Altus, a private equity firm whose past investments in concrete have included Michigan-based Durand Forms Inc., announced Sept. 2 acquisition of D.S. Brown Co.
Sources: Altus Capital Partners, Westport, Conn.; CP staff
Altus, a private equity firm whose past investments in concrete have included Michigan-based Durand Forms Inc., announced its Sept. 2 acquisition of D.S. Brown Co. The North Baltimore, Ohio-based manufacturer specializes in components and coatings for highway, bridge and airport structures and pavement, including the modular, precast concrete Exodermic Bridge Deck system for fast-track retrofit.
Terms of the transaction, enacted with its co-equity investors and company management, were not disclosed. Altus Senior Partner and new D.S. Brown Chairman Greg Greenberg, however, cites the manufacturer’s long tradition of delivering superior value through highly engineered niche products.
D.S. Brown has the industry’s broadest line of expansion joint and structural bearing products with solutions suitable for every type of bridge system, he says, adding: Given the condition of our nation’s aging infrastructure, D.S. Brown is well positioned for growth. Over 80 percent of the company’s business is driven by rehabilitation and refurbishment of existing infrastructure in the U.S. Current growth looks to continue as the country’s infrastructure in general and the Interstate Highway system specifically continues to age and deteriorate. At the same time, the D.S. Brown management team will continue to pursue international growth opportunities in key markets in Asia as well as the Middle East that are investing heavily in infrastructure to meet the needs of the global economy.