NEW YORK, June 19, 2109 /PRNewswire/ -- T-street Capital, LLC ("T-street") announced today that it has made an additional investment into its portfolio company Simplex – Infrastructure Solutions, LLC ("Simplex") in order to complete the acquisition of Dayton Superior 's Paving Division ("Dayton"). This acquisition establishes Simplex as the leading manufacturer and supplier of highway infrastructure products and solutions throughout North America, and successfully positions the company for further expansion into ancillary products and services.
Dale L. Cheney, Managing Partner of T-street, and Sarah Bazey, Founder and President of Simplex, have assembled an accomplished board of directors with the addition of Jeffrey Hanes, former CEO of Carter-Waters, Steve Morrey, former CEO of Dayton Superior, and Mark Kaler who will take the helm as CEO to spearhead the integration. Cheney will serve as Chairman of the Board.
"This is an extraordinary opportunity to bring together the two most dominant players in the industry, and with such complimentary business models. We are integrating Simplex's best-in-class business development team and West Coast dominance, with Dayton's industry-leading manufacturing capabilities and Midwest and East Coast dominance," said Cheney. "Simplex is the only coast-to-coast and cradle-to-grave manufacturer and supplier of specialty reinforcing steel for concrete paving infrastructure in the United States."
Bazey added, "The company's product innovation and quality are unparalleled in the industry. Simplex's robust distribution and industry-leading manufacturing operations will allow flexibility to meet the demands of contractors and to provide consistent quality assurance for federal and state DOTs." The acquisition and combination with Dayton creates a combined footprint of 450,000 square feet under roof and 25 acres of capacity across four locations in Ontario, CA; Carlyle, IL; Kankakee, IL; and Minneapolis, MN.
About T-street Capital T-street is an independent growth equity firm that works in partnership with founders and management teams to grow their businesses through a combination of capital investment, acquisitions, and other opportunistic and strategic initiatives. We can do both minority and control investments in lower middle market companies based in North America. We focus on three sectors: consumer products, food & beverage, and specialty manufacturing. We generally look for platform companies with EBITDA of $3 million to $15 million. For more information, please visit our website at www.t-street.com.