providing critical services safely and efficiently.
About Sterling Partners
Sterling Partners is a diversified investment management firm with a distinct point of view on how to build great companies. Founded in 1983 and having invested billions of dollars, Sterling is guided by its stated purpose, INSPIRED GROWTH®, which describes Sterling’s approach to investing in differentiated businesses and growing them in inspired ways. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success.
About Altus Traffic Management
Altus is a leading full-service traffic management and work zone safety provider serving utilities, construction contractors, and government agencies. Headquartered in Dallas, TX, Altus has nine locations across Texas, Washington and Colorado. Its 375 employees serve more than 575 clients that include DOTs, state and local governments, roadway construction contractors and subcontractors, and railroad, utilities, and utility contractors and subcontractors. Altus provides traffic control services, equipment rental and design, permitting and training.
About Traffic Solutions Corporation
Headquartered in Irvine, CA, TSC is one of the largest providers of traffic control products and services with eighteen locations in California, Hawaii, and Nevada. The company offers a diverse array of traffic control solutions, including job-site work, product sales, equipment rental, sign manufacturing, and installation for customers. TSC’s scale, broad capabilities, professionally trained staff, and strong product distribution capabilities significantly differentiate the company from the competition.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180612006009/en/
CONTACT: For Sterling Partners
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA ILLINOIS TEXAS
INDUSTRY KEYWORD: TRANSPORT OTHER TRANSPORT PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Sterling Partners
Copyright Business Wire 2018.
PUB: 06/12/2018 10:43 AM/DISC: 06/12/2018 10:43 AM