Blue Point Recaps AWP

Blue Point Capital Partners has sponsored a recapitalization of AWP Inc., a Kent, Ohio-based provider of traffic control services. No pricing terms were disclosed. Leveraged financing was provided by Fifth Third Bank and Roynat Capital. 

PRESS RELEASE

Blue Point Capital Partners announced today that, in conjunction with Bill Fink and existing management, it has recapitalized AWP, Inc., a leading provider of traffic control services. AWP provides professional traffic control design and execution in support of repair, maintenance or construction activity affecting public roads. Blue Point and management provided the equity for the transaction with debt financing provided by Fifth Third Bank and Roynat Capital.

“We are very excited about the opportunity to invest in a company that we believe is uniquely positioned to capitalize on compelling growth dynamics in the utility service market,” said Sean Ward, a partner at Blue Point. “AWP is an excellent fit with Blue Point’s investment strategy of partnering with local management teams to build their businesses into market leaders.”

Headquartered in Kent, OH, AWP (www.awptrafficsafety.com) provides a comprehensive array of work zone design and execution services. The Company’s well-trained workforce and extensive equipment base allow it to respond to varying customer needs throughout a broad geographic region. AWP is in the process of expanding its Eastern U.S. footprint to the Southeast and Midwest, while continually improving its offering in existing geographies.

Bill Fink, chief executive officer of AWP, said, “I think I speak for everyone in this company in expressing our sheer enthusiasm for these developments. As a result of our partnership with Blue Point, AWP will now be in a much stronger position to expand its influence in the traffic control arena and offer a broader array of useful services to meet the needs of its public utility customers.”

Blue Point, with offices in Charlotte, Cleveland, Seattle and Shanghai, is one of the largest resident private equity firms in each of its target markets and focuses principally on investments in manufacturing, distribution and service businesses that primarily address commercial and industrial markets.  Blue Point has extensive experience in identifying, evaluating and successfully completing a variety of private equity investment transactions, including recapitalizations, management buyouts, corporate divestitures and industry consolidations.  The principals of Blue Point have completed over 90 investments with a total transaction value of more than $2 billion.