Private equity investor The Anderson Group has acquired the assets of concrete masonry and landscape products manufacturer Oberfields through an out-of-court restructuring. Oberfields is based in Columbus, Ohio. Terms of the deal were not released. The deal is the fourth transaction completed by Anderson Group in the past year.
The Anderson Group, LLC, an operationally focused private equity firm, has partnered with management and existing ownership to purchase the assets of Columbus, Ohio-based concrete masonry and landscape products manufacturer Oberfields, Inc., through an out-of-court restructuring.
This represents the fourth transaction Anderson has completed in a 12-month period involving a broad range of companies with varying degrees of financial health.
“We are pleased to partner with a leadership team that is working to discover new solutions for its customers, utilizing industry-leading operating capabilities and valuable industry relationships,” said Barry Shapiro, partner, The Anderson Group. “We believe our capital investment and partnership with management will play a significant role in maintaining the company’s market position and set the stage for growth opportunities as Oberfields enters its second 50 years.”
“We find this relationship compelling as we are able to complement Oberfields’ legacy of premium products with a strategic and committed partner in Anderson,” said Bill Oberfield, chief executive officer, Oberfields.
According to Shapiro, Oberfields was over-leveraged after implementing a turnaround plan and although the company was profitable, it had limited access to necessary capital.
All of The Anderson Group’s transactions completed within the past year — including Latina Boulevard Foods, LLC, Perfect Fit Industries, Inc. and Thayer Power and Communication — have fit well with the private equity firm’s strategic investment philosophy. The Anderson Group utilizes an operationally-focused investment strategy to target opportunities in middle market sized niche manufacturing, distribution and service-based businesses. Anderson continues to seek add-on investment opportunities to strengthen its long-term partnerships.
Established in 1961, Oberfields’ operates six manufacturing plants that produce concrete blocks and other masonry and landscape products that are used in landscaping applications and both commercial and residential construction. The company markets these products, in addition to a suite of complementary products that are purchased for resale, through both direct and dealer sales channels throughout Ohio and five neighboring states. As a result of its long history of dedicated customer service and high quality products, Oberfields is recognized as a leading block manufacturer in its region. For more information about Oberfields, visit www.oberfields.com.
About The Anderson Group
Founded in 1985, with offices in the United States and China, The Anderson Group is an operationally oriented private equity firm that invests its own equity capital in companies at the lower end of the middle market, where its operating expertise can be leveraged to generate significant profitability improvements. Investing its own capital, rather than institutional funding, the group is well positioned to partner with companies for long-term growth.