KRG Capital Portfolio Company Trafficware Acquired by Cubic Corporation
October 25, 2018
DENVER–(BUSINESS WIRE)–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”).
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.
About Trafficware
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.
Contacts
KRG Capital
Charlie Gwirtsman, KRG Managing Director
Ted
Nark, KRG Managing Director
303-390-5001