TORONTO—March. 3, 2021 – The Investment Management Corporation of Ontario (“IMCO”) has closed its co-investment alongside strategic partner Kohlberg & Company LLC (“Kohlberg”) in the acquisition of Area Wide Protective Inc. (“AWP”). AWP is the market leading provider of temporary traffic safety management services in the United States. Terms of the transaction were not disclosed.

“We are pleased to participate in the acquisition of AWP,” said Craig Ferguson, Managing Director, Private Equity, IMCO. “AWP is the North American leader in traffic control, and we look forward to partnering with Kohlberg as it executes AWP’s growth plan.”

This is IMCO’s second co-investment alongside Kohlberg since entering in a strategic partnership with the firm in 2020. IMCO’s Private Equity portfolio is expected to grow to $6 billion or more by 2025. IMCO differentiates itself through a fundamental approach to underwriting and focuses on the middle-market buyout segment globally.

“IMCO’s co-investment with Kohlberg demonstrates the complementary nature of our strategic partnership,” said Ferguson. “Kohlberg’s proven track record in the infrastructure services space, together with IMCO’s desired exposure to the sector’s strong and stable growth proved successful in the acquisition of AWP.”