Altus Capital Partners II, L.P. Acquires Rocla Concrete Tie, Inc.
Altus Capital Partners, an investment firm focused on middle market manufacturing companies in the U.S., announced today the acquisition of Rocla Concrete Tie, Inc., the leading US manufacturer of pre-stressed concrete railroad ties.Altus, along with the company’s senior management team, made this investment to support Rocla’s continued participation as the U.S. leader in producing concrete ties for freight, transit and high speed rail requirements as well as its expansion into select foreign markets. The financial terms of the investment were not disclosed. The sellers were AH Belco S.A., a Belgian holding company and were advised by CoView Capital, Inc.
Rocla Concrete Tie, Inc. (“Rocla”) is headquartered in Denver, Colorado and has manufacturing plants in Pueblo, Colorado; Amarillo, Texas; and Bear, Delaware. Rocla, which was founded in 1986, manufactures pre-stressed concrete railroad ties and turnout ties for Class I railroads, commuter passenger operations, transit authorities and industrial operations. Concrete ties are increasingly seen within the U.S railroad industry as a superior product because of their durability, uniform quality, reduced maintenance and prolonged rail life.
Peter Urquhart, Rocla’s Chief Executive Officer, said, “We are extremely excited about the opportunity of working with Altus Capital Partners to accelerate growth and create additional value through expansion both in the United States and internationally. Combining our history, assets and people with the investment and energy of Altus Capital Partners gives all of us at Rocla a great feeling of optimism for our future.”
Russell J. Greenberg, Managing Partner of Altus Capital Partners, commented, “Altus is pleased to partner with the Rocla management team in acquiring the leading producer of concrete railroad ties in the United States. We recognize and value management’s depth of capabilities, which has earned Rocla its industry leadership position. We look forward to working with and supporting management to expand both within its existing customer base as well as to take advantage of international opportunities that are available.”
About Rocla Concrete Tie, Inc.
Rocla is the leading producer of pre-stressed concrete rail ties in the United States. Major customers for its products include Amtrak, Burlington Northern and Union Pacific, as well as other Class I railroads, light rail/transit projects, high speed corridors and industrial/ports all around the country. Rocla began producing ties in the United States in 1987 and now has manufacturing plants in Pueblo, Colorado; Amarillo, Texas; and Bear, Delaware. For more information on Rocla, please visit www.roclatie.com.
About Altus Capital Partners
Headquartered in Wilton, CT with offices in Lincolnshire, IL, Altus Capital Partners invests alongside management in profitable small to medium-sized manufacturing companies domiciled in the U.S. that have proprietary technologies, processes and products. The Altus investment team is led by three partners, who, in 17 years of investing together, have acquired 24 platform companies. For more information on Altus, please visit www.altuscapitalpartners.com.
About CoView Capital, Inc.
Headquartered in New York City, CoView Capital, Inc. is an investment banking firm specializing in middle-market mergers and acquisitions and private placements.
212-537-5177, Ext 2