Concrete Products

OCT 2018

Concrete Products covers the issues that attract producers of ready mixed and manufactured concrete focusing on equipment and material technology, market development and management topics.

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20 • October 2018 www.concreteproducts.com NEWS SCOPE PRESTRESSED Solace Capital Partners has purchased a majority interest in Fabcon Holding Corp. from fellow Los Angeles investor Platinum Equity, which acquired the Minnesota-based precast/prestressed concrete wall panel producer in 2016 and maintains a minority stake. Fabcon serves the eastern half of the U.S. through strategically-lo- cated operations in Minnesota, Ohio, Pennsylvania and Kansas. Its structural and architectural wall panels are used in the construction of warehouses and distribution centers, plus office, industrial, data center and retail facilities. Fabcon is "a trusted partner to a broad array of building owners and developers and provides its blue-chip customers with a comprehensive and integrated service offering that includes engineering, fabrication, erection and project management," Solace Capital notes. "Fabcon is a strong market leader with a unique customer value proposition, providing best-in-class quality and service within the nonresidential construction industry, including to the rapidly-ex- panding warehouse and distribution center sectors supporting the nation's secular shift to ecommerce," adds Managing Partner Chris Brothers. "We are delighted to be partnering with Fabcon's seasoned management team and Platinum Equity as the company seeks to accelerate its growth and expansion plans." Assessing Fabcon performance under his firm's ownership, Plati- num Equity Principal Dan Krasner observes, "The company expanded its capacity, installed best practices, and substantially increased rev- enue and earnings. Fabcon is a strong platform for continued growth with many attractive opportunities ahead." "Solace Capital brings additional resources and operational focus as well as a demonstrated track record of building long-term value for its portfolio companies," affirms Fabcon CEO Tom Kuckhahn. "Plat- inum Equity continues to be a strong supporter of our vision for growth." Investor acquires controlling Fabcon stake from Los Angeles peer Fabcon's Savage, Minn., headquarters, just south of Minneapolis. PHOTO: Concrete Products Precast/ Prestressed Concrete Protection and Restoration | Concrete & Masonry Admixtures Fiber Reinforcement | Decorative Concrete | Mining & Underground Products Solutions for the Concrete Industry

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