Monroe Street Partners, a Chicago-based private equity firm, has bought a majority stake in American Roadway Logistics.

Based in Norton, Ohio, ARL offers pavement marking and traffic maintenance services for public and private roadway construction projects. Since the company’s founding in 2006, ARL has grown from a traffic maintenance operation to a provider of roadway safety services boasting a workforce of over 150 employees across two locations. The acquisition of ARL represents MSP’s third platform investment.

“We believe the business is well-positioned to capitalize on several macroeconomic tailwinds including the need to upgrade the country’s aging infrastructure as well as the increasing need for more sophisticated lane markings,” comments Kenneth Mill, managing partner at MSP.

First Merchants Sponsor Finance and Oxer Capital provided debt financing for the transaction and Ice Miller LLP served as legal counsel for MSP.