Area Wide Protective, a Kohlberg & Co. portfolio company, has purchased Statewide Safety Systems from Sterling Partners, a diversified investment management platform with a large private equity focus. Statewide is a provider of traffic control products and services with a footprint west of the Mississippi and works with customers in four primary sectors: utilities and telecommunications, government, commercial building contractors, and highway contractors.
“Sterling’s investment in Statewide is one of the best representations of our strengths and strategy – investing in sectors of expertise, partnering with exceptional management teams, and executing on internal initiatives to accelerate growth,” said Steven Taslitz, co-founder and Chairman at Sterling Partners.
“With their deep understanding of the industrial services sector and clear vision for growth, Sterling has been a terrific partner,” said Don Nicholas, CEO of Statewide. “Their support, significant capital investment, and strategic direction drove meaningful growth and solidified Statewide’s market leadership. It’s been a privilege to work with them.”
“We believe that this strategic fit with AWP and Trafficade will provide tremendous opportunity to the Statewide team, from employees to customers to the communities they serve,” said Michael Drai, Chairman of the Board at Statewide. “This new phase of growth is very exciting, and we’re thrilled to see Statewide embark on its new chapter.”
Stifel served as Sterling’s exclusive financial advisor and assisted in initiating, structuring, and negotiating the transaction on its behalf. McGuire Woods served as the legal counsel.