Sterling Partners Invests in Traffic Solutions Corporation to Improve America’s Aging Infrastructure
CHICAGO--(BUSINESS WIRE)--May 17, 2018--Sterling Partners, a diversified investment firm committed to building great companies and inspiring growth, has invested in Traffic Solutions Corporation (“TSC”), a leading provider of comprehensive traffic control products and services. TSC’s 750 employees provide more than 2,000 customers with job-site work, product sales, and equipment rental across 18 locations throughout California, Hawaii, and Nevada. The transaction officially closed on May 2, 2018.
With Sterling’s capital and under existing TSC President Don Nicholas’ leadership, a 35-year industry veteran, TSC will look to enter into new geographies, diversify its service offerings, and expand in existing end-markets. This investment marks Sterling’s first buyout outside of its existing middle-market funds and signifies the firm’s commitment to building high-quality companies.
“Industrial services providers are more important than ever given the investment needed in the nation’s current infrastructure,” said Mike Drai, Managing Director at Sterling Partners. “Don and his team at TSC have successfully built a strong platform and we look forward to leveraging opportunities for accelerated growth.”
Not only does TSC provide innovative solutions and operational expertise, it has also built a world-class reputation for its safe, high-quality, and cost-effective temporary traffic control services. Customers include public utilities like Sacramento Municipal Utility District, Honolulu Rail, Hawaiian Electric and PG&E, federal, state, county, and city agencies, private utilities, large road and bridge building firms, general contractors, and special event producers.
“I am tremendously proud of our employees who are so committed to working with our customers to preserve America’s roads and rails. This new partnership is a testament to the hard work we put in to establish TSC’s successful platform, and the investment means exciting possibilities for our future,” said Don Nicholas, President of TSC. “Sterling Partners shares our urgency and enthusiasm for addressing America’s infrastructure, and we look forward to identifying new innovations and growth opportunities for customers and employees.”
About Traffic Solutions Corporation
Headquartered in Irvine, CA, Traffic Solutions Corporation (“TSC”) is one of largest providers of traffic control products and services with 18 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.
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. Currently, Sterling manages approximately $2.3 billion in assets under management.
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CONTACT: For Sterling Partners
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA ILLINOIS
INDUSTRY KEYWORD: BUILDING SYSTEMS ARCHITECTURE PROFESSIONAL SERVICES LANDSCAPE URBAN PLANNING CONSULTING FINANCE CONSTRUCTION & PROPERTY
SOURCE: Sterling Partners
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PUB: 05/17/2018 12:21 PM/DISC: 05/17/2018 12:20 PM