Framework Capital and Tecum Equity Partners have agreed to acquire Texas-based Gibraltar Cable Barrier Systems, a high-tension cable barrier system. The seller is Gibraltar Materials. No financial terms were disclosed.
HOUSTON–(BUSINESS WIRE)–Framework Capital, a middle market private investment firm, along with Tecum Equity Partners, a family office platform based in Pittsburgh, PA, today announced it has agreed to acquire Gibraltar Cable Barrier Systems, a division of Gibraltar Materials. Gibraltar Cable Barrier is the leading high-tension cable barrier system with installations in virtually every state in the United States and on 3 continents. The company will continue to use the Gibraltar Cable Barrier Systems brand and be headquartered outside of Austin, TX.
Ron Faulkenberry, a veteran in road safety products, will continue to serve as President of the Company, a position he has held for 12 years. “Gibraltar has an established track record of building great products. Our cable barrier system is viewed as the gold standard among high tension cable barriers and we are excited about this partnership that will facilitate our continued growth,” said Mr. Faulkenberry.
“Ron and the management team are world-class, which is to be expected because the Gibraltar Cable Barrier System is the preferred system of states and roadway contractors both domestically and internationally. We look forward to working alongside the team to create a bright future,” said Jerry McGee, Managing Director of Framework Capital.
Stephen J. Gurgovits, Jr., Managing Partner of Tecum Equity, added, “We are excited about our new partnership with Framework Capital and Gibraltar. We look forward to continuing to provide one of the world’s best engineered cable protection systems and to continue to make highway and roadway infrastructures safer in a more cost effective manner.”
Gibraltar Cable Barrier Systems will continue to be headquartered outside of Austin, TX with offices in Houston, TX and Santiago, Chile, which services international markets. Gibraltar Cable Barrier Systems will now use www.GibraltarGlobal.com as its website address.
ABOUT FRAMEWORK CAPITAL
Framework Capital makes equity investments in manufacturing, industrial and energy services companies. The Framework methodology focuses leadership on proven principles that, when implemented, result in a highly-engaged workforce. Framework is headquartered in Houston, Texas with an office in Newport Beach, CA. Additional information can be found at http://www.frameworkcapitalpartners.com
ABOUT TECUM EQUITY PARTNERS
Tecum Equity Partners is a committed fund backed by a family office, Western Allegheny Capital, focused on control equity acquisitions. The fund is managed by Tecum Capital Management, a private investment firm, which oversees over $450 million of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises. The firm is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs. Tecum Equity Partners is headquartered in Pittsburgh, Pa. For more information, please visit www.tecum.com.