Fabcon Precast Expands Its Geographic Footprint with Bristol Precast Acquisition
Gracie Gottlieb | 2 October, 2023
Fabcon Precast, backed by Solace Capital Partners, has acquired the precast division of The Bristol Group. This acquisition allows Fabcon to expand its geographic footprint into the Mid-South market and strengthens its position as a leading provider of engineered, structural precast wall panels. With this strategic move, Fabcon now has the ability to serve customers across 46 states and two Canadian provinces.
The Bristol Group, based in Lexington, Kentucky, is a design-build commercial construction firm and manufacturer of precast concrete wall panels and other structural products. Bristol Precast, the acquired division, provides engineered precast and prestressed concrete products in several states including Kentucky, Ohio, Indiana, Tennessee, Missouri, and West Virginia. The acquisition includes all aspects of the Bristol Precast business, including its offices in Lexington and production facility in Charlestown, Indiana.
According to Christopher Brothers, the Co-Founder and Managing Partner of Solace Capital Partners, Bristol Precast is a perfect fit for Fabcon due to its commitment to quality and end-to-end customer service. This acquisition not only represents Fabcon's capability to execute attractive M&A opportunities but also allows the company to expand its presence in the market. Solace Capital Partners is pleased to support Fabcon in its growth journey as a leading provider of engineered, structural precast wall panels across diverse end-markets.
Since Solace Capital Partners' initial investment in 2018, Fabcon has experienced remarkable growth, with revenue and EBITDA increasing by over 100%. This growth can be attributed to various strategic moves, including the acquisition of Kerkstra Precast in 2021, the development of the Selkirk, New York facility in 2022, and now the acquisition of Bristol Precast. These expansions have enabled Fabcon to establish a strong presence in the precast industry, with eight manufacturing facilities and the ability to deliver products nationwide.
Fabcon is led by a seasoned management team recruited by Solace Capital Partners. Mike Rafi, a 20-year industry veteran, serves as the Chief Executive Officer, while Brian Moody, previously a Solace Operating Partner, acts as the Chief Financial Officer. With their expertise and knowledge, Fabcon is well-positioned for continued success and growth in the precast market.
Solace Capital Partners, based in Los Angeles, is a private investment firm focused on providing flexible capital solutions for middle market companies in the United States and Canada. The firm aims to form collaborative partnerships with management teams and leverage its extensive resources to drive operational improvements and performance in its portfolio companies. Through these partnerships, Solace seeks to generate attractive risk-adjusted returns for its investors.
Fabcon Precast, founded in 1971, has been at the forefront of the precast industry for over 50 years. The company has continuously expanded its capabilities, grown its markets, and pioneered various precast panel innovations. With its eight manufacturing facilities, Fabcon delivers high-quality products to customers across almost all of the contiguous states.
In conclusion, Fabcon Precast's acquisition of the precast division of The Bristol Group allows the company to expand its reach into the Mid-South market and solidify its position as a leading provider of engineered, structural precast wall panels. With the support of Solace Capital Partners, Fabcon is poised for further growth and success in the precast industry.
Other Posts
- Allianz Investment Management LLC Q3 2020 vs. Q4 2020 13F Holdings Comparison
- The Changing Landscape of Price Capital Management's Q3 vs Q4 2022 Portfolio Holdings
- CapVest Acquires Kerridge Commercial Systems: A Game-Changing Move in SaaS ERP Solutions
- Financial Partners Group, Inc Q3 2022 vs. Q4 2022: A Detailed Analysis of 13F Holdings Changes
- "Analyzing Horizon Investments' Q3 to Q4 2022 Fund Holding Comparison: Market Trends Revealed"
- Investment firm Riverpark's 13F Holdings: A Review of Q3 2022 vs. Q4 2022
- The Rise and Fall of Financial Advantage, Inc: A Q4 2022 vs. Q1 2023 13F Holdings Comparison
- Arlington Capital Management, Inc. Q2 2023 vs. Q3 2023 13F Holdings Comparison
- The Ups and Downs of P2 Capital Partners, LLC Q3 2022 vs. Q4 2022 13F Holdings
- Bridging the Gap: A Comparison of Bdt Capital Partners' Q3 and Q4 2022 Holdings