D.A. Davidson Advises Cortina Tool & Molding on Strategic Sale to Radial Equity Partners
D.A. Davidson & Co. announced that it served as the exclusive financial advisor to Cortina Tool & Molding Co., a long-established leader in traffic and work zone safety products, on its sale to Radial Equity Partners, a middle-market private equity firm focused on investing in growth-oriented industrial businesses. The transaction marks a significant milestone for Cortina, a second-generation, family-owned company that has evolved over more than five decades into a trusted supplier of essential safety infrastructure products across North America and Latin America. As part of the transaction, Radial will merge Cortina with its existing portfolio company, Plasticade, creating a combined platform that brings together two of the most recognized brands in the traffic safety products industry and positions the business for accelerated growth, operational scale, and expanded market reach.
A Strategic Combination of Two Industry-Leading Brands
The merger of Cortina and Plasticade represents a strategic alignment designed to strengthen competitive positioning within the traffic safety and work zone solutions market. Both companies have built strong reputations for product quality, reliability, and customer service, serving municipalities, contractors, transportation departments, and infrastructure projects that rely on durable, compliant, and highly visible safety products. By uniting these complementary platforms, Radial Equity Partners aims to create a diversified, scaled organization capable of serving a broader customer base while expanding manufacturing capabilities, product innovation, and distribution efficiency. The combination is expected to enhance the group’s ability to respond to increasing infrastructure spending, roadway safety initiatives, and regulatory requirements across the United States and beyond.
Cortina’s Evolution from Tooling Specialist to Safety Products Leader
Founded in 1969, Cortina Tool & Molding began its journey as a mold-building operation serving the plastic manufacturing industry in the Chicago area. In its early years, the company focused on designing and producing high-quality molds that enabled local manufacturers to produce plastic components efficiently and at scale. As customer needs evolved and opportunities expanded, Cortina transitioned into the production of injection molded component parts, leveraging its tooling expertise to deliver consistent, durable products. Over time, the company recognized growing demand for standardized, safety-critical plastic products and strategically expanded into the traffic and work zone safety sector, a move that would ultimately define its long-term growth trajectory.
Building a Diversified Manufacturing and Product Platform
Through sustained investment in manufacturing capabilities, engineering expertise, and operational excellence, Cortina steadily transformed into a preeminent supplier of custom and proprietary plastic products. The company developed expertise across multiple manufacturing processes, including injection molding, extrusion, and blow molding, enabling it to serve a wide range of applications and customer specifications. This diversified production capability allowed Cortina to offer both standardized products and customized solutions tailored to specific project requirements, a competitive advantage in an industry where durability, compliance, and performance are paramount. Today, Cortina’s manufacturing footprint supports customers throughout North America and Latin America, reflecting the company’s evolution from a regional supplier into an international industrial platform.
A Comprehensive Portfolio of Traffic and Work Zone Safety Solutions
Cortina’s product portfolio spans a wide array of traffic and work zone safety solutions that play a critical role in protecting workers, motorists, and pedestrians. The company’s offerings include delineators used to guide traffic flow, traffic drums designed for high-visibility construction zones, and durable bases that provide stability in varying environmental conditions. Cortina also manufactures barricades that meet stringent safety standards, emergency kits designed for roadside preparedness, and parking aids that improve traffic management and vehicle safety in commercial and municipal environments. This breadth of products has enabled Cortina to become a trusted supplier for infrastructure projects of all sizes, from local roadwork to large-scale transportation initiatives.
A Legacy of Family Leadership and Long-Term Vision
As a second-generation, family-owned business, Cortina has been guided by a long-term perspective that emphasizes quality, customer relationships, and sustainable growth. Under the leadership of the Giannelli family, the company maintained a disciplined approach to expansion while remaining responsive to evolving market demands. This balance of entrepreneurial agility and operational discipline allowed Cortina to invest in new technologies, expand product lines, and maintain high standards across its manufacturing operations. The sale to Radial Equity Partners represents a natural next chapter in this legacy, providing the resources and strategic support needed to scale the business while preserving the values that have underpinned its success for more than 50 years.
Leadership Perspective on the Transaction
Jeffrey Giannelli, President of Cortina and a second-generation member of the founding family, expressed confidence in the strategic rationale behind the transaction and optimism about the company’s future as part of a larger platform. He emphasized that the partnership with Plasticade and Radial aligns with Cortina’s long-term vision and creates new opportunities for growth, innovation, and operational excellence. Giannelli also highlighted the role of D.A. Davidson throughout the process, noting that the firm served as a trusted advisor and delivered exceptional execution from initial planning through transaction close, ensuring that the outcome reflected both the company’s value and its future potential.
