Platinum Equity To Acquire American Traffic SolutionsApril 18, 2017
FOR IMMEDIATE RELEASE
SILICON VALLEY — April 18, 2017 — Platinum Equity has signed a definitive agreement to acquire American Traffic Solutions. Financial terms of the transaction were not disclosed.
American Traffic Solutions was represented by O’Melveny’s Silicon Valley-based team, which was led by partner Paul Sieben, counsel Tim Hagen, and associates Hilary St. Jean and Bhavreet Gill.
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O’Melveny & Myers LLP
The following release was issued by Platinum Equity:
Platinum Equity To Acquire American Traffic Solutions
LOS ANGELES, CA–(Marketwired – April 17, 2017) – Platinum Equity today announced it has signed a definitive agreement to acquire 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.
“ATS is a strong company with great leadership and vision, and a workforce dedicated to providing their customers with superior service,” said Jacob Kotzubei, the partner at Platinum Equity whose team led the acquisition. “We expect the company will benefit from Platinum Equity’s financial and operational resources, enabling continued investment in technology and new products.”
ATS Chairman and Founder James Tuton said that Platinum Equity and ATS are an excellent fit.
“This is great news for the company and its customers,” said Mr. Tuton. “I have spent 30 years in the business and I am confident that Platinum will be a great partner and will bring the resources and support services needed to take the company into the future.”
Mr. Kotzubei also expressed enthusiasm about working with ATS President and COO David Roberts and his team going forward. Mr. Roberts said the move will benefit ATS’s long-term strategic plans.
“This transition to new ownership will position ATS for growth well into the future as we continue to provide our customers with smarter, safer transportation solutions,” said Mr. Roberts. “We look forward to being part of Platinum Equity’s impressive portfolio of high-performing companies.”
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with more than $11 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 185 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.