Sun Capital Partners has agreed to sell StonePoint Ultimate Holding to Arcosa, a provider of infrastructure-related products and solutions. StonePoint is a top-25 U.S. aggregates company that provides crushed stone, sand and gravel to diverse end markets, including infrastructure, commercial and residential construction and energy.
BOCA RATON, FL – March 23, 2021 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that its affiliate has signed a definitive agreement to sell StonePoint Ultimate Holding, LLC and affiliated entities (“StonePoint” or “the Company”) to Arcosa, Inc. (NYSE: ACA) (“Arcosa”), a provider of infrastructure-related products and solutions.
StonePoint is a top-25 U.S. aggregates company that provides crushed stone, sand and gravel to diverse end markets, including infrastructure, commercial and residential construction and energy. The company operates across nine states in the Gulf Coast, Midwest and Southeast regions, producing approximately 9.0 million tons of aggregates annually and offers complementary asphalt production and paving services in certain markets.
“Our work with StonePoint underscores our strength in partnering with outstanding management teams to drive market share growth, enhance operations and capitalize on new opportunities,” said Marc Leder, co-CEO of Sun Capital. “We worked closely with the StonePoint team to complete three strategic acquisitions that provided substantial financial and operating synergies and strengthened the Company’s competitive position.”
StonePoint, a carve out of a publicly-traded energy company, was acquired by an affiliate of Sun Capital in December 2018.
“Sun Capital has been a great partner, not just in building StonePoint as a standalone business, but also in accelerating our growth over the past three years,” said Colin Oerton, Chief Executive Officer of StonePoint. “The expansion of our footprint and the healthy pipeline of projects we have developed made us a very attractive acquisition target for strategic buyers.”
“We are very pleased that we were able to apply our extensive experience in industrial businesses to grow StonePoint and achieve this positive outcome for the Company and our investors,” added Jeremy Stone, Managing Director at Sun Capital. “We continue to actively pursue opportunities in the infrastructure and building products sectors, where we can partner with outstanding management teams to accelerate value creation.”
Other Sun Capital portfolio companies in the industrials sector include Ames Drywall Finishing Tools & Services, Arrow Tru-Line and Trulite.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 420 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The Firm has built a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the Business Services, Consumer, Healthcare, Industrial, and Technology sectors. The Firm has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London. For more information, please visit www.suncappart.com.