LOS ANGELES--(BUSINESS WIRE)--Solace Capital Partners, L.P. (“Solace”), a leading private equity firm focused on providing creative capital solutions for middle market companies, today announced its portfolio company Fabcon Precast, LLC (“Fabcon” or the “Company”) has acquired the precast division of The Bristol Group, Inc. (“Bristol Precast”), a Lexington, Kentucky-based manufacturer of engineered precast and prestressed concrete products.
The Bristol Group is a design-build commercial construction firm and manufacturer of precast concrete wall panels and other structural products, serving customers in the industrial, multi-family, hospitality, commercial, corrections, and parking structure markets. Bristol Precast provides engineered precast and prestressed concrete products throughout Kentucky, Ohio, Indiana, Tennessee, Missouri, and West Virginia. Bristol Precast has offices in Lexington as well as a state-of-the-art production facility in Charlestown, Indiana. The purchase includes all aspects of the Bristol Precast business.
“Bristol Precast is highly complementary to Fabcon and shares the Company’s commitment to quality and end-to-end customer service. This transaction represents Fabcon’s ability to continue to execute attractive M&A opportunities and, importantly, expands the Company’s geographic footprint into the Mid-South market. We are pleased to support the Company as it strengthens its position as a leading provider of engineered, structural precast wall panels across a diverse range of end-markets,” said Christopher Brothers, Co-Founder and Managing Partner of Solace.
Since Solace’s initial investment in 2018, Fabcon has achieved significant growth, increasing both revenue and EBITDA by over 100%. The Company has expanded its footprint to eight locations – including through the acquisition of Kerkstra Precast in 2021, the brownfield development of the Selkirk, New York facility, which opened in 2022, and the acquisition of Bristol Precast – enabling Fabcon to service customers across 46 states and two Canadian provinces. Fabcon is led by a seasoned management team recruited by Solace, including 20-year industry veteran, Mike Rafi, who serves as Chief Executive Officer, and Brian Moody, previously a Solace Operating Partner, who serves as Chief Financial Officer.
About Solace Capital Partners
Solace Capital Partners is a Los Angeles-based private investment firm focused on providing flexible capital solutions for middle market companies in the United States and Canada. Solace seeks to form collaborative partnerships with management teams and leverage the firm’s extensive resources to realize operational improvements and drive performance in its portfolio companies while generating attractive risk-adjusted returns for its investors. For more information, please visit www.solacecap.com.
About Fabcon Precast
Founded in 1971, Fabcon is a leading provider of structural precast wall panels. During its 52 years, the company has expanded capabilities, grown markets and pioneered multiple precast panel firsts. It currently operates out of eight manufacturing facilities and delivers product to nearly all of the 48 contiguous states. For more information, please visit www.fabconprecast.com.