Contact Information: Media Contact: For Altus Capital Partners Greg Miller Marketcom PR 212-537-5177
Altus Capital Partners Acquires The D. S. Brown Company, the Leading Manufacturer of Specialty Components for Bridges, Highways and Airfield Pavement Structures, to Take Advantage of Opportunities to Revitalize Public Infrastructure
| Source: Altus Capital Partners
WESTPORT, CT--(Marketwire - September 2, 2008) - Altus Capital Partners, a
leading investment firm focused on middle market manufacturing companies in
the U.S., today announced that it has acquired The D. S. Brown Company, the nation's
leading manufacturer of specialty components for bridges, highways, and
airfield pavement structures. Terms of the transaction, which was made
with its co-equity investors and company management, were not disclosed.
Headquartered in North Baltimore, Ohio, D. S. Brown conducts business
throughout North America, Asia and the Middle East. D .S. Brown is a
leading supplier on major infrastructure revitalization projects in the
U.S., including the San Francisco Oakland Bay Bridge, Tacoma Narrows
Bridge, Carquinez Bridge in the San Francisco Bay area and the recently
secured I-90 Homer Hadley Memorial floating bridge in Seattle, which
utilizes the company's proprietary Maurer Swivel Joint system.
Kirk Feuerbach, D. S. Brown's President and CEO, said, "We are extremely
excited about the opportunity of working with Altus Capital Partners to
create additional value through continued organic growth and acquisitions.
The company and its employees have worked extremely hard to become the
industry's most respected name. Combining that with our new partnership
with Altus will allow us to further enhance our reputation, products and
value to our customers, employees and shareholders. We are looking forward
to a rewarding relationship."
Over its 118 years of continuous operation, Mr. Feuerbach noted that D. S.
Brown has developed superior brand recognition along with the best
reputation in the transportation infrastructure industry. He added, "In
addition to being recognized for providing high-quality components for new
construction and rehabilitation projects, D. S. Brown is also proud of its
unparalleled reputation for meeting customers' critical path delivery
schedules in this environment of fast track construction."
Greg Greenberg, Senior Partner of Altus and D.S. Brown's new Chairman,
commented, "Altus is pleased to partner with the D.S. Brown management team
in acquiring the nation's leading manufacturer of specialty components for
road and bridge infrastructure. D.S. Brown has a long tradition of
manufacturing and delivering superior value through highly engineered niche
products that exceed customer expectations. We recognize and value
management's depth of capabilities, which has earned D.S. Brown its
industry leadership position. We look forward to working with and
supporting management to expand upon this legacy."
Mr. Greenberg noted that D.S. Brown has the industry's broadest line of
expansion joint and structural bearing products with solutions suitable for
every type of bridge system. "Given the condition of our nation's aging
infrastructure, D.S. Brown is well positioned for growth," he added. "Over
80% of the company's business is driven by rehabilitation and refurbishment
of existing infrastructure in the U.S. Current growth looks to continue as
the country's infrastructure in general and the Interstate Highway system
specifically continues to age and deteriorate over time. At the same time,
the D.S. Brown management team will continue to pursue international growth
opportunities in key markets in Asia including China, Taiwan and South
Korea as well as the Middle East that are investing heavily in
infrastructure to meet the needs of the global economy."
About The D.S. Brown Company
Founded in 1890, The D.S. Brown Company is a leading worldwide designer,
supplier and manufacturer of engineered products for the bridge and highway
industry. D.S. Brown's home office and manufacturing facilities are
located in North Baltimore, Ohio. D.S. Brown is fully integrated,
performing and controlling all manufacturing processes internally,
including Research and Development; Engineering Design/CAD Detailing;
Extruding, Molding, and Testing; and Custom Steel Fabrication and
Machining. Website: www.dsbrown.com.
About Altus Capital Partners
Based in Westport, CT, Altus Capital Partners invests alongside management
in profitable small to medium-sized manufacturing companies to help seize
their current growth opportunities and solve succession challenges. With
over 50 years of combined structured finance experience, Altus' investment
partners utilize their extensive knowledge to optimize the value of a
company through structured buyouts,
recapitalizations, consolidations and divestitures. Website:
www.altuscapitalpartners.com.