Connecticut-based private equity firm Altus Capital Partners completed the sale of its D.S. Brown Co., a provider of safety-critical transportation infrastructure products, to Gibraltar Industries, Inc. According to a statement from Altus, the 28 months of the PE firm’s ownership, D.S. Brown increased its revenues by 35% and its EBITDA by 133 percent. Specifics of the transaction were not publicized.
Westport, CT, April 1,2011– Altus Capital Partners, Inc. (“Altus”), a leading private equity investment firm focused on niche middle market manufacturing companies in the U.S., today announced the closing of the sale of The D.S. Brown Company, a leading provider of safety-critical transportation infrastructure products, to Gibraltar Industries, Inc. (Nasdaq: ROCK), a manufacturer and distributor of products for building and industrial markets. It was Altus’ second sale of a portfolio company to a public company in less than a year. The transaction was valued at $96 million.
Altus acquired D.S. Brown, based in North Baltimore, Ohio, in 2008 in a partnership with company management and other investors. During the 28 months of Altus’s ownership, D.S. Brown increased its revenues by 35% and its EBITDA by 133%.
Greg Greenberg, Founder and Senior Partner, Altus Capital Partners, said, “The D.S. Brown management team made all of the right moves in executing an exciting growth strategy that leveraged the global need for highly engineered but cost-efficient infrastructure construction components.”
Kirk Feuerbach, President and CEO of The D.S. Brown Company, said,“Greg and the Altus team made a great partner with our team as we worked hard to implement our growth strategy, both organically and through acquisitions.”
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.
About Altus Capital Partners
Based in Westport, CT, Altus Capital Partners, Inc. invests alongside management in profitable small to medium-sized manufacturing companies to help seize growth opportunities and solve succession challenges. The partners of Altus Capital Partners have worked together for 12 years, refining a disciplined approach toward creating shareholder value by acquiring and growing unique manufacturing companies in the U.S. For more information on Altus, please visit www.altuscapitalpartners.com.