Minneapolis-based Fabcon acquires Kerkstra Precast effective March 31st, 2021. Fabcon Precast is a Minneapolis-based company and is a leading provider of structural precast wall panels. Kerkstra Precast is a Michigan corporation.
Kerkstra began in 1962. It is the leading producer of high-quality precast and prestressed concrete products in Michigan. From its two state-of-the-art manufacturing facilities in Grand Rapids and Detroit, Kerkstra serves the industrial, commercial, residential, and infrastructure markets across the Midwest. Its comprehensive product offering includes structural and architectural wall panels. It also includes hollowcore planks, beams, columns, double tees, stairs, and other specialty products.
“For 59 years, Kerkstra has built a reputation as a trusted partner, providing total precast solutions to its broad customer base,” said Mike Rafi, Chief Executive Officer of Fabcon. “We are delighted to welcome Kerkstra to the Fabcon family.”
With the addition of Kerkstra, Fabcon strengthens its position as the precast market leader in the Midwest. The company will offer an expanded portfolio of products. It will operate out of seven total manufacturing locations throughout Minnesota, Michigan, Kansas, Ohio, Pennsylvania, and New York. Fabcon provides end-to-end integrated capabilities, from engineering and design to production, project management and construction.
“This transaction is an excellent opportunity for Kerkstra and its employees to align with Fabcon, and we are excited to integrate with the Fabcon team,” said Greg Kerkstra, President and CEO of Kerkstra Precast. “We are confident that together the Kerkstra business will continue to thrive under Fabcon.”
“We are excited about the acquisition, which is part of the continuing transformation of Fabcon. Additionally, We look forward to working with Greg and the Kerkstra team as Fabcon continues to expand into complementary products and markets, allowing us to provide a total precast solution,” said Brian Moody, Operating Partner at Solace Capital Partners.
Solace Capital Partners
Solace Capital Partners is a private investment firm that focuses on constructive investing in lower-middle market companies in the United States. The partners provide both flexible equity and debt solutions for established businesses. They also seek to leverage its extensive expertise to provide financial stability and lead operational improvements and drive performance growth in its portfolio companies. It also aims to generate attractive risk-adjusted returns for its investors. Solace’s principals have an average of 25 years of relevant investing experience across various sectors. Additionally, Solace has invested over $5 billion across over 100 companies. Launched in 2014, the firm has approximately $480 million of assets under management and is also headquartered in Los Angeles.
About Fabcon
Founded in 1971, Fabcon is a leading provider of structural precast wall panels. During its 50 years, the company has expanded capabilities, grown markets and pioneered multiple precast panel firsts. It currently operates out of five manufacturing facilities and also delivers product to nearly all the 48 contiguous states. To contact either one of Fabcon’s offices or sales and product professionals nationwide, visit FabconPrecast.com or call (800) 727-4444.
