Parkline, a portfolio company of Summit Park, has acquired the modular metal buildings business of Bebco Industries. The assets of the Bebco Environmental Control Corporation are not part of this purchase and continue to operate as a stand-alone business under the Bebco name.
This purchase includes all of the Bebco industrial housing and access solutions product lines. These product lines consist of pre-engineered industrial modular buildings fabricated from 12-18 gauge galvanized steel, stainless steel, aluminum or fiberglass construction and structural steel flooring systems. Also included are the blast resistant building products, sheds, canopies, industrial duty stairs, ramps and platforms. The modular metal buildings business is located near Houston in Hitchcock, TX (www.okbebco.com).
“We are very pleased to acquire the metal building assets from Bebco. Our investment thesis has always been to expand geographically and expand Parkline’s capabilities. This acquisition accomplishes both, and we look forward to combining forces and building on each company’s historical success,” said Bob Calton, a managing partner at Summit Park.
Parkline is a manufacturer of metal buildings for industrial and commercial applications. Formed as an independent company in 1973, Parkline focuses on the production and erection of smaller buildings (widths of less than 32 feet) and has more than 70,000 structures in service throughout the United States and Canada. Summit Park acquired Parkline in May 2012 from an ESOP which controlled the company. Parkline’s senior management team at that time significantly re-invested in the company. Parkline is headquartered in Eleanor, WV (www.parkline.com).
“The addition of the Bebco’s product lines to Parkline’s product offering of 18-24 gauge metal buildings, which may be site erected or modular constructed, arguably creates one of the industry’s most diverse and flexible product portfolios,” said Bill Estep, President & CEO of Parkline. “With two significant fabrication, assembly and systems integration facilities, one of which is strategically located with port access, this acquisition enhances our ability to provide exceptional value to more customer applications across a greatly expanded geography.”
Summit Park makes investments in lower middle market companies in a range of industries that have revenues between $20 and $100 million or EBITDAs between $4 and $10 million. Sectors of interest include business services, outsourced services, light manufacturing, and distribution. Summit Park is headquartered in Charlotte, NC (www.summitparkllc.com).
Senior financing for the transaction was provided by the sponsor finance group of Byline Bank. This group provides senior secured, cash flow loans to private equity sponsors to back acquisitions, provide growth capital and enable refinancings. Staffing the group from Chicago are Jim Kuncl, Dan Delgadillo and Joe Horwath (www.bylinebank.com).
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