Kirkland & Ellis has advised Bain Capital Private Equity in its definitive agreement to acquire Frontline Road Safety, a leading provider of pavement marking services in the United States, from the Sterling Group. This investment, led by Bain Capital’s Private Equity team, highlights the firm’s extensive expertise in investing in industrial enterprises, with a strong track record as one of the most active investors in the U.S. and internationally. The financial details of this private transaction remain undisclosed.
“Since launching the Frontline platform in 2020, Sterling has been proud to support the Company’s tremendous growth and expansion,” said Brad Staller, Partner at Sterling. “We would like to thank Mitch and the entire Frontline team for their leadership and partnership in building Frontline. We believe the Company remains well-positioned to continue expanding its services and geographic footprint.”
The acquisition marks an important step in Frontline’s growth strategy. Mitch Williams, the CEO of Frontline Road Safety, commented, “We have reached an inflection point in our evolution as a leading platform for road safety solutions. We believe Bain Capital, with its proven track record of building true market leaders in services and distribution, is the right partner to enable us to accelerate our growth and support the value we deliver to our partners at DOT and large private construction contractors.”
Williams continued, “With Bain Capital’s strategic and operational support, coupled with a shared vision for our long-term growth strategy, we are well-positioned to leverage our local expertise and scale benefits, continue investing in our people and services, and build upon our platform to better meet the growing demand for infrastructure improvements across the U.S. We thank the Sterling team for their partnership and look forward to our next chapter of growth.”
Joe Robbins, a Partner at Bain Capital, added, “Frontline is a high-quality business providing mission-critical services, led by a proven management team that has done an impressive job of growing the business through a series of acquisitions and organically, while maintaining a commitment to operational excellence. We look forward to a collaborative partnership with Mitch and his talented team to help accelerate Frontline’s acquisition strategy and scale the Company’s best-in-class platform. We believe the Company is well-positioned to continue growing its footprint, while providing differentiated value-added service to its customers.”
Harris Williams LLC and Guggenheim Securities, LLC are serving as financial advisors to Frontline Road Safety, with Latham & Watkins LLP acting as legal advisor. Stifel and UBS Investment Bank are serving as financial advisors to Bain Capital, with Kirkland & Ellis LLP acting as their legal advisor.
The Kirkland team included corporate attorneys Chris Thomas, Alex Romano, and Lauren Fiotakis, debt finance attorneys Melissa Hutson and Yuli Wang, and tax attorneys Mike Carew and Christine Lehman.
Bain Capital Private Equity is a leading global investment firm focused on building high-quality companies across various industries. Founded in 1984, the firm partners with exceptional management teams to drive sustainable growth through a flexible, value-added approach. Bain Capital has built long-term relationships with over 900 limited partners, including endowments, foundations, pensions, financial institutions, family offices, and sovereign wealth funds. Many of these partners have invested for over a decade, reflecting Bain Capital’s proven track record of success. With a global network and deep expertise, the firm helps portfolio companies thrive and scale.
Sterling Group is a private equity firm that focuses on building and growing middle-market companies in partnership with management teams. The firm primarily invests in the industrial and chemicals sectors, leveraging its operational expertise and extensive experience to create long-term value. Sterling Group works with businesses to enhance operational efficiency, drive growth, and build leading companies. With a hands-on approach, the firm aims to accelerate the success of its portfolio companies and deliver strong returns for its investors.
Kirkland & Ellis is a global law firm recognized for its expertise in corporate law, litigation, intellectual property, and private equity. With offices across major financial hubs, the firm serves a diverse range of industries, providing innovative solutions for complex legal and business challenges. Known for its top-tier legal services, Kirkland & Ellis focuses on high-profile cases and transactions, offering clients cutting-edge strategies and deep industry insights.
