Altus Capital Partners has acquired, in partnership with the company’s senior management team, Rocla Concrete Tie, a manufacturer of pre-stressed concrete railroad ties.
“Altus is pleased to partner with the Rocla management team in acquiring the leading producer of concrete railroad ties in the United States. We recognize and value management’s depth of capabilities, which has earned Rocla its industry leadership position,” said Russell Greenberg, Managing Partner of Altus Capital Partners. “We look forward to working with and supporting management to expand both within its existing customer base as well as to take advantage of international opportunities that are available.”
Rocla Concrete Tie manufactures pre-stressed concrete railroad ties and turnout ties for Class I railroads, commuter passenger operations, transit authorities and industrial operations. Major customers include Amtrak, Burlington Northern and Union Pacific, as well as other Class I railroads, light rail/transit projects, high speed corridors and industrial/ports. The company has manufacturing plants in Pueblo, CO; Amarillo, TX; and Bear, DE. Rocla was founded in 1986 and is based in Denver (www.roclatie.com).
“We are extremely excited about the opportunity of working with Altus Capital Partners to accelerate growth and create additional value through expansion both in the United States and internationally. Combining our history, assets and people with the investment and energy of Altus Capital Partners gives all of us at Rocla a great feeling of optimism for our future,” said Peter Urquhart, Rocla’s Chief Executive Officer.
CoView Capital, a New York based investment bank specializing in middle-market mergers and acquisitions and private placements (www.coviewcap.com), advised the seller, AH Belco S.A., on this transaction.
Altus Capital Partners invests in corporate divestitures, management-led buyouts, and privately held or family-owned businesses with manufacturing operations based primarily in the Midwest and Eastern regions of the United States. Target companies will have at least $5 million of EBITDA and an enterprise value from $30 million to $100 million. The firm is headquartered in Wilton, CT with an additional office in Lincolnshire, IL (www.altuscapitalpartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-14-13