Company Description
Consolidated Construction Products, Inc. (“CCP”), Culverts, Inc. (“Culverts”), and all related entities (collectively “Consolidated” or the “Company”) are a regional leader in the supply of concrete, drainage, and masonry products. Operating as one combined organization, Consolidated is comprised of two primary divisions, whereby CCP is the Company’s concrete wholesale supply division and Culverts is the Company’s drainage division. CCP, the Company’s concrete wholesale supply division, is headquartered in Andover, Ohio, and is comprised of 6 physical distribution locations in Michigan, Kentucky, Pennsylvania, and Ohio – and serves an 8-state area throughout the Great Lakes and surrounding regions. CCP has established itself as a regional leader in the supply of high-quality rebar, wire mesh, and other related concrete products to a diverse base of customers – including supply houses, pre-cast concrete producers, ready-mix concrete producers, tool & rental shops, and lumber yards. Culverts, the Company’s drainage division, is based in Coraopolis, Pennsylvania (~15 miles outside of Pittsburgh), and sells corrugated pipe, fittings, and other specialty drainage products. Culverts also provides custom fabricated retention systems, pond risers, and other Department of Transportation approved products. Culverts has established a loyal based of contractor and municipal customers in Southwestern Pennsylvania – and across the United States.
Services Provided
MelCap served as the exclusive investment banker and financial advisor to Consolidated through the transaction process. We would like to thank Ken Lance, the Company’s President and majority shareholder, as well as Consolidated’s other shareholders – Wayne Wagamon, Andy Nowakowski, Eric Williams, and Tom Surovey – for selecting MelCap to represent the Company in the recapitalization of the business. It was an honor and pleasure to work with the entire Consolidated team throughout this exciting process.
The Result
In an effort to achieve ownership’s goals and objectives, and to support the Company’s strategic growth plans, MelCap successfully facilitated a majority sale and recapitalization with the ideal partner for the business. As a result, Consolidated was recapitalized by Intuitis, a family office based in in Rye, New York. Intuitis acquires controlling interests or significant minority interests alongside the management team in well-established companies – and has concerted experience in both the concrete and drainage industries. Intuitis has acquired majority control of Consolidated, while certain members of the Company’s leadership team have maintained a reasonably significant minority interest moving forward.
Deal Team
We would also like to thank the deal teams from both sides that worked on this transaction. We could not have completed this transaction without your tireless efforts. Most notably, we’d like to thank the team at Taft Stettinius & Hollister – which served as legal advisor to Consolidated – and provided excellent counsel throughout the entire process. We would also like to thank Intuitis’ advisors, Fox Rothschild LLP and Santora CPA Group.
“The experience I had with MelCap was absolutely incredible – and is beyond something I can properly express is words. From the moment I met with them to closing has been an amazing journey. They were with me every step of the way – and consistently provided me with expert advice and guidance. As a result of the structured and organized sales and marketing process orchestrated by MelCap, my shareholders and I were presented with many viable opportunities to choose from – and ultimately helped us choose the perfect partner to move forward with in Intuitis. Seldom have I worked with an organization where every single person involved, from the CEO, to the Directors, to the Analysts, had such high integrity, and amazing knowledge of the M&A process… but also knew every detail about our business. I thank MelCap for the incredible journey – and could not recommend working with them enough!”
