|By Marketwired .||
|July 9, 2014 04:06 PM EDT||
ATLANTA, GA -- (Marketwired) -- 07/09/14 -- Tensar Corporation, the global leader in geosynthetic site development technology, announced today that it has been acquired by Castle Harlan, Inc., a New York-based middle-market private equity firm.
"By inventing and bringing to market superior cost and technically performing soil and pavement stabilization solutions, Tensar Corporation, through its Tensar International Corporation, Geopier Foundation Company and Tensar North American Green business units have grown into a worldwide provider for key infrastructure markets, including transportation, commercial, residential, industrial and municipal properties, environmental, mining and well sites," said Don Meltzer, president and CEO of Tensar Corporation. "Castle Harlan's confidence in us is a testament to our market leadership and the Company's tremendous prospects for growth. This transaction brings with it in Castle Harlan a true partner who understands the value Tensar brings."
Founded in 1987, Castle Harlan, Inc. is a global private equity firm focused on making control investments in middle-market companies. The firm is based in New York City and has offices in Sydney and Singapore through its global affiliate CHAMP Private Equity. Since its inception, Castle Harlan has participated in eight private equity funds, five in the United States and three in Australia. Those funds totaled approximately $6.0 billion in capital commitments. Castle Harlan seeks to partner with the management teams of established companies with strong, defendable market positions and competitive advantages. These companies have often exhibited moderate historical growth with an opportunity to accelerate through domestic and global expansion.
Tensar Corporation was previously owned by Arcapita Inc., a global investment group, which acquired Tensar Corporation in 2005. Tensar and its subsidiaries will continue to adhere to their core businesses, which, together, deliver engineered systems that are a combination of technology, engineering, design and products.
About Tensar Corporation
Headquartered in Atlanta Tensar Corporation is a full-service provider of specialty products and engineering services that offer innovative and cost-effective alternatives to traditional construction methods. Tensar solutions are based on advanced soil reinforcement technologies and incorporate proprietary, engineered applications for commercial, industrial, municipal, residential and transportation infrastructure site development. The company specializes in solutions for common site development challenges, including grade changes requiring retaining walls and poor soil conditions affecting the cost of roadways, parking lots and building structures. Patented, polymeric Tensar® Geogrids and Tensar's Geopier® foundation reinforcement piers, and various Tensar North American Green erosion control products, are the primary components of the company's systems, offering reliable strength and durability. Contracted services include site evaluation, conceptual engineering, design, value engineering and installation advice. For more information, visit http://www.tensarcorp.com.
About Castle Harlan
Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle market companies worldwide. The Castle Harlan team of 18 investment professionals has completed 54 acquisitions with more than 43,000 employees and total transaction value in excess of $11 billion. Castle Harlan, along with its affiliates, has managed investment funds with equity commitments of over $6 billion. The firm traces its roots to the start of the institutionalized private-equity business in the late 1960s. Since 1999 Castle Harlan has invested in Australia and Southeast Asia with its affiliate CHAMP Private Equity in Sydney and Singapore.
Castle Harlan's current portfolio companies include Shelf Drilling, the leading global independent provider of shallow water jack up drilling rig services; Baker & Taylor, the world's largest distributor of books and entertainment products to libraries and retailers; and, Gold Star Foods, the leading nutritional food distributor to K-12 schools in California, Arizona and Nevada.