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.
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 Partnerse LLC.