Align Capital Acquires Transportation Tech Company to Speed Scale, Mobility Solutions

Richardson-based Electronic Transaction Consultants Corporation (ETC), a technology solutions provider for the mobility and transportation industries, has been acquired by Align Capital Partners, the companies announced today.

Align Capital Partners, which has offices in Dallas and Cleveland, acquired ETC from Italian parent company Atlantia SpA. The financial terms of the transaction were not disclosed.

Founded in 1999, ETC is focused on smart mobility solutions that use artificial intelligence tech and data to meet tolling and transportation needs.

The company processes 2 billion transactions and $3 billion in revenue through its software and services in the toll industry annually. ETC, which claims “three of the top 15 toll authorities in the United States,” counts the NTTA in North Texas as a customer.

Tolling is a growth area, according to Bret Kidd, CEO of ETC, who said “toll road miles are expected to grow significantly in the U.S. over the next five years.” The company is “uniquely positioned” to help governments with more efficient collection of tolls through its data capture and transaction processing tech, he said in a statement.

Robert Langley, who led the deal as managing partner and co-founder of Align Capital Partners, sees ETC as an exciting growth opportunity in an attractive market. The private equity firm is “proactively targeting the state and local government technology space” and notes ETC serves some of the largest government tolling agencies in the U.S., he said.

Align Capital Partners, which invests in business-to-business companies positioned for growth in niche markets, will help the transportation innovator expand into adjacent markets, the company said. Align Capital, noting ETC’s mobility-focused product called riteSuite, plans to leverage the company’s technology suite for new projects.

CEO Kidd said the acquisition is a milestone for ETC.

“We’ve already established ourselves as a revolutionary leader in the areas where tolling and mobility intersect,” Kidd said. With Align Capital Partners as a new strategic and financial partner, the company aims to take its growth to the next level, he said.

The company has services that span toll management to urban mobility solutions to back office platforms. It plans to extend into markets where mobility-as-a-service and intelligent transportation systems merge, Kidd said.

Align’s Langley sees ETC as a standard-bearer for best-in-class mobility solutions and service. “We’re excited to partner with this talented and innovative company to expand its customer base and service offering to make an even greater impact in this dynamic and growing industry,” he said.

As part of the transaction, ETC will change its corporate name from Electronic Transactions Consultants Corporation to Electronic Transactions Consultants LLC.

ETC is Align Capital Partner’s 12th overall investment this year and its fourth platform, according to the firm. The private equity firm manages $775 million in committed capital with investment teams in Dallas and Cleveland. With a focus on the technology, business services, specialty manufacturing/distribution, and healthcare sectors, the private equity firm makes control investments in lower-middle market and differentiated companies to accelerate their growth.

Working alongside Langley on the deal were Align Capital Partners’ Operating Partner Dave Perotti, Vice President Matt Iodice, and Associate Hannah Dickey. Perotti and Dickey are based in Dallas, and the closing of ETC marks Hannah’s first platform close at the firm.

JD Merit & Company, an affiliate of CDI Global, advised ETC and Align Capital Partners received legal counsel from McGuireWoods LLP. Capstone Headwaters advised on the financing.