Vancouver, BC – March 5, 2025 – CAI Capital Partners (“CAI”) is pleased to announce that its portfolio company, the Universal Group (“Universal”), through its subsidiary Barricades and Signs Ltd. (“Barricades”) has successfully closed the acquisition of Airmaster Sales Ltd. (“Airmaster”).
Since the 1980s, Airmaster, based in Winnipeg, Manitoba, has built a strong reputation for manufacturing high quality traffic control signs and products for clients spanning across Manitoba and Saskatchewan.
“After acquiring Barricades and Signs in December 2024, we are excited that the Universal Group, through Barricades, has acquired Airmaster.” Said Mike Menzies, CEO of the Universal Group. “Airmaster has built a well-recognized and leading brand in Manitoba and Saskatchewan based on family values under the great leadership of Liz, Quentin, and Keith MacCharles. Their business fits very well with Barricades and Signs’ current product and service offerings and expands our capabilities to be more reactive to our combined clients. We look forward to Airmaster and Barricades coming together and the tremendous opportunities for our combined team.”
Airmaster’s production facility in Winnipeg will enhance local signage manufacturing capabilities for Barricades. Liz, Quentin, and Keith MacCharles will remain involved through the transition.
CAI’s equity co-investment partners in the combined organization include BDC Capital, Roynat Equity Partners and Frind Enterprises. Universal was advised on the transaction by Lawson Lundell LLP (legal), and Marsh Canada Limited (insurance).
About Universal Group
Universal is the largest traffic management and control services provider in Canada. Universal provides traffic control personnel, lane closure services, traffic control equipment, traffic management plans, road maintenance and other services. The company is headquartered in Langley, British Columbia with locations across Canada and the Pacific Northwest of the United States. For additional information, please visit www.theuniversalgroup.ca.
About Barricades and Signs
Barricades is a leading traffic control provider in Alberta, British Columbia, Manitoba and Saskatchewan, providing traffic equipment sales and rentals, sign manufacturing, crash cushions, and steel barriers and guardrails. The company is headquartered near Edmonton, Alberta. www.getbarricades.com
About Airmaster Signs
Airmaster Signs is a leading manufacturer of high quality traffic control signage and products serving communities across Manitoba and Saskatchewan. The company is headquartered in Winnipeg, Manitoba. https://www.airmastersigns.com/
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian and US lower middle market. Over more than three decades, CAI has invested over C$1.6 billion of equity capital into companies across North America. For additional information, please visit www.caifunds.com.
For further information please contact:
Curtis Johansson
Partner, CAI Capital Partners
604-694-2527
Date: March 05, 2025
