Trafficware Purchases PSI Acquisition, LLC
DENVER, CO (March 6, 2014) – Trafficware Group, Inc., a KRG Capital Partners Fund IV (KRG) portfolio company and leading participant in the intersection control hardware and software segments of the intelligent transportation systems market, announced that it has acquired PSI Acquisition, LLC, an Oregon-based manufacturing company that specializes in intelligent traffic solutions. Their product line includes a variety of CALTRANS traffic control cabinets, controllers and conflict monitors, innovative power backup technology, and industry-leading Cyberlock Security Access System.
“Trafficware is committed to bringing innovation and technology to the traffic industry, as well as a broad portfolio of products. Our goal is to equip our customers with the ability to solve the most complex traffic management problems, whether through organic product development, partnership, or acquisition,” said Jon Newhard, CEO of Trafficware. PSI’s product line includes 33X series cabinets, 170 controllers, 218 conflict monitors, and the CUB-20 power back-up generator. “The acquisition of PSI represents another step in this process by bringing quality CALTRANS approved cabinets into the Trafficware family,” adds Newhard.
KRG made an investment in Trafficware in November 2011, representing the 10th of 14 platform company investments made to date in KRG Fund IV. PSI represents the 192nd investment for KRG since inception.
About Trafficware: Trafficware specializes in research, design, and development of electronic equipment and enterprise software designed to enhance the transportation industry. Our industry expertise comes from hands-on experience attained while solving traffic management challenges across the country since 1979; our in-house team, including professional traffic engineers, hardware and software design and development staff, manufacturing personnel, and customer service/field application engineers; and regular dialogue with our customers to address their real-world operational issues and future traffic management requirements. Trafficware manufactures a full line of traffic equipment in its 90,000 square-foot technology center located in Sugar Land, Texas. In over three decades of manufacturing in the USA, our products have earned a reputation for unmatched quality and reliability. Through our innovative technology and breadth of knowledge and experience, Trafficware is engineering a better way to move the world.
About KRG: Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring majority interests in middle-market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG Capital seeks investment opportunities where we can partner with existing management teams that are committed to building a best-in-class industry leading companies. Since inception, KRG has invested in 45 platform companies and has completed 147 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.