RoadSafe Traffic Systems Acquires Protection Services Inc.
RoadSafe Traffic Systems, a portfolio company of ORIX Capital Partners LLC and the nation's largest provider of traffic control and pavement marking services, announced today its acquisition of Protection Services Inc.
RoadSafe Traffic Systems, a portfolio company of ORIX Capital Partners LLC and the nation's largest provider of traffic control and pavement marking services, announced today its acquisition of Protection Services Inc. (PSI). Based in Harrisburg, Pennsylvania, PSI also offers traffic control and pavement marking services—as well as product sales and rentals—to private contractors, federal agencies, state transportation departments, governmental entities and various utilities. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161117005966/en/ The acquisition will enable RoadSafe to expand its footprint of more than 50 branches and lead to a nationwide network that can serve projects of any size in over 40 states. PSI's team of nearly 300 employees is expected to join the RoadSafe family, which will now number nearly 1,500 in total employment. "It was an opportune time for our two companies to join forces as we expand service offerings and add resources to support growth," said David Meirick, President and CEO of RoadSafe. "PSI is a respected company in the industry, and their level of service—combined with their expertise—made them a great fit for RoadSafe." Funding for the PSI acquisition was provided by ORIX USA Corporation, which partnered with Aperion Management to acquire RoadSafe in February 2016. ORIX Capital Partners LLC, formerly known as IX Capital Partners, is a subsidiary of ORIX USA and manages RoadSafe as a portfolio company. "We continue to seek strategic add-ons for RoadSafe which will complement the strong organic growth the company has experienced as a result of the incredible value, reliability and safety of its services," said Christopher Suan, Managing Director for ORIX Capital Partners LLC. ORIX USA Corporation ORIX USA provides 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 600 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 37 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 www.orix.com. ORIX Capital Partners LLC ORIX Capital Partners LLC, formerly known as IX Capital Partners, is a fully 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 business services, retail, consumer, industrials, telecommunications and technology. ORIX Capital Partners LLC is led by President and CEO Yoshiteru "Terry" Suzuki, who previously served as Co-CEO of Cerberus Japan, along with Managing Director Christopher Suan, who joined ORIX Capital Partners from his position as ORIX USA's Chief Development Officer. Before joining ORIX USA, Suan was a Managing Director at KKR.