US private equity Align Capital Partners, based in Cleveland and Dallas, acquired 64.5% of the share capital of the Electronic Transaction Consultants Corporation previously controlled by Milan-listed infrastructure group Atlantia last August (see here ETC’s press release and here Align Capital’s). JD Merit & Company, a subsidiary of CDI Global and CDI Global Italy based in Milan, assisted ETC in the transaction. The fund was instead assisted on the legal level by McGuireWoods and by Capstone Headwaters on the financing front.
Founded in 1999, ETC is headquartered in Texas and is a software and service provider of electronic toll technology and smart mobility solutions. The company serves some of the largest government toll agencies in the United States. Mediobanca Securities has valued the equity of ETC 297 million dollars.
“Today marks a milestone for our company, our employees and our customers,” said Bret Kidd, ceo of ETC. “We have already established ourselves as revolutionary leaders in areas where tolls and mobility intersect. With ACP as our financial and strategic partner, we will take ETC to the next level by providing unprecedented customer service and even more industry-leading solutions to improve mobility of our fellow citizens “.
“ETC sets the standard for the best mobility solutions and services,” said Robert Langley, managing partner and co-founder of ACP, adding: “We are excited to partner with this innovative and talented company to expand its customer base and service offering to make an even greater impact in this dynamic and growing industry.”