Graycliff Partners has acquired Oberfields, a manufacturer and distributor of concrete masonry and hardscape products, from The Anderson Group which acquired the company in July 2011 through an out-of-court restructuring transaction.
Oberfields is a regional manufacturer and distributor of a broad range of concrete masonry and hardscape products, including standard gray and architectural block, segmental retaining walls, pavers, precast products and hardscape and masonry accessories. Oberfields, led by CEO Bruce Loris, is the dominant block manufacturer in Ohio and is headquartered north of Columbus in Delaware, OH (www.oberfields.com).
During the course of Anderson’s ownership, the firm completed two add-on acquisitions for Oberfields: In August 2012, the company acquired Wellnitz, a producer of concrete block and masonry products headquartered in Columbus (www.wellnitz.com); and in September 2012 it acquired Wilson Concrete Products, a producer of concrete products and building supplies based in Dayton (no website found).
“The Oberfields’ team has built an impressive business – known for innovative, quality products, and its commitment to customers,” said Will Henderson, a Managing Director of Graycliff Partners. “We look forward to working with Bruce and his team to position the company for future growth while retaining the reputation of excellent service built over the past 50-plus years.”
Graycliff Partners invests from $5 million to $25 million of equity and mezzanine capital in companies with revenues of at least $10 million and EBITDA margins of 10% or higher. Sectors of interest include manufacturing, services and distribution. Both control and minority investments are considered. The firm was formed in December 2011 by the former investment team of HSBC Capital. Graycliff Partners is headquartered in New York with an additional office in São Paulo (www.graycliffpartners.com).
The Anderson Group is an operationally focused private equity firm investing its principal’s committed capital in companies at the lower end of the middle market. The firm is industry agnostic and makes control investments in companies with revenues from $10 to $100 million and EBITDA of $1 to $8 million. The firm is located in Bloomfield Hills, MI (www.andersongroup.biz).
© 2017 Private Equity Professional | April 7, 2017
