The Jordan Company has agreed to acquire Sabre Industries from Kohlberg & Company which acquired Sabre in August 2012.
Sabre is a manufacturer of support structures used in a variety of industries including electric transmission and distribution, wireless communications, renewable energy, oil and gas, and defense.
The company’s products include tower and monopole structures; shelters and buildings; small cell and distributed antenna systems (DAS) products; tower accessories; and other components. Sabre also offers a range of services to support its manufactured products including tower construction, inspection, maintenance, warehousing and emergency response. The company, led by CEO Jim Ruddy and founded in 1977, has approximately 2,400 employees and operates five manufacturing facilities located in Alvarado, TX (headquarters); Fort Worth, TX; Sioux City, IA; Hicksville, OH; and Bossier City, LA (www.sabreindustries.com).
The demand for Sabre’s products is driven by the replacement of aging utility infrastructures and the expansion, modification and densification of existing wireless networks.
“Sabre has a proven track record of providing the high-quality structures and related services that its discerning customers demand. As a result, the company has seen consistent growth in its base of customers across North America,” said John Straus, a partner at The Jordan Company. “The Sabre management team has transformed the company into a market leader that is well-positioned to capitalize on the long-term trends underpinning growth in the electric transmission and wireless communication markets.”
The Jordan Company is a middle-market private equity firm with over $6 billion of assets under management. The firm was founded in 1982 and is headquartered in New York with an additional office in Chicago (www.thejordancompany.com).
“We are pleased that our partnership with the Sabre team has formed a differentiated market leader in the electric transmission and wireless end markets,” said Benjamin Mao, a partner at Kohlberg. “We look forward to the continued growth and success of Sabre in partnership with The Jordan Company.”
Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. In March 2018, Blackstone acquired a minority equity interest in the firm. Kohlberg & Company was founded in 1987 and is based north of New York City in Mt. Kisco, NY (www.kohlberg.com).
In a related earlier transaction, in January 2019 Kohlberg & Company sold Osmose Utilities Services, a Peachtree City, GA-based provider of inspection, maintenance and restoration services for utility and telecom infrastructure, to private equity firm EQT.
Houlihan Lokey and KeyBanc Capital Markets were the financial advisors to Sabre.
© 2019 Private Equity Professional | March 18, 2019