Olympus Partners, a Stamford, Connecticut-based private equity firm, today announced its acquisition of a majority interest in Ennis-Flint.
"Ennis-Flint is a market leader that is well-positioned to capitalise on increasing global investments in traffic safety," said Dave Cardenas, Partner at Olympus. "We are excited to invest in the company and look forward to working alongside Steve Vetter, Matt Soule and the rest of the highly experienced management team. We will continue to support the company’s long history of growth through additional internal investment as well as through strategic acquisitions."
As the world leader in pavement markings and traffic safety solutions for a diverse customer base of private contractors, government agencies and independent distributors, Ennis-Flint supplies a wide range of products including: traffic paint, hot-applied and preformed thermoplastic, plural components, raised pavement markers and intelligent transportation systems from a network of 20 manufacturing facilities on four continents. Ennis-Flint’s corporate headquarters will remain in Thomasville, North Carolina.
Steve Vetter, CEO of Ennis-Flint, said, "We are happy to partner with Olympus and believe they are ideally positioned to support our next phase of growth and development. We look forward to working with them as we continue to focus on providing traffic safety solutions that create value for our global customers."
Brazos Private Equity Partners, a Dallas-based firm, will no longer be a shareholder in the company. "Ennis-Flint highly values the collaboration we have had with the Brazos team for many years," said Steve Vetter. "Their focus on operational improvement was well suited to our company’s needs as we worked to expand our platform and achieve several key corporate development initiatives. We thank Brazos for its guidance and commitment to our company, and we look forward to building upon the Company’s success to date in our new partnership with Olympus Partners."