Sources: Warren Equity Partners, Houston; CP staff
A lower middle market private equity fund with infrastructure and maintenance business investments has taken a controlling interest in StormTrap LLC, a Romeoville, Ill., precast producer and licensor of stormwater harvesting, storage and treatment technology. Warren Equity acquired the stake from the Hawken family, which founded StormTrap in 2002. The Hawkens invested alongside the fund and will remain on the board of directors.
Source: Alley-Cassetty Companies Inc., Nashville; CP staf
One of largest independent and family owned masonry distributors in the U.S., Alley-Cassetty Cos., entered a purchase agreement late last year to acquire the block, brick and stone assets of LoJac Materials, Inc., serving the middle Tennessee market from three locations. Projected to close this month, the transaction will expand its reach to 14 Southeast locations.
Sources: Grupo Cementos de Chihuahua, S.A.B. de C.V., Mexico; CP staff
GCC of America is ramping up new equipment at its Rapid City, S.D., Dacotah cement plant, where work on a $100 million capacity expansion began in 2016. Upgrades increase annual capacity to 1,167,000 metric tonnes and are expected to reduce variable costs. Overall production suspended during a late-2018 tie-in phase for new equipment has resumed.
Sources: Crane Carrier Co., New Philadelphia, Ohio; CP staff
Crane Carrier Co. has become an independent company following the sale of its namesake truck and Kimble Mixer Co. businesses to Turnspire Capital Partners LLC and the management team. Previous known as Hines Specialty Vehicle Group, CCC consists of Crane Carrier Co. (truck chassis), Crane Carrier Company Engineered Chassis and CyKlone Mixers with Kimble Technology. In conjunction with acquiring Ohio manufacturing operations, Turnspire and management cite a substantial investment in CCC and will continue to support the business with financial and strategic resources.
Source: CIM National Steering Committee; CP staff
The Concrete Industry Management Auction at World of Concrete will have an equipment pool topped by two mixers for a second consecutive year, thanks to donations from Beck Industrial and Mack Trucks, plus Con-Tech Manufacturing, Kenworth Truck and Kenworth of Central Florida. Vehicle bidding will cap the CIM Auction, January 23 in Las Vegas Convention Center Room N262.