Pharus Advisors acted as exclusive financial advisor to Republic ITS, Inc. in its sale to Alinda Capital Partners, a $3 billion private equity firm focusing on providing infrastructure capital to businesses, governments, and communities. Terms of the deal were not disclosed, however, the transaction provided Republic ITS with ample capital needed to build out its core capabilities and further its roll-up strategies domestically across the United States and internationally. The industry leading management team will stay with the business with a member of the private equity team joining the Board.
Republic ITS is the industry leading provider of intelligent transportation services including privatized traffic signal and streetlight maintenance services, transportation engineering and other public works for public agencies. Recent activities such as the recent $286.4 billion federal transportation bill, emphasis on Homeland Security, government agencies under pressure to cut costs and gain efficiencies, and advancements in ITS technology and infrastructure, have suggested that ITS is a billion dollar market growing at 20% annually. The Company’s management team had proven its capabilities by delivering unparallel financial and operational performance and is well-regarded within its industry. Pharus has the pleasure to help the management team realized some of its milestones and participate in its effort to move Republic ITS into a new phase.