Vance Street Capital Acquires Carmanah Technologies, Expanding Its Pedestrian and Traffic Safety Platform

Carmanah’s complementary product and technology offering expands the platform’s offering to “away from intersection” pedestrian and traffic safety solutions.

LOS ANGELES, May 3, 2022 /PRNewswire/ — Vance Street Capital (“Vance Street”), a Los Angeles private equity-based company, today announced the acquisition of Carmanah Technologies Corp (“Carmanah” or the “Company”), a leader in solar LED traffic and pedestrian safety technology “away from intersections “. Carmanah, as well as Polara Enterprises (“Polara”), with which Vance Street has partnered to December 2021, will together form the Vance Street Road and Pedestrian Safety ITS Platform. Vance Street plans to invest in both Carmanah and Polara’s organic product development initiatives as well as complementary mergers and acquisitions to further support the Vision Zero movement to eliminate traffic-related deaths in providing a holistic product and technology solution to municipalities and DoTs.

Situated at Victoria, BCCarmanah is a leading designer and manufacturer of compliant solar and AC powered systems for pedestrian and traffic safety across North America. Since 1999, Carmanah has been developing innovative, MUTCD-compliant “Away from the Intersection” security solutions that deliver cost savings while ensuring environmental sensitivities. The company designs systems for a variety of applications, including mid-block crosswalks, school zones, traffic calming and general hazard marking.

“Polara is thrilled to see Vance Street Capital add another ‘Best in Class’ company to its traffic platform,” said John McGaffey, President of Polara. “Over the past 10+ years, Polara has had a strong relationship with Carmanah and now looks forward to working more closely with Carmanah to provide the best pedestrian safety and ITS solutions that will help achieve Vision Zero goals. “

“It’s an exciting day for Carmanah as we enter a new chapter,” said Geoff Wilcox, President and CEO of Carmanah. “Vance Street’s commitment to developing an ITS platform for traffic and pedestrian safety aligns with our belief in the growth of the pedestrian and driver safety market. It kicks off an exciting new phase for us that will propel greater opportunities and the development of our critical security products. “

“We are thrilled to partner with Team Carmanah to support their next phase of growth in pedestrian and traffic safety,” said Steve Sandbo, partner at Vance Street. “Forming this platform with Polara and Carmanah is a great example of Vance Street’s strategy of supporting top management teams through investments to accelerate their technology and product innovation to deliver the best solution offerings for critical security applications.

Harris Williams and Paul Hastings LLP acted as financial and legal advisors to Vance Street Capital and Polara. Fort Capital Partners acted as financial advisor to Carmanah while Borden Ladner Gervais LLP acted as legal advisor. Debt financing for the transaction was provided by Global Private Credit of Barings. Terms of the transaction were not disclosed.

About Vance Street Capital LLC

Vance Street Capital is a middle-market private equity firm focused on investing in highly technical solutions companies in the industrial technology, medical, life sciences, aerospace and technology sectors. defense. For more than two decades, Vance Street partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information, please visit: www.vancestreetcapital.com.

CONTACT:
Brian Martin
Managing Partner
[email protected]

Steve Sandbo
Partner
[email protected]

SOURCE Vance Street Capital

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