A private equity firm pursuing middle market, business-to-business industrial targets, MiddleGround Capital has acquired Canal Fulton, Ohio-based Lindsay Precast, one of the top independent producers serving utility, drainage and other non-architectural construction segments. With a payroll of 350, the producer operates two plants each in Ohio, Colorado and the Carolinas, plus Florida and Washington satellites, and serves water supply, wastewater,…Read More
Sources: Valdosta Lowndes County Development Authority, Georgia; CP staff
Valdosta Lowndes County Development Authority directors have approved an agreement under which Bates Precast Concrete, Inc. will invest up to $5 million in a new Lake Park Industrial Park office and production facility, increasing drainage and utility structure offerings from a present 6.4-acre Lake Park, Ga. site.Read More
Sources: South Carolina Department of Commerce, Columbia; CP staff
A fixture in architectural and structural precast from Mid-Atlantic to Southeast to South Central markets plans a major capacity expansion in its home base. In conjunction with the South Carolina Department of Commerce, Tindall Corp. has outlined a $27.9 million investment for a new Utility Division production facility in Spartanburg.Read More
Sources: Dodge Data & Analytics, New York; CP staff
Total 2016 construction starts advanced 1 percent to $676.5 billion, a considerably smaller gain than the 11 percent increase reported for 2015, according to Dodge Data & Analytics. If the volatile manufacturing and electric utility/gas plant categories are excluded, last year’s total construction starts would be up 4 percent, depicting a more gradual deceleration relative to the corresponding 9 percent year-over-year increase in 2015.Read More
Source: Meadow Burke, Tampa, Fla.
Meadow Burke has closed on Bowco Industries, crediting the Canby, Ore., company for customer service, high-quality design, and setting “the standard for precision-engineered products for the utility and underground precast industry,” and bringing “Meadow Burke another facet of revolutionary advantage of any other company in the industry.”Read More
Source: National Precast Concrete Association, Carmel, Ind.
Based on data from its recently released Precast Industry Benchmarking Report and leading forecasters, NPCA projects U.S. producers’ shipments increasing this year to $16.8 billion from $15.9 billion in 2013, the 6 percent gain modest against higher overall construction growth in 2014.Read More