The Spancrete Group, Inc. sells to Wells Concrete Products
Learn how Baker Tilly Capital worked with The Spancrete Group, Inc. to identify the right strategic partner to help continue the company’s growth trajectory.
Client need
The Spancrete Group, Inc. (Spancrete) is a third-generation, full-line company owned by the Nagy family for 75 years. One of the largest precast concrete manufacturers in the U.S., Spancrete operates precast manufacturing facilities in Wisconsin, Illinois and Florida. The company also supplies and installs prefabricated concrete building solutions and related equipment. They offer a full suite of project management services, from conception and design to precast manufacturing and building life maintenance. As a long-standing audit client of Baker Tilly US, Spancrete knew they could trust Baker Tilly Capital with maintaining confidentiality. The family wanted to minimize any potential disruptions to the business and carefully manage any communication regarding the eventual acquisition with employees, customers, and suppliers.
Baker Tilly Capital solution
Baker Tilly Capital worked closely with the Spancrete team to develop a sale process and positioning strategy for the business, performing thorough, upfront analysis to ensure any concerns from potential buyers could be addressed. With a deep understanding of the manufacturing and distribution industry, our team tailored a targeted marketing process, focused on potential buyers that met the criteria set by the Nagy family. The family wanted to identify a partner that would continue to build on the company’s legacy of innovation; help drive continued growth; and shared similar core values of quality, service and durability. Spancrete also utilized Baker Tilly US to provided tax planning services and support for this transaction.
Results
With their strong Midwest reputation, Wells Concrete Products (Wells) emerged as a strategic partner. Wells will continue the success Spancrete has achieved in both precast solutions and machinery equipment production, and can focus efforts on growing the business for greater market penetration. With this acquisition, Wells’ footprint will stretch from Canada to New Mexico, and Colorado to Indiana. Spancrete’s precast plants in Wisconsin, Illinois and Florida, as well as their machinery operation in Wisconsin, will all remain in operation.
For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.