Trench Plate Rental, a supplier of trench safety and traffic control solutions, has entered into a definitive agreement to be acquired by funds managed by the Power Opportunities Group of Oaktree Capital Management. TPR’s existing management team will continue to serve in the same capacity and has partnered with Oaktree to further expand the company’s product and service offering and geographic footprint. The transaction is expected to close in the fourth quarter. Financial terms were not disclosed.
Founded in 1978, TPR, based in Downey, Calif., provides trench plates, boxes, shoring equipment, traffic control message boards and barriers to utilities and contractors engaged in maintaining, upgrading and replacing aging infrastructure.
Trench Plate Rental has 22 branch locations.
“We are excited to begin our partnership with Oaktree,” said Graeme Gilfillan, president and CEO of Trench Plate Rental. “With the addition of Oaktree’s strategic resources, industry relationships and capital, TPR will be well-positioned to continue improving the quality of its products and services for the benefit of both existing and new customers.”
“TPR has earned an outstanding reputation in the trench shoring industry, holding the safety of its customers’ workers as its highest priority,” said Michael Cardito, managing director and co-portfolio manager of Oaktree’s Power Opportunities Group. “We are excited to partner with Graeme and the TPR team to help the company grow both organically and via targeted acquisitions.”
In addition to the rental of trench safety equipment, TPR owns Quik-Shor Manufacturing, which manufactures several trench-shoring products.
