Automated toll payment company Highway Toll Administration has been acquired by Platinum Equity.
Miami-based David and Leila Centner sold their stake in Highway Toll Administration; David Centner will continue to hold a minority share in the company.
As part of the investment, HTA will combine with fleet services company American Traffic Solutions, which is Platinum’s portfolio company. This will enable them to process tolls from around 7 million vehicles annually. The combined company will be run by ATS CEO David Roberts.
Through the acquisition, Platinum hopes to strengthen the ATS solution by utilising both company’s skills.
Founded in 2002, HTA provides fleet operators and rental car companies across North America with electronic toll collection and violation management software. The platform supports billing, customer services, reporting and dispute resolution for tolls. The end-to-end toll payment platform helps to calculate all tolls and match them with the relevant vehicle.
Arizona-based ATS is a road safety camera and toll and violations management company for North America. The company helps fleet drives to access electronic payment tolls, while also taking care of reporting and the payment processing.
Platinum Equity Partner Jacob Kotzubei said, “We see tremendous opportunity in fleet and rental car toll and violation management, and the addition of HTA creates an even stronger platform for growth. We are making good on our promise to help ATS maximize its potential and will continue seeking new ways to expand the company’s product offering and footprint.”
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