Vance Street Capital, a private equity firm, has acquired Eberle Design, a provider of intersection safety products.
As a result of the transaction, EDI will become part of Vance Street’s traffic and pedestrian safety ITS platform.
“I am excited about this partnership because it opens up significant opportunities for EDI to further its position as the leader in intersection safety and mission critical ITS products for safe & connected infrastructure,” said Dr. John Shearer, president of EDI. “We believe the future is bright at EDI with Vance Street’s ongoing support. Polara, Carmanah and EDI represent best in class businesses in the ITS space, and we are excited to work together to provide leading traffic and pedestrian safety solutions.”
Harris Williams and Paul Hastings LLP acted as financial and legal advisors to Vance Street Capital and Polara / Carmanah. Debt financing for the transaction was provided by Barings’ Global Private Credit and Manulife Investment Management.