SOURCE: Blue Point Capital Partners, LLC

Blue Point Capital Partners, LLC

June 10, 2015 10:00 ET

Blue Point Capital Partners II Exits Area Wide Protective After More Than Tripling Revenues and EBITDA

CLEVELAND, OH--(Marketwired - June 10, 2015) - Blue Point Capital Partners announced today that it has sold its interest in Area Wide Protective (AWP) to The Riverside Company. Blue Point invested in AWP from its 2006 vintage fund, Blue Point Capital Partners II, L.P. -- a $400 million lower middle-market buyout fund. Sale terms were not disclosed.

AWP, headquartered in Kent, OH, is a leading provider of traffic control services, offering a comprehensive array of professional work zone design and execution services in support of repair, maintenance and construction activity affecting public infrastructure. The Company's well-trained workforce and extensive equipment base allow it to respond to varying customer needs throughout a broad geographic region.

"Facilitating the growth of local companies is an integral part of Blue Point's investment strategy, and we are especially pleased with the outcome at AWP," said Sean Ward, a partner at Blue Point. "Under our ownership, AWP has diversified both its customer base and geography served, leading to significant top-line and margin growth. We were fortunate to work with an outstanding leadership team and completed multiple strategic initiatives. The combined efforts have secured AWP's position as an industry leader."

Over the past seven years, AWP has successfully expanded into the Southeast and South Central United States, while continually improving its offering in the Midwest and Mid-Atlantic regions. Identified in conjunction with Blue Point's utility services investment initiative, AWP achieved EBITDA growth of more than 600% during Blue Point's ownership period, the great majority of which was derived from organic growth.

John Sypek, president and chief executive officer of AWP, stated, "Blue Point proved to be a valuable partner for AWP. Supported by Blue Point's experienced investment professionals and team of operating executives, we have grown from a regional business with 10 locations into a business with 43 locations across 17 states. I believe the operational and strategic path initiated under Blue Point's ownership will allow AWP to continue its expansion by offering a variety of traffic control services to meet our customers' needs, safely and efficiently, over an increasing geography."

BB&T Capital Markets served as the exclusive financial advisor to AWP in connection with this transaction.

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. Leveraging offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point's entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. The Blue Point group has a 25-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point's network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm's experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.

Contact Information

  • For more information, contact:

    BLUE POINT CAPITAL PARTNERS
    Sean Ward
    Partner
    Blue Point Capital Partners, LLC
    127 Public Square, Suite 5100
    Cleveland, OH 44114
    (216) 535-4700

    AREA WIDE PROTECTIVE
    John Sypek
    President and CEO
    AWP, Inc.
    826 Overholt Road
    Kent, OH 44240
    (800) 343-2650
    www.awptrafficsafety.com