BlackArch Partners is pleased to announce the sale of Cast-Crete Holdings, LLC, a portfolio company of Stonebridge Partners, to Monomoy Capital Partners.
CHARLOTTE, NC (January 11, 2022) – BlackArch Partners (“BlackArch”) is pleased to announce the sale of Cast-Crete Holdings, LLC (“Cast-Crete” or the “Company”), a portfolio company of Stonebridge Partners (“Stonebridge”), to Monomoy Capital Partners (“Monomoy”).
Cast-Crete, headquartered in Seffner, FL, is a vertically integrated producer and distributor of building products for use in residential and commercial construction. The Company has a 65-year track record of supplying customers across Florida with high-quality precast and prestressed concrete products that are delivered directly to individual jobsites through a sophisticated distribution network. As the industry’s pioneer and market leader, Cast-Crete is well positioned to benefit from strong economic and demographic tailwinds driving growth in residential construction throughout the southeastern United States.
BlackArch was retained by Cast-Crete and Stonebridge Partners to serve as the Company’s exclusive financial advisor. The transaction builds upon BlackArch’s significant momentum in the building products sector and is a further example of the firm’s ability to drive superior outcomes for market-leading businesses.
Jim Connelly, Chief Executive Officer of Cast-Crete, commented, “It didn’t take long after we chose BlackArch for us to feel confident that we made the right decision. Their team exhibited a great deal of professionalism throughout the process. It was impressive how fast they educated themselves about Cast-Crete and the entire market that we service. Their relentless attention to detail and their understanding of our customers, vendors, products and management team gave us the highest level of confidence. Our shareholders were very pleased with the end result, thanks to each person on the BlackArch team. I hope to have the opportunity to work with this dedicated team again in the future, as not only did they gain my utmost respect from a business standpoint, but I also made a new group of friends.”
Dave Schopp, Operating Partner with Stonebridge, added, “BlackArch was a true partner to Cast-Crete’s management team, helping them every step of the way throughout the process. BlackArch’s analytical horsepower is second to none, and their diligent marketing approach provided potential buyers with a solid understanding of the key attributes of the business.”
Bill Connors, Managing Director with Stonebridge, further noted, “The BlackArch team overdelivered throughout every step of the process. The senior-level attention and in-depth industry knowledge provided by BlackArch resulted in an efficient process and successful outcome for our investors.”
Cast-Crete is a manufacturer and supplier of precast and prestressed concrete building products, including lintels and sills, as well as complementary building products such as rebar and wire mesh, to homebuilders, contractors and distributors across the state of Florida. The Company also operates as a concrete contractor, offering services such as curbing and sidewalk pouring. Based just outside of Tampa, Cast-Crete operates a state-wide network of distribution facilities, with nine locations across the state, that enable it to provide rapid product delivery directly to customer jobsites. For more information, please visit www.castcrete.com.
About Stonebridge Partners
Stonebridge Partners is a lower middle-market, operations-oriented private equity firm founded in 1986. Stonebridge is focused on investing in family-owned, niche manufacturing, distribution and service businesses with EBITDA of $3 million to $15 million. For more information, please visit www.stonebridgepartners.com.
About Monomoy Capital Partners
Monomoy Capital Partners is a private investment firm with over $2.7 billion in assets under management. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution and consumer product businesses in North America and Europe. Further information concerning Monomoy and its portfolio companies is available at www.mcpfunds.com.
About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, NC, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors. BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. Please visit our website, www.blackarchpartners.com, for more information.
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