Lincoln International’s Building and Construction Group Announces the Sale of The D.S. Brown Company to Altus Capital Partners
CHICAGO – September 3, 2008 – Lincoln International’s Building and Construction group announced the sale of The D.S. Brown Company (“D.S. Brown” or the “Company”) to Altus Capital Partners, a private equity firm headquartered in Westport, Connecticut. Lincoln International, a leading mid-market investment bank and the most active mid-market firm in the building and construction space, acted as the exclusive financial advisor to D.S. Brown, overseeing all preparatory, marketing, due diligence and closing phases, and working directly with the Company and Altus Capital Partners to complete the transaction. Terms of the transaction were not disclosed.
Founded in 1890, D.S. Brown is the nation’s leading manufacturer of function-critical components, including expansion joints and structural bearings for bridges, highways and airfield pavement structures. 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. The Company is headquartered North Baltimore, Ohio and conducts business throughout North America, Asia and the Middle East.
Andrew Bohutinsky, Managing Director and Global Head of Lincoln International’s Building and Construction Group, noted “This transaction represents yet another example of private capital sources taking advantage of the many opportunities to invest in companies that build and maintain the nation’s ailing infrastructure, which has been brought to the forefront of the national consciousness because of several recent high-profile failures of transportation structures. My team and I at Lincoln International have been following this trend for some time and see it continuing and gaining strength for the foreseeable future.”
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.”
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.”
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, UK pension advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright in China and ICICI Securities, Inc. in India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com
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