Graycliff Partners Announces Sale of Landmark Structures

NEW YORK--(BUSINESS WIRE)--Graycliff Partners LP today announced the sale of Landmark Structures (“Landmark”), a leading provider of water and industrial storage infrastructure solutions, to Cerberus Capital Management, L.P. (“Cerberus”), a global investment firm. Landmark is a leading designer, manufacturer, and installer of elevated water tanks for municipalities and private water utilities in the U.S. and Canada.

Landmark has achieved impressive growth since Graycliff acquired the business in 2022. Graycliff supported key investments in people, systems, and equipment aimed at driving growth, increasing capacity, and improving operational efficiency. These initiatives enabled Landmark to capitalize on the strong demand for water storage solutions in key geographies marked by aging infrastructure and continued population expansion. Graycliff also completed strategic M&A, guiding the company through the acquisition and integration of a specialized tank coatings business that helped to double Landmark’s aftermarket repair and maintenance services business.

Andrew Trigg, Managing Partner at Graycliff, said, “We have greatly enjoyed working alongside Chris and the team at Landmark to build upon the company’s impressive history and strong reputation. We believe the company is well positioned to continue to grow and drive further innovation in storage infrastructure. We look forward to seeing what the team will achieve with Cerberus’ support.”

“Graycliff proved to be a reliable, trustworthy partner whose resources and strategic direction significantly helped to accelerate our growth,” said Chris Lamon, Landmark’s CEO. “With Graycliff’s support, we’ve built a strong foundation upon which to continue to expand our product and service offerings. We are looking forward to partnering with Cerberus to further grow the company in the years to come.”

Houlihan Lokey served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel.

About Graycliff Partners LP
Graycliff Partners is an investment firm focused on making lower middle market investments, typically in manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.

About Landmark Structures
Based in Fort Worth, TX and founded in 1970, Landmark is a provider of water and industrial storage infrastructure solutions, consisting of engineering & design, manufacturing, installation, and asset management services. Landmark invented and is a primary supplier of composite elevated tanks (CETs) for municipalities and private water utilities in the US and Canada. Landmark’s storage solutions are critical for ensuring a consistent, high-quality, secure water supply. Through its 50+ year history, Landmark has developed a strong reputation for its expertise in planning, engineering and construction, complex technical knowledge, and industry‐best safety standards. Learn more at www.teamlandmark.com.