Altus Capital Acquires Rocla Concrete Tie
Altus Capital Partners, an investment firm focused on middle-market manufacturing companies, announced the acquisition of Rocla Concrete Tie, a U.S. 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.
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.”
Wilton, CT-based 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.
CoView Capital is an investment banking firm specializing in middle-market mergers and acquisitions and private placements.