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July 30, 2012
Woodbridge International is pleased to announce the recapitalization of its client, Surface Preparation Technologies, Inc. (SPT), by L2 Capital, a private equity firm.
SPT is a Mechanicsburg, PA-based contractor and manufacturer specializing in rumble strip installations on roads and highways. Founded in 1988, the Company was instrumental in bringing the benefits of rumble strips to the attention of transportation officials throughout the U.S. Currently all 50 states, the Canadian Provinces, and several countries overseas are successfully using rumble strips.
A unique type of construction contractor, SPT manufactures the equipment it uses for road rumble stripping.
Based in Radnor, PA, L2 Capital Partners is a private equity family office that specializes in making equity investments up to $15 million in lower-middle market manufacturing, distribution and service companies. L2 Capital was formed to fill an under-served niche of companies seeking to move to the next level or stage in their development.
H. Matt Johnson, owner of SPT said of the deal, “Benefiting from access to substantial growth equity, SPT will strengthen its position as an industry-leading supplier of rumble strips across the U.S. and expand into international markets.”