Platinum Equity has closed its previously announced acquisition of Arizona-based American Traffic Solutions, a provider of road safety cameras and toll and violations management solutions. No financial terms were disclosed. Also, David Roberts has been promoted to president and CEO.
LOS ANGELES, CA–(Marketwired – June 01, 2017) – Platinum Equity today announced it has completed the acquisition of American Traffic Solutions (ATS). Financial terms of the transaction were not disclosed.
Arizona-based ATS is a leading provider of road safety cameras and toll and violations management solutions throughout North America. The company has more than 3,500 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people. ATS’s Fleet Services business provides both toll and violation management solutions to fleets and rental customers.
Platinum Equity Partner Jacob Kotzubei said he expects ATS will benefit from the transition to new ownership.
“We will bring Platinum Equity’s financial, operational and M&A resources to bear in support of the company’s long-term strategic plans,” said Mr. Kotzubei. “ATS is a strong platform for growth, both organically and through prospective add-on acquisitions. We will pursue opportunities that can help broaden the company’s service offering and expand its geographic reach.”
In connection with the acquisition, David Roberts, previously ATS President and Chief Operating Officer has been promoted to President and Chief Executive Officer.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with $13 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations — a trademarked strategy it calls M&A&O® — acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed more than 190 acquisitions.
About American Traffic Solutions
ATS Safety is proud to be the market leader in road safety camera installations in North America. ATS Safety has more than 3,500 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people. ATS Fleet Services is a leader in providing both Toll and Violation Management Solutions to fleets and rental customers saving them time and money. For more information, please visit: www.atsol.com or atsfleetsolutions.com.