Hastings Equity Partners Invests in Traffic Control Partners
BOSTON, MA (July 26, 2022) – Hastings Equity Partners (“Hastings”), a preferred capital partner to founders of lower middle market businesses, is pleased to announce its sixth Fund IV platform investment in Traffic Control Partners, LLC (“TCP”). TCP is the combination of three founder-led traffic services businesses: Traffic Control & Protection, LLC; TSI Traffic Control, LLC; and Traffic Control Specialists, LCC to form a leading traffic control platform in the Midwest.
TCP provides a full range of traffic control solutions to support road maintenance work for public and private customers. Headquartered in Bartlett, IL and with facilities across Illinois, Indiana, and Wisconsin, TCP offers equipment rental, temporary and permanent line striping, and flagging to general contractors, state departments of transportation, municipalities, tollways, and utilities.
The founders of each business – Paul, Bob, and Michael Chicoine, Mike Traficanti, and Brian Triska – all retain significant ownership and will continue to be actively involved in day-to-day management of the business. Customers can expect TCP to continue as a trusted and best-in-class partner with additional resources, wider reach, and increased service offerings to meeting their growing needs.
“Paul, Bob, Michael, Mike, Brian and their families have built market-leading traffic control businesses in their respective geographies, and we could not be more excited to partner with them in creating this powerful combination”, said Rob Scaramella, Managing Director at Hastings. “We look forward to supporting the continued growth of the company alongside this talented group of owners.”
“TCP is excited to partner with Hastings to expand our resources and capabilities to meet the growing needs of our customers”, said Paul Chicoine, President of TCP Illinois. “This combination creates a best-in-class traffic control platform that will only enhance our ability to deliver the safest, most dependable, and highest quality service to our customers, employees, and the motoring public.”
“The Chicoine, Traficanti, and Triska families have had a close personal and professional relationship since we began in this industry together”, added Bob Chicoine, founder of Traffic Control & Protection and Vice President of TCP. “We could not be more pleased to embark on the next chapter of our history together, and to add Hastings to the TCP family.”
“This transaction was an ambitious undertaking that required the effort and collaboration of many people”, said Mike Traficanti, founder of TSI Traffic Services and Vice President of TCP. “We are thrilled to bring our companies together to achieve the opportunity we see ahead, and we thank Hastings for their partnership in executing a complex transaction while never losing sight of the people involved”.
“TCP is uniquely positioned to capitalize on the significant demand for traffic control services”, said Brian Triska, President of TCP Indiana. “Our company has the people, experience, and capital to allow us to take our business to the next level and take care of our customers better than ever before.”