Monomoy acquires Cast-Crete, a leading manufacturer and distributor of prefabricated components | Nation / world

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NEW YORK – (BUSINESS WIRE) – 6.1.2022–

Monomoy Capital Partners, a medium-sized private investment firm focused on operational value creation for industrial and consumer goods companies, announced today that it has acquired Cast-Crete Holdings, LLC. The transaction was completed in November 2021; Transaction terms were not disclosed.

Cast-Crete is the nation’s largest manufacturer and distributor of prefabricated and prestressed concrete lintels and sleepers. Founded in 1955, Cast-Crete pioneered the use of precast concrete that has become the industry standard for residential and commercial buildings. As a vertically integrated company, Cast-Crete delivers its manufactured prefabricated parts together with procured supplementary articles directly to the construction sites of its customers. Cast-Crete is headquartered in Seffner, Florida and has nine sales offices across the state of Florida to serve its customers.

The company’s chief executive officer, Jim Connelly, will continue to lead from corporate headquarters. “As we are starting a new chapter with the support of Monomoy, I am confident that we will continue to deliver high quality products that will support our customers and realize significant growth opportunities for the business in the future,” said Mr. Connelly. “I look forward to building on our historic success and using Monomoy’s operational toolkit to help us further optimize and grow our business.”

Monomoy partner Jaime Forsyth commented, “Jim and his team did an amazing job making Cast-Crete an industry leader. We look forward to working with the team and continuing its long history of attractive growth. The valuable customer relationships, size and unmatched asset base of Cast-Crete should enable the company to capitalize on new housing demand in the Southeast in the years to come. “

Stephen Gulotta from Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC advised Monomoy on the takeover. Cerberus Capital Management provided the financing for the transaction. Christian Mangelsen of Alvarez & Marsal Transaction Advisory Group, LLC acted as accounting advisor to Monomoy on the acquisition.

BlackArch Partners acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Cast-Crete.

About Monomoy

Monomoy Capital Partners is a private investment company with over $ 2.7 billion in assets under management. Monomoy invests in the equity and debt of medium-sized companies that can benefit from operational and financial improvements, with an emphasis on manufacturing, distribution and consumer goods businesses in North America and Europe. For more information about Monomoy and its portfolio companies, please visit our website at www.mcpfunds.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005067/en/

CONTACT: MiddleM Creative, on behalf of Monomoy Capital Partners

Allie Gamble, Vice President

[email protected] | 704.780.4359

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

SECTOR KEYWORD: OTHER MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE & REAL ESTATE FINANCING PROFESSIONAL SERVICES MANUFACTURING BUILDING SYSTEMS OTHER CONSTRUCTION & REAL ESTATE RESIDENTIAL CONSTRUCTION & REAL ESTATE

SOURCE: Monomoy Capital Partners

Copyright Business Wire 2022.

PUB: 06/01/2022 06:00 / DISC: 06/01/2022 06:02

http://www.businesswire.com/news/home/20220106005067/en

Copyright Business Wire 2022.


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