Traffic Safety Titans Unite: Cortina and Plasticade Merge Under Radial

CHICAGO, IL – January 16, 2026 – In a significant move set to reshape the North American traffic safety landscape, private equity firm Radial Equity Partners has acquired Cortina Tool & Molding Co. and will merge it with its existing portfolio company, Plasticade. The deal, for which D.A. Davidson & Co. served as the exclusive financial advisor to Cortina, unites two of the industry's most prominent brands, creating a formidable entity poised to capitalize on surging infrastructure spending and a heightened focus on road and work zone safety.

This strategic consolidation brings together Cortina, a family-founded leader in injection and blow-molded products, with Plasticade, a veteran manufacturer known for its extensive line of traffic control devices and signage. The combined company will offer one of the most comprehensive product portfolios in the sector, spanning from traffic drums and delineators to barricades and advanced signage solutions.

Jeffrey Giannelli, President of Cortina and a second-generation member of the founding family, expressed strong support for the transaction. “We are thrilled to partner with Plasticade and Radial and are confident that our shared vision positions the combined group for continued success,” he commented. The Giannelli family will retain an ownership stake in the newly formed company, signaling their confidence in its future trajectory.

A Strategic Consolidation in a Growing Market

The merger is being hailed as a highly complementary union. Cortina, founded in 1969, has carved out a niche as a preeminent supplier of custom and proprietary molded safety products, including emergency kits, parking aids, drums, and barricades, with a strong presence across North and Latin America. Its manufacturing expertise in injection, extrusion, and blow molding has made it a go-to partner for specialized safety equipment.

Meanwhile, Plasticade, established in 1954, boasts a broad catalog of its own, featuring traffic channelizers, speed bumps, and a wide array of signage. The company is particularly noted for its MASH-approved roadway work zone products, which meet rigorous federal safety standards, and its recent expansion through the acquisition of crowd-control specialist Mr. Chain. David Foy, President of Plasticade, noted the merger would result in an expanded product offering and enhanced manufacturing capabilities, accelerating the mission to deliver innovative products to customers.

The combined entity will be led by a team of seasoned industry veterans. Matt Soule, a Senior Advisor at Radial and former CEO of global road safety giant Ennis-Flint, has been appointed interim Chief Executive Officer. He is joined by Keith Kelble as Chief Operating Officer, while both Giannelli and Foy will continue in their roles as presidents of their respective brands, ensuring leadership continuity and preserving the brand equity each company has built over decades.

Riding the Wave of Infrastructure and Safety Demands

This merger arrives at a pivotal moment for the traffic safety industry. The global market is experiencing robust growth, with some projections forecasting a compound annual growth rate (CAGR) of over 7% to reach nearly $29 billion by 2030. This expansion is fueled by several powerful tailwinds.

Chief among them is a global surge in infrastructure development. In the United States, increased highway construction spending, which saw an 8.3% rise in 2023, continues to drive demand for work zone safety equipment. Furthermore, a renewed governmental focus on reducing road fatalities, exemplified by initiatives like the Vision Zero program adopted by over 40 U.S. cities, is mandating stricter safety protocols and the deployment of more effective traffic control measures.

Worker safety has also become a critical driver. With hundreds of fatalities occurring in work zone crashes annually, there is immense pressure on contractors and public agencies to implement better protection for road crews. This has spurred demand not only for traditional barriers and cones but also for next-generation smart safety systems. The market is rapidly evolving to include IoT-enabled devices, such as smart cones with integrated sensors and LED lights that can provide real-time alerts to workers and drivers. The combined resources and expertise of Cortina and Plasticade position the new entity to be a leader in this technological evolution.

The Private Equity Playbook: Radial's Vision for Growth

The acquisition and merger fit squarely within the strategic playbook of Radial Equity Partners. Spun out of Irving Place Capital in 2020, Radial focuses on middle-market industrial and consumer companies, employing a strategy of accelerating growth through operational enhancements and strategic add-on acquisitions. The firm's combination of Cortina and Plasticade is a classic example of creating value by building a larger, more competitive platform.

“We are excited to partner with the Plasticade team to build upon the company’s strong foundation and accelerate its growth and innovation,” said Keith Zadourian, a Partner at Radial. He emphasized the goal of creating a market leader through the combination of two powerful brands.

Interim CEO Matt Soule articulated a vision for leveraging the strengths of both companies while preserving their individual identities. He stated the merger presents an opportunity for “accelerated growth while maintaining two independent brands,” a strategy intended to “unlock new opportunities that benefit our customers, employees, and all other stakeholders.” This approach aims to prevent brand dilution while creating synergies in manufacturing, supply chain, and research and development.

D.A. Davidson's Momentum in Industrial M&A

Facilitating this landmark transaction was D.A. Davidson & Co., which acted as the exclusive financial advisor to Cortina. The deal highlights the continued success and growing influence of the firm’s Diversified Industrials Investment Banking Group, which has become a key player in middle-market mergers and acquisitions.

“The Giannelli family built an incredible business,” stated Eric Stetler, Managing Director and Head of Diversified Industrials and M&A at D.A. Davidson. “We appreciated the opportunity to work with Cortina on this important transaction and look forward to seeing the Company’s continued success alongside Plasticade.”

The Cortina sale is the latest in a series of high-profile industrial deals advised by D.A. Davidson. The group has recently managed transactions such as Celestar Holdings Corporation’s sale to Bart & Associates and Alamo Group Inc.’s acquisition of Petersen Industries. This consistent deal flow, totaling 19 transactions with an aggregate value of $1.5 billion, underscores the firm's deep expertise and established momentum in navigating complex industrial M&A processes for privately held and family-owned businesses.

As Cortina and Plasticade begin their new chapter together, the combined company stands as a testament to strategic consolidation, well-positioned to lead a market defined by increasing safety demands and technological transformation.