Fabcon LLC, a top player in architectural precast concrete wall products east of the Rockies, has acquired Bristol Precast, a division of Lexington, Ky. design-build specialist Bristol Group Inc. The transaction includes a Lexington office and advanced Charlestown, Ind. production facility. Bristol Precast’s order log has included architectural and structural precast packages for industrial, multi-family, hospitality, commercial, corrections and parking structure contracts for projects in West Virginia, Ohio, Kentucky, Tennessee, Indiana and Missouri. Bristol Group President John Pennington will join Fabcon, supporting the business integration and ensuring customers a smooth transition.
“The acquisition will enable us to expand our Mid-South market penetration and better serve the region with the most comprehensive selection of precast solutions available,” says Fabcon CEO Mike Rafi. “We are committed to offering the best customer experience as we expand our footprint and capabilities.”
“This transition is a great fit,” observes Bristol Group CEO Todd Ball. “Fabcon has a similar philosophy of offering premier products, creating strong market positions and delivering great service and support. For the Bristol Precast team, this combination offers additional growth opportunities.” The Bristol Group will continue operating its design-build engineering and construction business, he adds, customers, suppliers, and partners experiencing no disruption during the transition.
The Bristol Precast addition boosts Fabcon’s role as a leading precast provider, with an effective span of delivery encompassing most territory east of the Rockies and north of the Gulf Coast. The Charlestown plant joins sister operations in Pleasanton, Kan.; Grandville and Trenton, Mich.; Savage, Minn. (flagship); Selkirk, N.Y.; and, Mahanoy City, Pa. Fabcon has expanded beyond its Upper Midwest heritage base with the backing of Solace Capital Partners, Los Angeles-based private investment firm.
Bristol Precast booked its largest contract in 2021 with a cast-in-place alternative for the Marion County (Ind.) Corrections campus.
VOLUNTEER MATERIALS DEAL SERVES AS ARMADA MATERIALS SPRINGBOARD
Armada Materials LLC has been formed to build a leading infrastructure materials and services business through strategic acquisitions, starting with Lewisburg, Tenn.-based Volunteer Materials LLC and its affiliate LLCs: Volunteer Concrete, Volunteer Paving, Volunteer Sand and Gravel, Action Enterprise Co. and TMC Construction Services. Well positioned to supply materials and provide paving and pavement striping services in the greater Nashville area, Volunteer Materials owns extensive, high-quality limestone reserves with proximity to the fast growing Interstate 65 corridor south of Music City.
Armada Materials CEO Rob Duke brings experience from CRH Americas and Rinker Materials leadership roles, Executive Vice President of Business Development Travis Raitt from CRH Americas and Home Depot. They will pursue a business plan from Tampa, Fla. headquarters with the backing of Kelso & Company L.P., a middle-market private equity firm founded in 1980 on the principles of partnership and alignment of interests.
“We have assembled a premier group of leaders and advisors with deep industry experience and a shared vision as the acquirer of choice for private owners considering a sale of their business,” Duke affirms. “We are very excited to team up with Volunteer and its management team under the leadership of Chad Swallows. Volunteer is an ideal, first platform with key locations in Tennessee positioned for further growth.”
“We believe Armada provides a differentiated partnership solution for owners of infrastructure materials and services businesses,” adds Kelso Managing Director Sandy Osborne.