Chicago, IL, August 9, 2018 – Rock Gate Partners (“Rock Gate”), a Chicago-based private investment firm, and its partners have entered into a definitive agreement to sell Walpar, LLC (“Walpar” or the “Company”) to Valmont Industries, Inc. (NYSE: VMI, “Valmont”), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture. Rock Gate recapitalized Walpar in July 2009 in partnership with Peninsula Capital Partners.
Walpar designs, engineers and fabricates complex overhead sign structures including truss, cantilever and gantry structures primarily for highway applications. During the period of Rock Gate’s and Peninsula’s ownership, the Company significantly expanded its operating footprint, revenue base and profitability through a combination of market-leading quality and customer service, design-build engineering leadership, the expansion of fabrication throughput and consistent process improvement and execution across all aspects of the business.
“The progress and success realized at Walpar over the years has been nothing short of remarkable. We don’t believe that we could have found a better partner for the Walpar team as the Company enters its next phase of growth under Valmont’s leadership.”
Kenneth Ali, Rock Gate Founder and Managing Director
Rock Gate currently seeks new investments in engineered and manufactured products, infrastructure products, business services, value-added distribution, e-commerce and specialty and organic food. Contact Kenneth Ali (312) 283-0631; or Steve Foutch (312) 283-0632 regarding new opportunities.
About Rock Gate Partners
Rock Gate Partners, is a Chicago-based private investment firm that acquires lower middle market, ‘mind share’ leaders with unique market positions. Areas of focus include: engineered and manufactured products, infrastructure products, business services, value-added distribution, e-commerce and specialty and organic food. Rock Gate partners with management teams in buyouts, corporate divestitures, recapitalizations, industry consolidations and later stage growth capital investments. Candidates typically generate $3 to $12 million in EBITDA and EBITDA margins in excess of 10%.
Founded in 1974, Birmingham, Alabama-based Walpar, is an industry leader in the design, engineering and manufacturing of overhead sign structures for the North America transportation market.
About Peninsula Capital Partners
Peninsula Capital Partners, is a Detroit-based investment company specializing in providing junior capital, including subordinated debt, preferred stock or common stock, either as a minority or control investor, to superior middle-market companies. With six investment partnerships totaling approximately $1.6 billion of committed capital, more than 120 investments have been made in a wide range of industries, including aerospace, manufacturing, information technology, industrial and professional services, consumer products, retail, food and distribution.
About Valmont (NYSE: VMI)
Valmont is a global leader, designing and manufacturing engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its irrigation equipment and services for large-scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.