LOS ANGELES, March 01, 2018 (GLOBE NEWSWIRE) -- Platinum Equity today announced the acquisition of Highway Toll Administration, LLC (HTA), a leader in electronic toll collection services and technology. HTA was acquired from Miami-based David and Leila Centner. Financial terms of the transaction were not disclosed.
HTA is combining with the Fleet Services unit of Platinum Equity portfolio company American Traffic Solutions (ATS), creating an organization that will process tolls for approximately 7 million vehicles annually. ATS has been part of Platinum Equity’s portfolio of operating companies since June 2017.
Platinum Equity Partner Jacob Kotzubei said he expects the acquisition to further strengthen ATS Fleet Services’ offering by leveraging the combined strengths of both businesses.
“We see tremendous opportunity in fleet and rental car toll and violation management, and the addition of HTA creates an even stronger platform for growth,” said Mr. Kotzubei. “We are making good on our promise to help ATS maximize its potential and will continue seeking new ways to expand the company’s product offering and footprint.”
Mr. Centner, who has served as HTA’s CEO since he founded the business more than 15 years ago, will remain a minority shareholder. Mrs. Centner served as the company’s CFO.
“We have great respect for the Centners, who broke new ground and built an organization with outstanding employees and highly innovative technology,” added Mr. Kotzubei.
Mr. Centner founded HTA in 2002 anticipating that increasingly dynamic vehicle usage and ownership would create complexities in the assignment and collection of tolls for rental cars and other fleets. The company’s proprietary electronic toll collection platform “TollKeeper” has since processed hundreds of millions of toll transactions for tens of millions of vehicles throughout the United States and Canada. HTA’s services encompass both transponder-based and license-plate-based video tolling solutions.
“This is an exciting day for HTA and will open up new possibilities for the future of the business and its customers,” said Mr. Centner. “I’m proud of the company we built and would especially like to thank our executive team and our employees. Their hard work and commitment have created a world class business that will only grow stronger by joining forces with ATS.”
Arizona-based ATS is a leading provider of road safety cameras and toll and violations management solutions throughout North America. ATS Fleet Services is a leader in both toll and violation management solutions to fleets and rental customers. ATS’s Safety business has more than 4,000 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people across the United States and Canada.
ATS CEO David Roberts, who will lead the combined company, praised the move as a great advantage for all stakeholders.
“ATS is excited about this acquisition,” said Mr. Roberts. “Bringing together these two companies provides a great opportunity for us to add value for both our customers and our shareholders. We look forward to welcoming HTA to the ATS family.”
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed more than 200 acquisitions.
About American Traffic Solutions
ATS Fleet Services is a leader in providing both Toll and Violation Management Solutions to fleets and rental customers saving them time and money. ATS Safety is proud to be the market leader in road safety camera installations in North America. ATS Safety has more than 4,000 installed school bus stop arm, red-light and speed safety cameras serving more than 30 million people. For more information, please visit: www.atsol.com or www.atsfleetsolutions.com.
About Highway Toll Administration
HTA is the leading company in its category, serving the rental car industry and other fleet operators across North America. Since its founding in 2002, HTA has developed the most comprehensive electronic toll collection and violation management solutions for fleets of all sizes. HTA’s solutions include the most respected hardware and software solutions in the industry, efficiently and reliably supporting complex billing, customer service, reporting and dispute resolution for toll and non-toll violations. HTA’s Innovation Lab is the latest in a series of initiatives that bring new products and solutions to market. For more information, please visit: www.htallc.com
About David Centner
Miami native David Centner is a successful inventor, serial entrepreneur and tech visionary, with pioneering ventures in Web development, online marketplaces and electronic toll collection. In 2002, Mr. Centner founded and self-financed Highway Toll Administration, LLC, the first and largest provider of vehicle tolling solutions in the world. Today, HTA oversees the tolling interests for approximately 4 million vehicles annually. Mr. Centner and his wife Leila have extensive philanthropic and community efforts nationally and internationally. They will be following their interests in business, technology, and education from their South Florida base.
Source: Platinum Equity