Jordan Co LP said March 18 that it agreed to buy Sabre Industries Inc. Financial terms weren’t announced. Kohlberg & Co LLC is the seller. Management is also investing in the deal. Sabre, of Alvarado, Texas makes products for the utility and telecom markets, structures and complementary services for the electric transmission and wireless communication end markets. Kirkland & Ellis LLP acted as legal adviser to TJC. Houlihan Lokey Capital Inc and KeyBanc Capital Markets Inc were financial advisers to Sabre, while Paul, Weiss, Rifkind, Wharton & Garrison LLP was their attorney.
TJC Announces Agreement to Acquire Sabre Industries, Inc. in Partnership with Management
March 18, 2019 09:10 AM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–The Jordan Company, L.P. (“TJC”) today announced that an affiliate of The Resolute Fund IV, L.P. (“Resolute IV”) has entered into a definitive agreement to acquire Sabre Industries, Inc. (“Sabre” or the “Company”), in partnership with the existing Management team, from Kohlberg Investors VII, a fund managed by Kohlberg & Company, LLC (“Kohlberg”).
Founded in 1977 and headquartered in Alvarado, Texas, Sabre is a market-leading manufacturer of mission-critical products to the utility and telecom markets. The Company’s core offerings include highly-engineered structures and complementary services for the attractive electric transmission and wireless communication end markets, which are driven by the replacement of the aging utility infrastructure and the expansion, modification and densification of existing wireless networks. The Company has approximately 2,400 employees and five state-of-the-art, purpose-built manufacturing facilities that are strategically located throughout the United States.
Led by Chief Executive Officer Jim Ruddy, Sabre’s seasoned management team has over 80 years of combined leadership experience and deep relationships with its blue-chip customer base. TJC’s investment will provide the Sabre management team with significant resources as it continues realizing operational efficiencies and organic growth in the business.
“Sabre has a proven track record of providing the high-quality structures and related services that its discerning customers demand. As a result, the Company has seen consistent growth in its base of customers across North America,” said John Straus, Partner at TJC. “The Sabre management team has transformed the Company into a market leader that is well-positioned to capitalize on the long-term trends underpinning growth in the electric transmission and wireless communication markets. We look forward to partnering with the entire Sabre team to continue building the Company’s portfolio of premium products and services.”
“We are thrilled to announce our partnership with TJC as we believe there is a tremendous cultural fit between our organizations. The Sabre team is confident that TJC’s vision for our business, coupled with their significant resources, will help us accelerate the substantial momentum we established with Kohlberg in growing our utility and telecom infrastructure businesses,” said Jim Ruddy. “We look forward to working closely with TJC to achieve our strategic growth plan and to continue supporting our customers with the world-class products, engineering and service capabilities that they have come to expect from Sabre.”
“We are pleased that our partnership with the Sabre team has formed a differentiated market leader in the electric transmission and wireless end markets,” commented Benjamin Mao, Partner at Kohlberg. “We look forward to the continued growth and success of Sabre in partnership with TJC.”
Kirkland & Ellis LLP acted as legal advisor to TJC. Houlihan Lokey Capital Inc. and KeyBanc Capital Markets, Inc. acted as financial advisors to Sabre and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as its legal advisor.
For any questions, please contact Kristin A. Custar, Partner and Head of the Global Investor Capital Group at TJC, at (212) 572-0829.
About The Jordan Company, L.P.
TJC, founded in 1982, is a private equity firm with original capital commitments in excess of $11 billion and a 37-year track record of investing in and contributing to the growth of businesses across a wide range of industries. The senior investment team has been investing together for over 20 years and has completed over 120 platform investments and more than 300 add-on acquisitions. The investment team is supported by the Operations Management Group, which was established in 1988 to initiate and drive operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL. For more information, please visit www.thejordancompany.com.
About Sabre Industries, Inc.
In business since 1977, Sabre is a leading producer of highly engineered products used for electric transmission and distribution and wireless telecommunications, offering a complete customer solution with a full range of engineered towers, poles, structures and related services. The Company’s vast array of product offerings, services and extensive manufacturing capabilities has allowed Sabre to develop leading positions with a high-quality, diversified group of customers including the nation’s largest utilities and wireless communications firms. For more information, please visit www.sabreindustries.com.
About Kohlberg & Company, LLC
Kohlberg & Company, LLC (“Kohlberg”) is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised over $7.5 billion of committed equity capital. Over its 32-year history, Kohlberg has completed 76 platform investments and nearly 200 add-on acquisitions, with an aggregate transaction value in excess of $15 billion. For more information, please visit www.kohlberg.com.