DARTMOUTH, Nova Scotia--(BUSINESS WIRE)--Site 20/20, a leading technology company in traffic control and road safety, today announced a new strategic growth investment from New Mountain Capital and Energy Impact Partners (“EIP”). The funding will be used to accelerate the company's investment in technological development, artificial intelligence capabilities, and new product offerings.
“We are in the early stages of our journey in realizing the full potential of what this company can be,” said Site 20/20 CEO Mitch Hollohan. “This strategic growth investment will help accelerate this process and we are honoured to partner with like-minded investors in New Mountain and Energy Impact Partners that share our vision and will support us moving forward.”
Founded by Hollohan in 2015, Site 20/20 quickly established itself as a technology leader in roadside safety with the introduction of the first-of-its-kind Guardian SmartFlagger AFAD (Automated Flagger Assistance Device). Using remote and automated technology, the Guardian SmartFlagger makes roadside projects safer for both workers and drivers, while making traffic control more cost efficient for operators.
“Mitch and his team have developed an extremely impressive solution to help improve the automation, safety and reliability of outsourced traffic control services,” said Joe Walker, Managing Director at New Mountain Capital. “We are thrilled to partner with Site 20/20 and the EIP team to continue to accelerate the adoption of this technology across utility and infrastructure service providers.”
The combination of superior safety with improved cost efficiencies has garnered significant traction in the industry. With this investment, Site 20/20 will continue developing innovative technologies and products that will serve the traffic control safety market, building on the Company’s position as the industry’s technology leader while expanding its market presence.
“Site 20/20’s success driving innovation and improving safety and operations aligns closely with our core focus at EIP,” said Steven Kantowitz, Partner at EIP. “We see a lot of momentum in the underlying transmission and distribution service markets and look forward to supporting Site 20/20 in partnership with New Mountain Capital as the Company expands its offerings.”
“Technology moves rapidly and it isn’t stopping to wait for anyone,” adds Hollohan. “But where that can be seen as a challenge, it also presents a tremendous opportunity for us and our partners to take this company where we want it to go. We are excited by the continued support of our long-time shareholders, and look forward to the new partnership with New Mountain Capital and EIP.”
About Site 20/20
Site 20/20 is an award-winning, technology company, manufacturing and servicing hardware and software solutions for the traffic control and road construction industries with a mission “to make every roadway worksite safer and more efficient for everyone.”
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.
About Energy Impact Partners
Energy Impact Partners LP (EIP) is a global investor custom-built for the energy transition. EIP brings together entrepreneurs and some of the world's most forward-looking energy and industrial companies to advance innovation. With over $4 billion in assets under management, EIP invests globally across venture, growth, private equity and credit – and has a team of over 90 professionals based in its offices in New York, San Francisco, Washington D.C., Atlanta, Palm Beach, London, Cologne, Oslo and Singapore. For more information on EIP, please visit www.energyimpactpartners.com.
