Framework Capital and Tecum Equity Partners have acquired Gibraltar Cable Barrier Systems, a maker of road safety products and a division of Gibraltar Materials.
Gibraltar Cable Barrier is a provider of both three and four cable high-tension barrier systems that are used to contain and redirect errant vehicles from road hazards. The company’s systems are installed in every state in the United States and on 3 continents. As part of the transaction, the company will continue to use the Gibraltar Cable Barrier Systems brand. Gibraltar Cable Barrier, led by its President Ron Faulkenberry, is headquartered 50 miles northwest of Austin in Marble Falls, TX (www.gibraltarglobal.com).
“Gibraltar has an established track record of building great products. Our cable barrier system is viewed as the gold standard among high tension cable barriers and we are excited about this partnership that will facilitate our continued growth,” said Mr. Faulkenberry.
“Ron and the management team are world-class, which is to be expected because the Gibraltar Cable Barrier System is the preferred system of states and roadway contractors both domestically and internationally. We look forward to working alongside the team to create a bright future,” said Jerry McGee, Managing Director of Framework Capital.
Framework Capital invests in manufacturing, industrial and energy services companies. The firm is headquartered in Houston with an additional office in Newport Beach, CA (www.frameworkcapitalpartners.com).
“We are excited about our new partnership with both Framework Capital and Gibraltar. We look forward to continuing to provide one of the world’s best-engineered cable protection systems and to continue to make highway and roadway infrastructures safer in a more cost-effective manner,” said Stephen Gurgovits, Jr., Managing Partner of Tecum Equity.
Tecum Equity is a committed fund backed by a family office, Western Allegheny Capital, focused on control equity acquisitions. The firm invests from $5 million to $20 million in businesses with more than $10 million of revenue and $2 million to $7 million of EBITDA. Tecum Equity is based in the Pittsburgh suburb of Wexford (www.tecum.com).
© 2017 Private Equity Professional | October 25, 2017
