Phoenix Business Journal
June 10, 2010
- A d v e r t i s e m e n t
American Traffic Solutions Inc. is getting an investment boost from Goldman Sachs Group Inc. to help it meet increasing demand for its red-light and speed cameras.
Although neither company would disclose the amount of the investment, ATS President James Tuton said it was a “significant” amount that will net the former investment house, now a bank holding company, two seats on the private Scottsdale company’s seven-member board.
The funds will help ATS keep pace with its rapid growth, which has been clocked at 83 percent over the past 18 months. The company has been funding its own operations until now, primarily through cash flow or financing, said Adam Draizin, executive vice president and chief financial officer.
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