RoadSafe Traffic Systems, which is backed by ORIX Capital Partners, has acquired Corona, California-based A Cone Zone, a provider of traffic management equipment and services. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–RoadSafe Traffic Systems (“RoadSafe”), the nation’s largest provider of traffic control and pavement marking services, announced today the acquisition of A Cone Zone Inc. Founded in 2003 and based in Corona, California, A Cone Zone is a leading provider of high-quality traffic management equipment and services in Southern California with focus on serving utility end markets.
The acquisition of A Cone Zone enables RoadSafe, which was acquired by ORIX Capital Partners in 2016, to expand its footprint of more than 50 branches throughout California, one of the largest markets for traffic management in the U.S., as a leading provider of traffic control services and products. The transaction follows RoadSafe’s recent growth in the Pacific Northwest, which has become an increasingly active region for the company as part of its Western U.S. strategy.
“Having served the California market for nearly twenty years, partnering with A Cone Zone is a milestone for RoadSafe in our efforts to establish a more robust presence in California,” said David Meirick, CEO of RoadSafe. “A Cone Zone is a best-in-class provider in the region that has built a strong reputation for having a highly talented staff and delivering quality service.”
Elaine Norland, Founder and President of A Cone Zone, will continue to lead the California operation alongside the current management team.
“We are excited to partner with RoadSafe,” Norland said. “We continuously strive to better serve our customers and invest in our workforce. With RoadSafe, we have found a partner that aligns with our priorities. Their focus on safety, execution and customer satisfaction complements our product offerings.”
“As RoadSafe continues to execute its consolidation strategy, the addition of A Cone Zone furthers its initiatives of expanding its utility service offering and geographic presence,” said Omar Akbar, Senior Investment Principal at ORIX Capital Partners. “This acquisition will enhance RoadSafe’s position as the country’s leading traffic management provider.”
RoadSafe Traffic Systems Inc.
RoadSafe Traffic Systems Inc. is the nation’s largest provider of traffic safety and pavement marking services, and innovative safety products, to heavy highway, building and specialty contractors, state transportation departments, local governments, special events organizations, U.S. railroads and utility companies.
For more information, visit www.roadsafetraffic.com.
ORIX Capital Partners
ORIX Capital Partners makes direct control private equity investments that seek to support growth and performance among established middle-market companies throughout North America. The team’s expertise spans industries including industrials, infrastructure services, transportation and business services. ORIX Capital Partners is a business unit of ORIX Corporation USA (ORIX USA), a financial services firm. ORIX USA’s parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 37 countries and regions worldwide. For more information, visit www.orixcapitalpartners.com.