Monomoy Acquires Cast-Crete, a Leading Precast Building Products Manufacturer and Distributor

NEW YORK--(BUSINESS WIRE)--Monomoy Capital Partners, a middle-market private investment firm focused on operational value creation for industrial and consumer product businesses, announced today that it acquired Cast-Crete Holdings, LLC. The transaction closed in November 2021; transaction terms were not disclosed.

Cast-Crete is the nation’s largest manufacturer and distributor of precast and prestressed concrete lintels and sills. Founded in 1955, Cast-Crete pioneered the use of precast concrete lintel products, which has become the industry standard for residential and commercial buildings. A vertically-integrated company, Cast-Crete delivers its manufactured precast products, along with sourced complementary items, directly to its customers’ job sites. Headquartered in Seffner, Florida, Cast-Crete has nine distribution locations across the state of Florida to support its customers.

The company’s Chief Executive Officer Jim Connelly will continue to lead from the corporate headquarters. “As we embark upon a new chapter with the support of Monomoy, I am confident that we will continue to supply high-quality products that support our customers and realize significant growth opportunities for the business going forward,” said Mr. Connelly. “I look forward to building upon our historical success and leveraging Monomoy’s operational toolkit to help us continue to optimize and grow our business.”

Monomoy Partner Jaime Forsyth remarked, “Jim and his team have done a terrific job of building Cast-Crete into the industry leader. We are excited to partner with the team and continue its long history of attractive growth. Cast-Crete’s valuable customer relationships, scale and unmatched asset base should position the company to benefit from new housing demand in the Southeast for years to come.”

Stephen Gulotta of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo P.C. provided legal counsel to Monomoy on the acquisition. Cerberus Capital Management provided financing for the transaction. Christian Mangelsen of Alvarez & Marsal Transaction Advisory Group, LLC served as Monomoy’s accounting advisor on the acquisition.

BlackArch Partners served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Cast-Crete.

About Monomoy

Monomoy Capital Partners is a private investment firm with over $2.7 billion in assets under management. Monomoy invests in the equity and debt of middle-market businesses that can benefit from operational and financial improvement with a focus on manufacturing, distribution and consumer product businesses in North America and Europe. Please see our website at www.mcpfunds.com for further information concerning Monomoy and its portfolio companies.