Area Wide Protective, a utility services firm, has been acquired by Kohlberg & Company, LLC, a New York-based private equity firm. Terms of the deal were not disclosed.
Headquartered in North Canton, Ohio, AWP provides comprehensive traffic control and safety services to electric and gas utilities as well as to telecommunications and infrastructure customers. With over 5,000 employees in more than 110 facilities across 21 states and eastern Canada, AWP helps direct or re-route traffic in support of infrastructure maintenance, repair, or construction projects affecting public roads. AWP delivers a turnkey solution, providing on-site technicians, equipment and vehicles, in addition to permitting and design services.
In conjunction with the transaction closing, John Sypek, who led AWP as CEO since 2012, has retired from executive duties but remains with the Company as Vice Chairman, while Ron Childress has been named the Company's Chairman and Chief Executive Officer. Ron joins AWP following a 30-year career at Osmose Utilities Services, where he most recently served as Chief Executive Officer.
Houlihan Lokey and KeyBanc Capital Markets served as financial advisers and Ropes & Gray LLP served as legal counsel to Kohlberg.
