True North Mergers & Acquisitions Facilitates Acquisition of AAA Striping Services by Road Safety Services
MINNEAPOLIS – March 31, 2022 – True North Mergers & Acquisitions Managing Director Erica Gilson announced today that Road Safety Services of Omaha, Nebraska has purchased AAA Striping Services of St. Michael, Minnesota. The transaction closed on December 30, 2021.
Road Safety Services, a portfolio company of Parallel49 Equity, is a leading provider of a diverse set of pavement-marking and other road safety-related services. The company’s services are required by law and help drive safe passage along America’s roadways. The company operates in 11 states serving a variety of customers, including state departments of transportation, municipalities, general contractors, and private companies.
AAA Striping Services has provided road-striping and pavement-marking services to its government and general contractor customers since 1957. The business operates throughout Minnesota and western Wisconsin. AAA is the largest striping company in the Minnesota marketplace. The business provides all striping services using the most modern technologies for new construction as well as traditional paint line replacement for state, county, and municipal customers. The company also acts as a subcontractor to general contractors involved in large state-sponsored highway construction projects.
All AAA Striping Services employees—approximately 40—have been retained in the transaction.
“There was substantial interest from strategic and financial buyers,” said Advisor Dan Mulvaney. “In the end, AAA’s owners decided a strategic buyer was the best fit for the future business. The RSS team’s industry knowledge, straight talk and timely delivery were an excellent fit with AAA’s communication style and expectations.”
“We appreciate True North M&A’s process, and Dan Mulvaney’s advice was outstanding,” said AAA Owner Bruce Shirley. “Dan handled today’s issues and was looking out for tomorrow’s, too. He worked seamlessly with our law and accounting firms. He had our best interests in mind.”