Source: Equity Partners CRB, Easton, Md.
Concrete Building Products has retained Equity Partners to help the company locate a suitable partner or buyer. Until 2010, when its plant was shut down, Concrete Building Products was a leading provider of precast hollowcore planks, solid slabs, stairs and other precast concrete products to the construction industry in Florida.
As the construction market declined from 2007-2009 and the demand for hollowcore decreased, Concrete Building Products decided to suspend operations at the plant in 2010, and has decided to pursue a joint-venture relationship with an experienced precast group or an outright sale of the facility.
Located in Highlands County at the Sebring International Airport and close to the center of the state with easy access to Orlando, Tampa and all of South Florida, the company’s state-of-the-art hollowcore concrete precast plant utilized the most advanced technology. Constructed in July 2006, the plant can produce as much as 1.6 million sq. ft. of hollowcore plank per year, as well as stairs and wet cast.
According to Matt LoCascio, managing director at Equity Partners, “With a modern, technology-driven, efficient plant, along with experienced personnel ready to go back to work, this is an excellent opportunity to capture market share in a rebound industry. This is an opportunity to acquire an established brand name, unparalleled expertise and certifications, and Florida market share, with a substantial active bid pipeline, in a growing and high-upside industry with many tested applications.”
Using Ultra Span Technology, the Concrete Building Products plant can efficiently produce hollowcore plank and maintain reliable manufacturing schedules. The ability to use a low water-to-cement ratio for the extruder—allowing for reduced curing times, along with custom casting pallets, cross-and-rip cut saws, and a production service vehicle that cleans the beds and pulls the steel strand—ensures that manufacturing is continuous and downtime is minimized.