Traffic Control & Protection Inc.

Overview

Deal Type Debt Capital Markets
Mergers & Acquisitions
Size $75.8 Million
Senior Secured Credit Facilities
Client & Transactional Partners Traffic Control & Protection Inc.
Hastings Equity Partners, LLC
Our Role Debt Advisor

Summary

On July 26, 2022, KeyBanc Capital Markets (KBCM) successfully advised Hastings Equity Partners (Hastings) on the closing of an aggregate $75.8 million in Senior Secured Credit Facilities (the Credit Facilities) for the acquisition of Traffic Control & Protection Inc. (TCP or the Company). The Credit Facilities consisted of a $10 million Revolver, a $45.8 million Term Loan and a $20 million Delayed Draw Term Loan. KBCM acted as Debt Advisor on the transaction.

TCP is a leading provider of traffic control services including equipment rental, line striping and flagging for public and private customers in the Midwest, specifically for road infrastructure and utility customers. The company was created through the combination of three traffic control and safety businesses.

Founded in 2004, Hastings is a middle market private equity firm with offices in Boston, Massachusetts and Houston, Texas. Hastings invests in founder and owner operated companies that generate between $4 million to $20 million EBITDA and is currently investing out of its fourth institutional fund (Fund IV), a $135 million vehicle closed in 2019.

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