Olympus Partners, a private equity firm in Stamford, has acquired Road Infrastructure Investment Holdings Inc., parent company of North Carolina-based Ennis-Flint, an international pavement markings and traffic safety solutions company.
The acquisition was for an undisclosed amount and was announced by both companies on June 13.
The deal gives Olympus a majority stake in Ennis-Flint, which was formerly controlled by the Texas firm, Brazos Private Equity Partners.
In late April Bloomberg News reported on rumors of a possible sale of the company with an estimated sale price as high as $1 billion.
“We are excited to invest in the company,” said Dave Cardenas, a partner at Olympus. “Ennis-Flint is a market leader that is well-positioned to capitalize on increasing global investments in traffic safety. We will continue to support the company’s long history of growth through additional internal investment as well as through strategic acquisitions.”
Ennis-Flint was formed in 2012 with the merger of Ennis Traffic Safety Solutions and Flint Trading Inc.
The company produces paints and other materials for markings on roads, runways and pedestrian paths from a network of 20 manufacturing facilities on four continents.
Founded in 1988, Olympus focuses on providing equity capital for middle market management buyouts and for companies needing capital for expansion. The company is an active, long-term investor across a range of industries, including restaurants, consumer products, healthcare services, financial services, packaging and business services.
According to Olympus, the firm manages in excess of $5.5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The acquisition of Ennis-Flint marks Olympus’ sixth investment out of a$2.3 billion fund.
