Del Monte Capital, a Houston-based private equity firm specializing in growth-oriented, lower middle-market companies, has announced a majority recapitalization of the Cornerstone companies: Cornerstone Excavating (formerly WDBS Cornerstone) and Cornerstone On-Site Concrete (formerly Cornerstone OnTime Concrete), with Saginaw, Texas headquarters. Operating primarily in the Dallas-Fort Worth area, the companies are well-positioned to expand their geographic reach and capitalize on significant…
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MANUFACTURERS – JANUARY 2020
Germany’s BASF SE projects a third quarter 2020 closing on the $3.5 billion sale of its Construction Chemicals unit to an affiliate of Lone Star, a global private equity firm with offices in Frankfurt and New York. A subject of speculation since a late-2018 BASF announcement of plans to shop the business, the transaction will include Master Builders concrete admixture and sister brands deeply rooted in construction, maintenance and retrofit. With more than 7,000 employees, the BASF Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about $2.8 billion in 2018.
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