Vancouver, BC – December 10, 2024 – 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, Alberta, 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 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, Jan 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 Jan van Bruggen, CEO of Barricades and Signs. “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 Canada’s preeminent provider 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 Jan 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).
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 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: December 10, 2024