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PE-backed InfraStripe buys American Road Markings

InfraStripe, a portfolio company of Soundcore Capital Partners, has acquired American Road Markings, a Norfolk, Virginia-based regional provider of roadway marking services.

InfraStripe, a portfolio company of Soundcore Capital Partners, has acquired American Road Markings, a Norfolk, Virginia-based regional provider of roadway marking services. No financial terms were disclosed. Boxwood Partners was sell-side advisor to American Road Markings.

PRESS RELEASE

JUPITER, FL – (February 17, 2022) – Boxwood Partners is pleased to announce the sale of American Road Markings to InfraStripe, a portfolio company of Soundcore Capital Partners.
Boxwood Partners, a leading boutique middle-market investment bank based in Jupiter, FL, acted as the exclusive sell-side advisor to American Road Markings on the transaction. The transaction was led by J. Patrick Galleher (Managing Partner), Brian Alas (Managing Director), Robbie Nickle (Director), Kurtis Brown (Associate) and Daniel Alfano (Associate).

The terms of the deal were not disclosed.

The deal marks the latest in a series of 22 total transactions in which Boxwood Partners has advised over the past 24 months.

American Road Markings was established in 2003 and is headquartered in Norfolk, VA. The Company is a leading regional provider of roadway marking services, including thermoplastic, paint, and temporary pavement markings, roadway marker and delineator installation, asphalt sealcoating and crack repair, custom signage, and wheel stop installations. American Road Markings has many long-term customer relationships due to its reputation for clean, reliable work on private, local, municipal, state, federal, and military roadway projects.

“We are very excited to join the InfraStripe family, and we believe that this network of companies will serve as valuable partners to us as we continue to grow and expand our geographic coverage,” said founder and CEO, Chuck Cole. “InfraStripe has established itself as a best-in-class provider of roadway and pavement marking services, and we are eager to work hand-in-hand with the InfraStripe team to continue improving America’s roadway infrastructure.”

“This transaction has been a huge success for both parties,” said Boxwood Partners’ Managing Partner, J. Patrick Galleher. “InfraStripe will serve as a great platform for Chuck and his team, providing a rich assortment of resources for growth, while American Road Markings will provide InfraStripe a strong foothold in the valuable Mid-Atlantic region.”
InfraStripe is a national network of locally-known and trusted striping, roadwork and infrastructure companies. InfraStripe safely delivers superior specialized striping, traffic control, signage, guardrail, runway, and work zone service solutions to a diversified customer base across the United States.

“Chuck has built a phenomenal business in American Road Markings, as evidenced by his many years of success and loyal customers,” said Billy Miller, President and CEO of InfraStripe. “We are excited to partner with American Road Markings and to leverage their expertise with the federal government and military as we expand our platform across the country.”

Aaron Ambrose, Jonathan Lazarow, and Jake Lallo of Reaves Coley served as legal counsel for American Road Markings.

About Boxwood Partners
Boxwood Partners, LLC, is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve.

For more information about Boxwood Partners, please visit www.boxwoodpartners.com.