KRG Capital Partners (“KRG”), a Denver-based buyout firm, has sold Trafficware (“Trafficware” or the “Company”), a leading provider of intelligent traffic solutions (ITS) for the transportation industry to Cubic Corporation (NYSE: CUB) (“Cubic”).
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Ted Nark, Managing Director at KRG, commented, “We have enjoyed an incredibly rewarding partnership with Trafficware’s industry-leading management team. Their outstanding execution of Trafficware’s growth strategy has positioned the Company as a market leader in intelligent traffic solutions and we are confident that they will continue their track record of growth in the years to come. We wish them all the best with their new partner Cubic.”
“During our partnership with KRG, the Company successfully executed a multi-pronged growth strategy highlighted by strategic investments in its executive leadership, sales team, product development across multiple software platforms, and new product introduction of IoT devices,” added Trafficware CEO, Jon Newhard. “I am very thankful to KRG; they have been great partners to myself and to the business.”
KRG partnered with management to recapitalize Trafficware in November 2011, and the sale of the Company represents the 13th successful exit in KRG’s Fund IV.
Harris Williams served as financial advisor and Hogan Lovells served as legal advisor to Trafficware on the transaction.
Based in Sugar Land, Texas, Trafficware provides a fully integrated, innovative suite of software, Internet of Things (IoT) devices and hardware solutions that provide customers with enhanced mobility and improved safety. As a company driving innovation in the traffic industry, Trafficware builds traffic management infrastructure for the next-generation of Smart Cities. Trafficware currently has the fastest-growing central management system as well as adaptive traffic control technology; and most recently, Trafficware designed applications for the latest in Connected Vehicle technology for traffic signal systems. The company’s flagship Synchro® Studio suite helps improve traffic operations of all sizes and Trafficware’s Advanced Traffic Management System (ATMS) is used by more than 200 transportation authorities as the cornerstone of their central traffic management system. To learn more about Trafficware, visit www.trafficware.com.
About KRG Capital Partners
Founded in 1996, KRG is a Denver based private equity buyout firm with $4.4 billion of cumulative capital either deployed or available for future investment, which includes approximately $1.2 billion deployed since inception by institutional equity co-investors. The Firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. More information on KRG is available at www.krgcapital.com.
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