RoadSafe Traffic Systems, which is backed by ORIX Capital Partners and Aperion Management, has acquired Reno, Nevada-based Optim Earth, a provider of 3D subsurface information required to plan and build structures, roads, bridges, tunnels and pipelines. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–RoadSafe Traffic Systems, the nation’s largest provider of traffic control and pavement marking services, announced today its acquisition of Optim Earth. Based in Reno, Nevada, Optim Earth provides customers on-demand access to accurate 3D subsurface information required to plan and build structures, roads, bridges, tunnels and pipelines. Optim Earth represents the third add-on acquisition for RoadSafe since ORIX Capital Partners acquired RoadSafe in 2016 in partnership with Aperion Management.
“The addition of Optim Earth creates synergies between our two companies, with many of the same customers supported for infrastructure construction, repair and maintenance projects,” said Dave Meirick, RoadSafe president and CEO. “Optim Earth has earned a solid reputation with contractors and engineers for its expert staff, service and cutting-edge technology. Our goal is to expand that footprint across the country and leverage our customer partnerships nationwide in doing so.”
The founder and president of Optim Earth, Bill Honjas, will remain in place and continue to handle daily operations among his team, while also providing strategic direction alongside RoadSafe.
“We are a service company that has some of the same customers as RoadSafe, such as state transportation departments, general contractors and utility companies,” Honjas said. “This is a win-win situation for everyone, and I’m excited to see the endless possibilities and opportunities that lie ahead.”
Optim Earth utilizes GroundSCOPE technology, which provides a comprehensive 3D working view of the Earth’s subsurface, from utilities to project depth. This helps avoid design conflicts before construction starts.
“Optim Earth has products all over the world used for geotechnical investigations,” Honjas said. “We can provide huge cost savings to end users in the project design phase because they can plan for what is underground and avoid the headaches of project delays encountered when running into something unknown.”
Terry Suzuki, president and CEO of ORIX Capital Partners, agrees that the acquisition will prove beneficial for all parties involved. “With the acquisition of Optim Earth, ORIX Capital Partners continues to realize our goal of seeking strategic add-ons for RoadSafe,” he said. “This will complement the strong organic growth Optim Earth has experienced as a result of the incredible value, reliability and safety of its services.”
About 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. www.roadsafetraffic.com
About Optim Earth Inc.
Optim Earth Inc. provides an advanced locating service by deploying GroundSCOPE, a cloud-based enterprise solution that provides customers on-demand access to accurate 3D subsurface information required to plan and build structures, roads, bridges, tunnels and pipelines.
About ORIX Capital Partners LLC
ORIX Capital Partners LLC makes direct control private equity investments that 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 Dallas-based financial services firm. ORIX USA’s parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 38 countries and regions worldwide. For more information, please visit www.orixcapitalpartners.com.
About Aperion Management LLC
Aperion is a New York-based private investment firm that seeks to invest in small to midsize businesses valued between $15 million and $150 million with solid fundamentals and attractive growth prospects. Aperion seeks to partner with driven management teams to identify key business drivers and unlock opportunities for value creation and growth, and has been an investor in RoadSafe since its inception in 2007.