Vossloh Group has completed its acquisition of Rocla Concrete Tie, Inc., from Altus Capital Partners, a U.S.-based investment firm.
The contract for the acquisition of Rocla was signed on December 5, 2016; following obtainment of all relevant merger control clearances, the acquisition closed on Jan. 3, 2017.
“We have been fortunate to work with Altus Capital Partners in strengthening Rocla’s growth platform over the last three years,” said Peter Urquhart, Rocla’s CEO. “Russ Greenberg and his team brought more than just financial resources to the relationship; they worked hand in hand with our management team on both strategy and tactics, demonstrating their commitment to our growth as real partners.
Russell Greenberg, managing partner of Altus Capital Partners, offered his thanks on behalf of Atlus to Rocla’s management team under Urquhart’s leadership for building the business in a “substantial manner” throughout recent years.
“[Rocla] has been an important investment for Altus and we wish Vossloh much future success with the addition of Rocla Concrete Tie,” Greenberg said.
Representatives say Rocla generated sales of US$88.2 million in fiscal year 2015-16. Rocla will operate as “Vossloh Ties Technologies” going forward, working within the core components division, and is on track to be the division’s second business unit alongside Vossloh Fastening Systems.
“The acquisition of Rocla enhances our profile as a provider of integrated comprehensive solutions for rail infrastructure customers while at the same time strengthening our position in the focus market USA,” said Hans M. Schabert, CEO of Vossloh AG. “Rocla is firmly established in the U.S. market and serves the most important customers in the U.S. rail industry. We would like to extend a warm welcome to our new employees as part of the Vossloh Group.”