Graycliff Partners Declares Landmark Structures Sale to Cerberus

Graycliff Partners Announces the Sale of Landmark Structures

Graycliff Partners LP has revealed its decision to sell Landmark Structures, an esteemed provider of water and industrial storage infrastructure solutions, to Cerberus Capital Management, a robust investment firm with a global reach. Landmark Structures specializes in designing, manufacturing, and installing elevated water tanks tailored for municipalities and private water utilities across North America.

Significant Growth Under Graycliff's Ownership

Since Graycliff acquired Landmark in 2022, the company has experienced remarkable growth. This growth can be attributed to Graycliff's commitment to strategic investments in personnel, technology, and equipment. These targeted enhancements have not only increased Landmark's operational capacity but have also significantly boosted its efficiency. The company has been able to observe a strong demand for its water storage solutions, primarily driven by aging infrastructures in vital regions and the continuous expansion of the population.

Strategic Initiatives Fuel Advancements

Graycliff's strategic approach also included an emphasis on mergers and acquisitions, most notably guiding Landmark through a successful integration of a specialized tank coatings business. This strategic acquisition has successfully doubled Landmark's aftermarket repair and maintenance offerings, showcasing Graycliff's foresight and expertise in developing business growth strategies.

Leadership Insights on the Transition

Andrew Trigg, Managing Partner at Graycliff, expressed enthusiasm about the partnership and the journey with Landmark. He reflected, "Our collaboration with Chris and the dedicated team at Landmark has been gratifying. The foundation we've built together enhances Landmark's longstanding reputation in the market. With this sale, we are optimistic about the company’s capacity for further growth and innovation in storage infrastructure moving forward."

Endorsements from Landmark's CEO

Chris Lamon, CEO of Landmark, echoed similar sentiments about the successful partnership with Graycliff. He stated, "Graycliff has proven to be an exemplary partner, providing both reliability and strategic guidance that has been essential for accelerating our growth trajectory. We are eager to embark on this next chapter with Cerberus, as we continue to enhance our offerings and expand our market footprint."

Advisory Team for the Transaction

In this transaction, Houlihan Lokey played the role of financial advisor while Weil, Gotshal & Manges LLP served as legal counsel. Their expertise has been vital in ensuring a smooth and successful sale process.

About Graycliff Partners

Graycliff Partners is an investment firm focused on targeting lower middle-market investments primarily in manufacturing, business services, and value-added distribution sectors. Graycliff's commitment is to provide capital for various strategic needs including acquisitions, management buyouts, recapitalizations, and growth initiatives. This dynamic approach demonstrates the firm’s expertise in nurturing companies to reach their full potential.

About Landmark Structures

Established in 1970 and based in Fort Worth, Landmark Structures stands as an important player in the water and industrial storage infrastructure sector. The company has established a substantial footprint in engineering, design, and manufacturing, alongside asset management services. Notably, Landmark pioneered the development of Composite Elevated Tanks (CETs), establishing themselves as a key supplier for water utilities and municipalities. Their reputation in the industry is bolstered by a commitment to safety, technical excellence, and reliability.

Frequently Asked Questions

What type of company is Graycliff Partners?

Graycliff Partners is an investment firm specializing in lower middle-market investments, focusing primarily on manufacturing and business services.

Who acquired Landmark Structures?

Landmark Structures was acquired by Cerberus Capital Management, a global investment firm.

What significant changes occurred at Landmark under Graycliff's ownership?

During Graycliff's ownership, Landmark experienced significant growth through strategic investments and acquisitions, enhancing its operational capacity and service offerings.

What products does Landmark Structures offer?

Landmark Structures offers specialized water tanks and industrial storage infrastructure solutions, including the innovative Composite Elevated Tanks (CETs).

Who provided advisory services during the sale?

Houlihan Lokey served as the financial advisor for the transaction, while Weil, Gotshal & Manges LLP acted as legal counsel.

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