Anniston, AL – Druid Capital Partners, LLC (“Druid Capital”) today announced that it has completed the majority acquisition of Blastcrete Equipment Company (“Blastcrete”), a manufacturer of concrete mixing, pumping and spraying equipment, and pavement maintenance and asphalt sealcoating equipment for a variety of customers. Druid Capital is partnering with the existing Blastcrete management team of Jim Farrell, Tripp Farrell, and Scott Knighton, who will retain equity in the company. Tripp Farrell will continue serving as President, and Scott Knighton has been named Vice President and Chief Financial Officer.
Headquartered in Anniston, Alabama, Blastcrete provides mixing, pumping and spraying equipment for the refractories market, for gunite applications, and for gypsum, plaster and other industries with similar needs. Through its Neal Equipment Division, the company manufacturers a variety of asphalt sealcoating equipment. It serves a global customer base ranging from small, privately owned businesses to Fortune 500 companies.
Jim Farrell, CEO of Blastcrete, said, “This partnership with Druid Capital will allow us to continue serving our existing customers and product lines, but also aggressively pursue growth opportunities, both organically and through acquisition. I am also transitioning more responsibility and ownership to Tripp and Scott who have worked very hard alongside me for years.”
Martin Holt, Managing Partner with Druid Capital, said, “We are extremely excited to have Jim, Tripp, and Scott as partners. Jim has done an amazing job establishing and growing Blastcrete in recent years, and more importantly, he has prepared two very capable executives in Tripp and Scott who we expect will do very well leading the company going forward. It is very gratifying to be part of a transaction like this, where numerous financial and strategic goals are achieved.”
About Blastcrete Equipment – Blastcrete was founded in 1950 in Los Angeles, CA. Beginning exclusively as a manufacturer of refractory material pumps, Blastcrete now manufactures mixers, pumps, sprayers, parts, and accessories for a variety of industries serving customers around the globe. For more information, please visit www.blastcrete.com and www.nealequip.com.
About Druid Capital Partners – Formed in 2015, Druid Capital Partners is a boutique investment manager focused on investing in private companies in the Southeast, targeting specialty manufacturing, distribution, and industrial services. Druid Capital invests via majority acquisitions and recapitalizations in established companies alongside motivated, entrepreneurial owners and managers, providing a reliable, trusted, and local source of equity capital. For more information, please visit www.druidcapital.com.