Stonebridge Partners has acquired Cast-Crete USA, a maker of precast concrete products used in residential and commercial construction.
Cast-Crete USA is a manufacturer of branded precast concrete lintels, sills, scuppers (used in water control applications), and thresholds used exclusively in concrete block construction of residential and commercial buildings. Cast-Crete considers itself to be the largest manufacturer of precast lintels and sills in the nation. A lintel is a decorative or structural horizontal block that spans the space or opening between two vertical supports and is often found over portals, doors, windows and fireplaces. Cast-Crete sells its products throughout the Southeast United States. The company has been family owned and operated since founding in 1955 and is based in near Tampa in Seffner, FL (www.castcrete.com).
Stonebridge Partners invests in companies with purchase prices between $30 million and $200 million. Sectors of interest include niche manufacturing industries, including building products, infrastructure, specialty packaging and specialty manufacturing. The firm was founded in 1986 and is based in White Plains, NY. During their three decades of activity, Stonebridge has invested over $625 million of capital in 60 separate acquisitions (www.stonebridgepartners.com).
Washington Partners was the financial advisor to Cast-Crete USA on this transaction. “Washington Partners contacted us given our very successful prior deal in a similar space and thought our 
experience would be a great match with Cast-Crete and the management team,” said Stonebridge’s Co-Managing Partner, Michael Bruno. “From the introduction to the seller, site visits, negotiations, and throughout the closing, the entire deal team at Washington Partners provided the timely assistance we needed from them. They demonstrated a rare understanding of the relationship that occurs between the buyer and seller, especially in a complex deal like this. Washington Partners was a pleasure to deal with and we look forward to working with them again in the future.”
Washington Partners provides intermediary services such as mergers, acquisitions, divestitures, valuations, and transaction consulting for lower-middle market business owners. The firm was founded in 1999 and is based in Tampa (www.washingtonpartners.com).
© 2017 Private Equity Professional | April 26, 2017
