Sources: Washington Partners, Tampa, Fla.
White Plains, N.Y.-based Stonebridge Partners has closed on Cast-Crete USA, Inc., a leading producer of branded precast lintels, sills, scuppers and thresholds used in residential and commercial concrete masonry construction.
Advising Steffner, Fla.-based Cast-Crete on the deal was Washington Partners LLC, Tampa. “They contacted us given our very successful prior deal in a similar space and thought our experience would be a great match with Cast-Crete and the management team,” says Stonebridge co-Managing Partner Mike Bruno. “From the introduction to the seller, site visits, negotiations, and throughout the closing, the entire deal team at Washington Partners provided timely assistance. They demonstrated a rare understanding of the relationship that occurs between the buyer and seller, especially in a complex deal like this.”
An operations-oriented investor, Stonebridge has historically focused on niche manufacturing industries, including building products, infrastructure, plus specialty packaging and manufacturing. During three decades of activity, it has invested over $600 million in 60 separate acquisitions. Washington Partners provides intermediary services such as mergers, acquisitions, divestitures, valuations, and transaction consulting for lower-middle market business owners. Its global client base has included public and private companies, investor groups, and management buyout groups.