Site 20/20 Announces Strategic Growth Investment from New Mountain Capital and Energy Impact Partners
12 Agosto 2024 - 1:00PM
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.
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“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.
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For more information about Site 20/20 and this strategic
investment, please contact:
Brian Covert Communications Manager, Site 20/20
bcovert@site2020.com 902 719-7517
Dana Gorman H/Advisors Abernathy, for New Mountain
Capital dana.gorman@h-advisors.global 646 784-0446
Dhana Warnecke Investor Relations, Energy Impact Partners
warnecke@energyimpactpartners.com 929 575-3443