CAI Capital Partners (CAI) is pleased to announce that its portfolio company, the Universal Group, and its related companies (together, Universal or the Company) has successfully closed the acquisition of Barricades and Signs Ltd. (Barricades).
Barricades, headquartered near Edmonton, Alta., was founded in 2004 by Robert and Fran van Bruggen and has grown into a leading traffic control company with operations across Alberta, British Columbia, Manitoba and Saskatchewan. Over the past eight years, the company has been successfully led by CEO Jan van Bruggen who, in partnership with Barrier Ridge Capital, has contributed to Barricades’ development and growth up to this point. As part of this exciting transition to the Universal Group, Bruggen will continue to lead Barricades and will also become a shareholder in the Universal Group.
“I am honored to be leading Barricades into this exciting next phase of growth and evolution,” said Bruggen. “Joining the Universal Group family aligns perfectly with our commitment to building healthy communities and supporting our employees and stakeholders as we strive to be our best. The alignment in vision and values between Barricades and the Universal Group is remarkable, and I look forward to seeing us thrive with their support and expanded network across Canada and the Pacific Northwest.”
The acquisition of Barricades marks a significant milestone in Universal’s strategy to expand its operations and presence in new markets across Canada. The acquisition of Barricades reinforces Universal as one of Canada’s preeminent providers of traffic control services, enhancing its ability to deliver unparalleled service and support for its clients nationwide, with coverage in nearly all provinces.
“We are thrilled that Barricades and Signs is joining the Universal Group of traffic management companies.” said Mike Menzies, CEO of the Universal Group. “This transaction is a major milestone for Universal as we continue to build on our national footprint of being the largest supplier of traffic management services and products across Canada. Barricades expands our footprint into new markets, enabling us to establish operations in Alberta, Manitoba and Saskatchewan. Barricades also brings to our group additional product lines, further expanding our one-stop-shop capabilities for all our customers’ needs. We are excited to welcome [Bruggen] and the Barricades team as we combine our expertise and drive forward our overall strategic plan.”
CAI’s equity co-investment partners in the combined organization include BDC Capital, Roynat Equity Partners and Frind Enterprises. Debt financing for the transaction was provided by Bank of Montreal, Canadian Imperial Bank of Commerce, The Bank of Nova Scotia and National Bank Financial. Universal was advised on the transaction by Lawson Lundell LLP (legal), MNP LLP (tax), Marsh Canada Limited (insurance) and HUB International Limited (benefits).
PHOTO: Barricades and Signs