Hastings Equity Builds Leading Traffic Control Platform with Investment in Superior Road Striping
BOSTON, MA, January 4, 2024 - Hastings Equity Partners (“Hastings”), a preferred capital partner to founders of lower middle market businesses, is pleased to announce their Fund IV portfolio company, High Star Traffic (“High Star”), has acquired Superior Road Striping (“Superior”). This is the first add-on investment High Star has completed since Hastings formed the Midwest traffic control platform in July 2022. High Star was created through the combination of three premier founder-led traffic services businesses: Traffic Control & Protection, TSI Traffic Control, and Traffic Control Specialists.
Superior is a leading provider of permanent line striping and reflective marker installation, replacement, and maintenance in the Chicagoland area. The investment in Superior expands High Star’s permanent pavement marking capabilities, enabling High Star to provide a full suite of traffic control solutions to customers across Illinois, Wisconsin, and Indiana.
“High Star provides Hastings’ investors with exposure to the large, stable, and growing market for perpetual road maintenance,” said Rob Scaramella, Managing Director at Hastings. “Superior represents a strategic investment in diversifying our service offering and increasing our scale, strengthening our leadership in existing markets, and positioning us for continued growth. We are excited to partner with the Superior team and look forward to growing this important service for all our customers.”
“The Superior team could not be more excited to join with High Star and Hastings in this exciting partnership,” said Joe Yario, Superior’s founder. “Our partnership with High Star allows Superior more robust resources to capture a greater share of the market, while also providing long-term growth and stability for our employees. There is a significant opportunity for our services, and this partnership best positions us to achieve that potential.”