Align Capital Partners (ACP), the Shaker Heights-based private equity firm, has reportedly acquired Electronic Transaction Consultants Corporation (ETC) that offers electronic tolling technology and smart mobility software to operators and governments of inter-state tolling plazas.

Established in 1999, ETC designs software that empowers tolling agencies to electronically collect tolls and help cities to efficiently manage traffic congestion. The company provides back-office and roadside service through its modular next-generation software platform.

The software uses artificial intelligence technology and big data to meet unique transpiration and tolling needs at a lower cost to the customer. The terms and conditions of the deal were not disclosed by companies.

Speaking on the deal, Bret Kidd, CEO at ETC said that the company is looking forward to working with a growth-oriented firm that wants to invest in the company’s technology and innovative team to develop a robust Mobility-as-a-Service platform.

As toll road miles are anticipated to grow considerably in America over the next five years, ETC’s transaction and data capture technology are uniquely posited to help state and regional governments implement more efficient collection capabilities.

Rob Langley, Co-founder and Managing Partner at ACP said that ACP is actively aiming for the state and regional government technology space, ETC acquisition offers exciting growth opportunities in an attractive market.

Mr. Langley added that the company caters to some of the largest government tolling agencies in America and is well-positioned and well-capitalized to leverage its technology suite for forthcoming projects.

Vice President Matt Iodice, Associate Hannah Dickey, and Operating Partner Dave Perotti along with Mr. Langley have been working on the transaction.

ETC deal represents ACP’s 12th investment in this year. JD Merit & Company, an affiliate of CDI Global caters to ETC as the adviser on the transaction. On the other hand, McGuireWoods LLP and Capstone Headwaters cater to ACP as legal and financial advisers of the deal respectively.

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