GreenArrow buys three US transportation technology businesses

GreenArrow, a portfolio company of CAI Capital Partners, has acquired three transportation technology businesses, PE Hub reported. The purchases add companies involved in transportation products, electrical services for road and aviation infrastructure, and intelligent transportation systems.

The acquired companies are The Narwhal Group, HBC Company and Atlantic Transportation Systems, according to PE Hub. Financial terms, ownership percentages and closing dates were not included in the publicly available details of the report.

The Narwhal Group is based in Salt Lake City, Utah, and provides transportation-related products and services, PE Hub reported. The description places the company in a segment that serves the systems and equipment used by public and private operators of transportation networks.

HBC Company operates from Lodi, New Jersey, according to PE Hub. The company provides electrical services for highway and intersection lighting, intelligent transportation systems and aviation lighting.

Atlantic Transportation Systems is based in Carlisle, Pennsylvania, PE Hub reported. The business focuses on installing and maintaining traffic signals, streetlights and intelligent transportation systems.

Deal context

The acquisitions broaden GreenArrow’s roster of businesses serving transport infrastructure, based on the company descriptions reported by PE Hub. Intelligent transportation systems typically refer to technologies used to monitor, control or improve traffic flows and transport assets, including systems connected to signals, lighting and roadway operations.

For private equity-backed platforms, acquisitions of operating businesses can be used to add geography, technical capabilities or customer relationships. PE Hub identified CAI Capital Partners as GreenArrow’s backer, but did not provide additional details on the investment structure in the available report.

The deal comes amid continued investor attention on businesses tied to transportation infrastructure and maintenance, where demand is often linked to public-sector budgets, safety requirements and the modernization of road networks. PE Hub did not report any revenue, employee count or customer figures for the three acquired companies.

This story draws on original reporting from PE Hub.