Colorado Barricade Expands into Washington State with the Acquisition of Leading Road Safety Services Company, Pavement Surface Control
DENVER, November 29, 2022--(BUSINESS WIRE)--Colorado Barricade Co. ("Colorado Barricade"), the leading provider of traffic control and road safety services in the Mountain Region, has teamed up with Pavement Surface Control, Inc. ("PSC", and together the "Company"), a leading road safety and infrastructure services provider based in Kennewick, Washington. The combination of Colorado Barricade and PSC establishes the Company as one of the largest road safety and infrastructure service providers focused on opportunities in the Western U.S., with operations now in the Mountain Region and Pacific Northwest. The acquisition of PSC represents the inaugural add-on acquisition completed by Colorado Barricade since Caymus Equity’s initial investment in 2021. PSC's President, Matt McDaniel, and his team will continue leading PSC operations.
"We are extremely excited about teaming up with the amazing people at Pavement Surface Control to expand our geographic presence into the Pacific Northwest, a market that presents significant growth opportunities for infrastructure construction. The Mountain Region and Pacific Northwest are two of the fastest growing regions in the country and have some of the greatest needs for infrastructure improvements. Companies who have the scale, equipment and personnel to meet the high demand are going to benefit from the increased state and federal infrastructure spending in the years ahead," commented Ted Ott, CEO of Colorado Barricade.
"Partnering with the PSC team is another step forward in executing on our investment thesis for Colorado Barricade," commented Chris Faux, Principal and investment lead at Caymus Equity. "Broadening our geographic reach with a leading partner that has complimentary services is a big step toward becoming the leading road safety and infrastructure service provider in the Western U.S."
The acquisition of PSC closed on October 31, 2022. Chinook Capital Advisors represented Pavement Surface Control in the transaction.
Pavement Surface Control is a leading provider of concrete barrier, pavement striping, traffic control and safety flagging, and pavement maintenance to Washington Department of Transportation, local municipalities, roadway infrastructure contractors, utility contractors, and other private customers throughout the Pacific Northwest.
Colorado Barricade is a leading provider of traffic control, daily rental, pavement marking & striping, sign installation, and safety equipment sales to commercial customers, utility contractors, and roadway infrastructure contractors in the Mountain Region.
Caymus Equity is a leading lower middle market private equity firm based in Atlanta and New York, currently investing out of Caymus Equity Partners Fund II L.P. We invest in profitable companies with significant upside potential where the owners and management teams are seeking a value-added partner to help fuel growth. Our partnerships center around mutual culture, business values, and goals as the foundation for driving sustainable growth and value for all stakeholders. We strive to work with management to develop and refine strategy and provide support while leaving day-to-day execution to the operators of the business. We seek to invest between $10 and $50 million of equity in the business and consumer services industries.
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