Merit has acquired Carter-Waters, a provider of concrete-related construction products. In the second quarter of 2014, Merit Capital Partners, together with Aiglon Capital Management and existing management, completed the acquisition of Carter-Waters LLC. Merit provided subordinated debt and equity in this investment.
Carter-Waters is a distributor of construction materials and equipment utilized in concrete construction applications to commercial, highway and residential contractors. The company operates 12 locations in Missouri, Kansas and Southern Illinois. Carter-Waters also maintains an extensive rental inventory of concrete forming and shoring products and operates a custom rebar fabrication facility. The company was founded in 1922 and is based in Kansas City (www.carter-waters.com).
Merit Capital Partners invests mezzanine and equity capital of $20 million to $60 million in companies with at least $5 million of EBITDA that are active in the manufacturing, distribution and services industries. Merit is currently investing its fifth fund, Merit Mezzanine Fund V, LP, with total commitments of $612.5 million. The firm was founded in 1993 and is based in Chicago (www.meritcapital.com).
Dan Pansing and Joe Polaneczky worked on the deal team for Merit.
2014 PEPD • Private Equity’s Leading News Magazine • 7-1-14