Race Rock Infrastructure Announces Acquisition of Highway Safety Corporation and Ohio Galvanizing Corporation

HOUSTON–(BUSINESS WIRE)–Race Rock Infrastructure (Race Rock), a Houston, TX based manufacturer of critical infrastructure products and solutions for transportation, energy transmission/distribution, telecommunications, and other end markets, has acquired Highway Safety LLC (formerly known as Highway Safety Corporation) (HSC) and Ohio Galvanizing LLC (formerly known as Ohio Galvanizing Corporation) (OGC). HSC and OGC join Fort Worth, TX based Structural and Steel Products (SSP), a leading manufacturer and distributor of engineered poles, sign structures, and highway safety products, in Race Rock’s portfolio of businesses.

HSC, a premier provider of guardrail, bridge rail, and solar panel support structures, was founded in 1978 by W. Patric Gregory III in Glastonbury, CT. In 1994, Mr. Gregory expanded operations to Marion, OH, to better serve the company’s nationwide customer base with additional metal fabrication and galvanizing services with the creation of Ohio Galvanizing Corporation. Following the transaction, Mr. Gregory will remain as President of HSC and OGC and join the Board of Directors of Race Rock.

Donald W. Young, Chairman and CEO of Race Rock Infrastructure, commented, “We are thrilled to partner with Patric Gregory and the talented people at HSC and OGC and support them in their continued growth. HSC and OGC fit well with our broader infrastructure strategy and provide increased scope and scale to our existing lines of business to further support critical infrastructure buildout in the United States.”

W. Patric Gregory III, founder of HSC and OGC, added, “Getting to know the team at Race Rock and SSP over the last six months, it became clear to me that they are the ideal partner for the business I’ve spent the last 40 years building. Our shared values of providing a quality product in a timely manner with an emphasis on customer service and environmentally sustainable operations makes this a natural next step in HSC and OGC’s journey. I’m excited for the future of our combined businesses.”

Race Rock Infrastructure funded the transaction with a combination of debt and equity capital. Debt financing was provided by a syndicate led by Woodforest National Bank. Locke Lord LLP acted as the legal advisor to Race Rock. Sperry Mitchell & Company served as the seller’s advisor on the transaction.

Contacts

Andrea Bryan

(832) 920-1276

abryan@racerockgroup.com