M&A Deal Summary

Oldcastle Infrastructure Acquires Standard Precast

On October 1, 2019, Oldcastle Infrastructure acquired building materials company Standard Precast from Aavin Equity Advisors and Diamond State Ventures

Acquisition Highlights
  • This is Oldcastle Infrastructure’s 1st transaction in the Building Materials sector.
  • This is Oldcastle Infrastructure’s 2nd transaction in the United States.
  • This is Oldcastle Infrastructure’s 1st transaction in Florida.

M&A Deal Summary

Date 2019-10-01
Target Standard Precast
Sector Building Materials
Buyer(s) Oldcastle Infrastructure
Sellers(s) Aavin Equity Advisors
Diamond State Ventures
Deal Type Add-on Acquisition

Target

Standard Precast

Jacksonville, Florida, United States
Standard Precast is a manufacturer of precast concrete products for storm drainage, sanitation, and other underground infrastructure applications. Standard Precast was founded in 1965 and is based in Jacksonville, Florida.

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Buyer(S) 1

Buyer

Oldcastle Infrastructure

Atlanta, Georgia, United States

Category Company
Sector Infrastructure
DESCRIPTION

Oldcastle Infrastructure, Inc. is a provider of precast, storm water, enclosure, and building accessory product based in Atlanta, Georgia.


DEAL STATS #
Overall 3 of 7
Sector: Building Materials M&A 1 of 3
Type: Add-on Acquisition M&A Deals 3 of 5
State: Florida M&A 1 of 1
Country: United States M&A 2 of 5
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Primex Technologies

Langley, British Columbia, Canada

Primex Technologies is a manufacturer of plastic injection products. Primex Technologies developed design, engineering, and mold fabrication of proprietary patented in-house plastic products. Primex Technologies was founded in 1971 and is based in Langley, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-11 Suttle

Hector, Minnesota, United States

Suttle, Inc. is a home technology company that specializes in high-speed connectivity solutions from the edge of the network into a well-connected smart home or small business. The company is a manufacturer of communication connectivity products to the major service providers and installers. Suttle was formed in 1910 and is based in Hector, Minnesota.

Buy -

Seller(S) 2

SELLER

Aavin Equity Advisors

Cedar Rapids, Iowa, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 275M USD
Size Small
Type Sector Agnostic
DESCRIPTION

AAVIN Private Equity is a private investment firm that targets investments in smaller companies at all stages of development from early stage to later stage/buyouts. AAVIN typically looks for opportunities located in the Midwest and typically commits $1 to $5 million of capital per transaction. Sectors of interest include medical services & devices, telecommunications, manufacturing & distribution, industrial products & services and computer & software. AAVIN was formed in 1999 and is based in Cedar Rapids, Iowa.


DEAL STATS #
Overall 11 of 15
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 10
State: Florida M&A 1 of 1
Country: United States M&A 11 of 15
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 Archon Woodworks

Omaha, Nebraska, United States

Archon Woodworks, Inc. is a manufacturer and designer of wood kitchen cabinet accessories to kitchen cabinet manufacturers and hardware distributors. Archon Woodworks was founded in 1983 and is based in Omaha, Nebraska.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Carolina Marine Structures

Powells Point, North Carolina, United States

Carolina Marine Structures is a provider of waterfront structure construction and marine construction services in the Southeastern United States. Carolina Marine Structures was founded in 2004 and is based in Powells Point, North Carolina.

Buy -
SELLER

Diamond State Ventures

Little Rock, Arkansas, United States

Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Diamond State Ventures (DSV) is a private equity and venture capital firm focused on small and lower middle-market company investments in Arkansas, as well as the Midwest and Southeast US. DSV looks to commit $1 to $5 million per investment, which can take the form of subordinated debt, preferred equity or a combination of the two. Prospective transaction situations include growth capital financings, management buyouts, family successions, recapitalizations, and early stage investments. Sectors of interest include niche manufacturing, business services, media, consumer products and services, education, healthcare, and technology. DSV will not invest in seed or startup companies. Diamond State Ventures is based in Little Rock.


DEAL STATS #
Overall 8 of 15
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 11
State: Florida M&A 2 of 4
Country: United States M&A 8 of 15
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Arkansas Automatic Sprinklers

Cabot, Arizona, United States

Arkansas Automatic Sprinklers designs, manufactures, installs, maintains, and inspects fire protection equipment for hospitals, warehouses, schools, nursing homes, office buildings, penitentiaries, high rise buildings, and institutions in the United States. Arkansas Automatic Sprinklers was founded in 1984 and is based in Cabot, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Winco

Ocala, Florida, United States

Winco manufactures medical furnishings that include recliners, privacy screens, treatment tables, phlebotomy chairs, and stools used primarily in Clinical, Acute Care, and Long Term Care markets. Winco was founded in 1946 and is based in Ocala, Florida.

Sell -