Arcapita acquires US firm for $100m
MUSCAT: Arcapita, the global investment firm, announced it has acquired a controlling interest in MC Sign Company, a leading nationwide provider of signage and lighting services in the United States, for a value in excess of $100 million.
“We are excited to complete a US private equity transaction and pleased to partner with the management team at MC Sign to help grow the company’s suite of services and customer base. MC Sign is led by a very experienced team of professionals who have grown the business considerably over the past few years, and we believe the company is well positioned to acquire market share in a highly fragmented industry that is dominated by locallyfocused, sub-scale service providers. Over 75 per cent of MC Sign’s customers are blue chip companies with a national presence, and attesting to the company’s value proposition, MC Sign has averaged an industry-leading customer retention rate of 99 per cent since 2012,” said Atif A Abdulmalik, chief executive officer of Arcapita. the repeat nature of customer demand, MC Signs also benefits from a sizable and growing recurring revenue base. We are excited to bring this opportunity to our investors and are optimistic about the company’s growth prospects,” stated Martin Tan, chief investment officer of Arcapita.
Founded in 1953, MC Sign provides signage and lighting services to customers across the US through a highly-scalable, vendor-managed and asset-light business model.
The company’s customer base is comprised of nationally recognised blue chip companies in the retail, banking, hospitality, quick service restaurant and petroleum/C-store segments across the United States and Canada. MC Sign has over 275 customers, many of whom have been with the company for over a decade.