Bay Area Barricade Service acquired by RoadSafe Traffic Systems
RoadSafe Traffic Systems, Inc., the nation’s largest provider of traffic control and pavement marking services, announced today the acquisition of Bay Area Barricade Service, Inc.. Based in Concord, California, BABS provides high-quality job site and traffic safety products to the greater Bay Area.
BABS is RoadSafe’s seventh acquisition since early 2021. Craig Songster, President of BABS, will continue in a transitional role, leading his team under the RoadSafe umbrella.
“With the acquisition of BABS, we continue to grow our footprint on the West Coast and expand our offering throughout the California market,” said David Meirick, CEO of RoadSafe. “Since 1978, the Songster family has delivered quality products and services to their customer base in the East Bay area and we are thrilled to have them join the RoadSafe team.”
“I have spent 42 years in the traffic safety industry helping our family business grow with my father Leonard ‘Lenny,’ a pioneer in the industry with over 60 years of service, my mother Barbara ”Babs,” my brother Jeff and our incredible team. I am excited to partner with RoadSafe, a highly respected leader in our industry, to offer a great home for our employees and customers,” said Songster. “I look forward to our transition and the opportunities this partnership will provide for our employees, as well as the expanded services RoadSafe brings to our customers.”
Joe Scarano, President of RoadSafe, said: “With BABS, we will continue to execute on our vision of growing safely with outstanding people and superior companies, and advance our commitment to providing the highest possible value to the customers and communities we service. Craig and his team share this commitment, and we are proud to have them as part of our RoadSafe family.”
RoadSafe is the nation’s largest provider of traffic safety services, pavement markings, and innovative traffic safety products. Its customers include heavy highway contractors, state transportation departments, municipal governments, special events organizations, U.S. railroads and utility companies.
Trilantic Capital Management L.P. is a growth- focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.9 billion. Trilantic North America has been recognized by Inc. Magazine’s 2022 list of Top Founder-Friendly Investors and has been named one of GrowthCap’s 2021 Top 25 Private Equity Firms for Growth Companies.
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach. In January 2022, Investcorp issued its 2021 Responsible Business Report which outlines its Environmental, Social, and Governance (ESG) highlights for 2021 and specific initiatives the Firm implemented to meet its goals.
Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. As of March 31, 2022, Investcorp Group had US $41.2 billion in total AUM, including assets managed by third party managers, and employed approximately 480 people from 50 nationalities globally across its offices.