M&A Deal Summary

Solace Capital Partners Acquires Fabcon Precast

On September 6, 2018, private equity firm Solace Capital Partners acquired building materials company Fabcon Precast from Platinum Equity

Acquisition Highlights
  • This is Solace Capital Partners’ 1st transaction in the Building Materials sector.
  • This is Solace Capital Partners’ 2nd transaction in the United States.
  • This is Solace Capital Partners’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2018-09-06
Target Fabcon Precast
Sector Building Materials
Buyer(s) Solace Capital Partners
Sellers(s) Platinum Equity
Deal Type Secondary Buyout

Target

Fabcon Precast

Savage, Minnesota, United States
Fabcon Precast is a manufacturer of precast, pre-stressed concrete wall panels for nonresidential construction applications. Fabcon’s structural precast wall panels are used primarily in the construction of warehouses and distribution centers as well as mixed-use office, industrial, data centers, and retail facilities. Fabcon Precast was established in 1970 and is based in Savage, Minnesota.

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Buyer(S) 1

DESCRIPTION

Solace Capital Partners is a private equity firm focused on proving equity and debt to lower middle-market US and Canadian companies facing complex situations. The Firm looks to invest $20 to $100 million per transaction in companies generating $50 million to $1 billion of revenue. Sectors of interest include industrial, consumer, energy, transportation, business services, financial services, technology, media, and telecommunications. Solace Capital Partners was established in 2013 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 2 of 4
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 2 of 4
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-03 CST Industries

Kansas City, Kansas, United States

CST Industries is a manufacturer and erector of factory coated metal storage tanks. CST's product offering includes bolted and factory welded tanks for use in a wide variety of applications, aluminum geodesic domes, and agricultural feed and waste storage systems. CST Industries was established in 1893 and is based in Kansas City.

Buy $93M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Acceleration Community of Companies

Los Angeles, California, United States

Acceleration Community of Companies is a provider of acquired marketing, media, and communications agencies and complemented by an advisory service. Acceleration Community of Companies was founded in 2018 and is based in Los Angeles, California.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 53 of 78
Sector (Building Materials) 2 of 4
Type (Secondary Buyout) 13 of 21
State (Minnesota) 3 of 3
Country (United States) 45 of 65
Year (2018) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Yak Access

Columbia, Mississippi, United States

Yak Access provides temporary roadway solutions to remote construction sites, primarily serving the oil and gas pipeline and powerline sectors in the United States. The company comprises three related businesses – Yak Mat, New South Access and Environmental Solutions, and BluRoc – offering a full suite of solutions, including hardwood mats, temporary and permanent access roads, site evaluation, design and installation of access plans, and mat removal. Yak Access was founded in 2016 and is based in Columbia, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 BlueLine Rental

Shippensburg, Pennsylvania, United States

BlueLine Rental LLC is a provider of rental equipment services in North America, offering comprehensive lines of earthmoving, aerial and other construction equipment to service its customer base across multiple end markets, including the industrial, energy, infrastructure, nonresidential and residential construction, and non-construction markets.

Sell $2.1B