Align Capital Partners (“ACP”) has acquired Electronic Transaction Consultants Corporation (“ETC” or the “Company”) from Italian parent company Atlantia SpA. Headquartered in Richardson, TX, ETC is an industry-leading software and services provider of electronic tolling technology and smart mobility solutions.
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“As toll road miles are expected to grow significantly in the U.S. over the next five years, ETC’s data capture and transaction processing technology is uniquely positioned to help state and local governments implement more efficient collection capabilities.”
Founded in 1999, ETC serves electronic tolling agencies by providing back office and roadside services through its next-generation, modular software platform. The Company’s proprietary software utilizes artificial intelligence (“AI”) technology and big data to meet unique tolling and transportation needs at a lower cost to the customer.
“We are looking forward to working with a growth-oriented partner who wants to further invest in our technology and innovative team to create a more robust Mobility-as-a-Service platform,” said Bret Kidd, CEO of ETC. “As toll road miles are expected to grow significantly in the U.S. over the next five years, ETC’s data capture and transaction processing technology is uniquely positioned to help state and local governments implement more efficient collection capabilities.”
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“ACP is proactively targeting the state and local government technology space, and ETC is an exciting growth opportunity in an attractive market. The Company serves some of the largest government tolling agencies in the U.S. and is well-capitalized and positioned to leverage its technology suite for new projects,” said Rob Langley, ACP Managing Partner and Co-Founder.
Operating Partner Dave Perotti, Vice President Matt Iodice and Associate Hannah Dickey worked alongside Mr. Langley on the transaction. ETC represents ACP’s fourth platform and 12th overall investment in 2020. ETC was advised on the transaction by JD Merit & Company, an affiliate of CDI Global. ACP received legal counsel from McGuireWoods LLP and Capstone Headwaters advised on the financing.
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