D.A. Davidson’s Role as Exclusive Financial Advisor
D.A. Davidson served as Cortina’s exclusive financial advisor, guiding the company through every stage of the transaction process. This included advising on strategic alternatives, positioning the business to highlight its strengths and growth opportunities, engaging with potential buyers, and negotiating transaction terms that aligned with the Giannelli family’s objectives. The firm’s deep experience in the diversified industrials sector enabled it to articulate Cortina’s value proposition effectively, emphasizing its strong market position, diversified product portfolio, and scalable manufacturing capabilities. The successful completion of the transaction underscores D.A. Davidson’s ability to deliver tailored advisory solutions to middle-market clients navigating complex strategic decisions.
Perspective from D.A. Davidson’s Diversified Industrials Leadership
Eric Stetler, Managing Director and Head of Diversified Industrials and M&A at D.A. Davidson, recognized the Giannelli family’s achievement in building a resilient and respected industrial business. He noted that Cortina’s success reflects decades of thoughtful leadership, operational discipline, and customer focus. Stetler also emphasized the firm’s appreciation for the opportunity to work closely with Cortina on such an important milestone, expressing confidence that the company will continue to thrive as part of the combined platform with Plasticade. His remarks underscore D.A. Davidson’s commitment to supporting founder- and family-owned businesses as they pursue strategic transitions.
Radial Equity Partners’ Investment Strategy and Rationale
Radial Equity Partners focuses on investing in middle-market companies with strong fundamentals, defensible market positions, and opportunities for operational improvement and growth. The acquisition of Cortina aligns with Radial’s strategy of building scalable platforms through strategic add-on acquisitions and organic expansion. By merging Cortina with Plasticade, Radial aims to create a market-leading traffic safety products company with enhanced manufacturing scale, broader product offerings, and improved supply chain efficiency. The firm’s investment approach emphasizes collaboration with management teams, long-term value creation, and disciplined capital allocation, all of which are expected to support the combined company’s next phase of growth.
Plasticade as a Complementary Platform Partner
Plasticade, Radial’s existing portfolio company, brings complementary strengths that enhance the strategic fit with Cortina. Known for its innovative approach to traffic control and safety products, Plasticade has developed a strong brand presence and customer following within the industry. The merger enables the combined organization to leverage shared expertise, cross-sell products, and streamline operations while maintaining a focus on quality and compliance. Together, Cortina and Plasticade are positioned to offer a more comprehensive suite of solutions to customers navigating increasingly complex safety and regulatory requirements.
Market Dynamics Driving Growth in Traffic Safety Products
The transaction takes place against a backdrop of favorable market dynamics for the traffic and work zone safety industry. Increased infrastructure investment, heightened awareness of roadway safety, and ongoing regulatory initiatives are driving demand for high-quality, compliant safety products. Urbanization, population growth, and the need to maintain and modernize aging transportation networks further support long-term growth prospects. In this environment, scale, product innovation, and operational efficiency are critical competitive differentiators, making the combination of Cortina and Plasticade particularly timely and strategically compelling.
Continued Momentum in D.A. Davidson’s Diversified Industrials Practice
The successful sale of Cortina represents continued momentum for D.A. Davidson’s Diversified Industrials Investment Banking Group, which has built a strong track record advising middle-market companies on mergers, acquisitions, and capital raises. The group’s sector expertise, collaborative approach, and focus on long-term client relationships have positioned it as a trusted advisor for business owners navigating transformative transactions. This transaction adds to a growing list of advisory engagements that highlight D.A. Davidson’s ability to deliver outcomes aligned with both financial objectives and strategic vision.
Overview of D.A. Davidson’s Investment Banking Capabilities
D.A. Davidson’s Investment Banking Division operates as a full-service advisory platform offering comprehensive financial advisory and capital markets expertise. The firm serves middle-market clients worldwide, providing strategic advice on mergers and acquisitions, capital raising, and corporate finance initiatives. With deep transaction experience across four core industry verticals—consumer, diversified industrials, financial institutions, and technology—the firm brings a multidisciplinary perspective to each engagement. Its integrated approach combines sector knowledge, execution excellence, and senior-level attention, enabling clients to navigate complex transactions with confidence.
Positioning the Combined Company for Long-Term Success
As Cortina joins forces with Plasticade under Radial Equity Partners’ ownership, the combined organization is positioned to capitalize on industry tailwinds and pursue a range of growth initiatives. These may include expanding product lines, investing in advanced manufacturing technologies, optimizing distribution networks, and exploring new geographic markets. The partnership brings together complementary capabilities, experienced leadership, and committed financial backing, creating a strong foundation for long-term value creation. For Cortina, the transaction represents both the culmination of decades of family leadership and the beginning of a new chapter focused on scale, innovation, and sustained impact within the traffic safety products industry.
About D.A. Davidson
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Greater Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.
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