Sources: Vossloh AG, Werdohl, Germany; Altus Capital Partners, Wilton, Conn.; CP staff
Less than a month after finalizing an agreement with Altus Capital Partners, Vossloh Group has closed on Denver-based Rocla Concrete Tie Inc., the leading producer of prestressed concrete railroad and turnout ties for Class I, commuter passenger, transit, and industrial lines.
“The acquisition enhances our profile as a provider of integrated, comprehensive solutions for rail infrastructure customers while strengthening our position in [a] focus market,” says Vossloh CEO Dr. Hans Schabert. “Rocla is firmly established in the U.S. and serves the most important customers in the rail industry.”
Rocla Concrete joins the Vossloh Core Components division as a second business unit, Ties Technologies, alongside complementary Fastening Systems. Vossloh North America is based in Charlotte, N.C., and billed as an “an all-round provider, offering track fasteners, switches, signaling technology and rail-related services.”
During its most recent fiscal year, Rocla Concrete logged just under $90 million in shipments from plants in Pueblo, Colo.; Amarillo, Texas; Bear, Del.; Portsmouth, Ohio; Ft Pierce, Fla.; Tucson, Ariz.; and, San Jose Iturbide, Mexico. Under Altus Capital Partners II, L.P., which acquired the producer in mid-2013, sales have doubled, owing partly to major investments in two new operations and two bolt-on deals.
“We have been fortunate to work with Altus Capital in strengthening [our] growth platform over the last three years,” affirms Rocla CEO Peter Urquhart. “[Managing Partner] Russ Greenberg and his team brought more than just financial resources; they worked hand in hand with our management team on both strategy and tactics, demonstrating their commitment to our growth as real partners.”