News

BY LAUREN HAWKINS • DEC 10, 2020

Structural & Steel Products, whose innovative infrastructure projects include the Margaret Hunt Hill Bridge and the renovation of Texas A&M’s Kyle Field, will join Race Rock Group’s portfolio of companies.

Houston private investment firm Race Rock Group has acquired Structural & Steel Products, Inc. (SSP) for an undisclosed amount.

The Fort Worth-based organization is a portfolio company of Highland Capital Management in Dallas. Founded in 1969, SSP is a leading distributor and manufacturer of transportation, telecommunications, transmission, and utility infrastructure products.

While SSP may not be a household name to North Texans, its projects most certainly are. The Margaret Hunt Hill Bridge in Dallas, the renovation of Texas A&M University’s Kyle Field in College Station, and the Big Hoss Video Structure at the Texas Motor Speedway in Fort Worth are among its repertoire, just to name a few.

With many of SSP’s products being used for federal, DOT highway, and municipal projects, the company must maintain a high level of manufacturing. You may have even used an SSP product without knowing it, as the company also illuminates roads through its roadway lighting solutions.

Through this acquisition, SSP is expected to continue expanding its product and project portfolio.

“We see significant growth opportunities throughout the US transportation infrastructure market and look forward to finding ways to deploy SSP’s broad product portfolio to end markets throughout the country,” Donald Young, Managing Member of Race Rock, said in a statement.

Source: https://dallasinnovates.com/houston-private-investment-firm-acquires-fort-worth-based-structural-steel-products/

December 04, 2020 09:10 AM Eastern Standard Time

HOUSTON–(BUSINESS WIRE)–Race Rock Group (“Race Rock”), a Houston-based private investment firm, has entered into a definitive agreement to acquire Structural & Steel Products, Inc. (“SSP”), a portfolio company of Highland Capital Management (“Highland”).

Structural & Steel Products, based in Ft. Worth, Texas, is a leading distributor and manufacturer of transportation, telecommunications, transmission and utility infrastructure products. SSP was founded in 1969 and manufactures steel products out of its Ft. Worth, TX manufacturing facility. Their manufactured parts and products can be found throughout the United States, from light rail infrastructure to high mast lighting poles to overhead highway sign structures.

Donald Young, Managing Member of Race Rock, commented, “We are excited to be acquiring a best in class steel product manufacturer that aligns with Race Rock’s strategic vision and investment approach. We see significant growth opportunities throughout the US transportation infrastructure market and look forward to finding ways to deploy SSP’s broad product portfolio to end markets throughout the country.”

Matt Brace, CEO of SSP, added, “We are extremely pleased to join Race Rock Group, with its strong track record of growing and operating businesses in the general industrial and manufacturing space. We have enjoyed getting to know the Race Rock team and are excited to partner with them going forward.”

Race Rock funded the transaction with a combination of debt and equity capital. The debt financing has been provided by Woodforest National Bank, with the remainder of the purchase was funded by equity investment from Race Rock.

Locke Lord LLP acted as legal advisor to Race Rock.

About Race Rock Group

Race Rock Group (“Race Rock”) is a Houston based private investment firm focused on making control, growth-oriented investments in lower middle-market businesses throughout the US Gulf Coast and Middle America states. Race Rock looks to partner with best in class management & subject matter experts across various industries including specialty rental equipment, chemicals, industrial services, manufacturing & fabrication, food & beverage, financial services and real estate. Visit www.racerockgroup.com for more information.

About Structural & Steel Products, Inc.

Structural & Steel Products is a major distributor and manufacturer of highway, telecommunications, transmission/utility, and light rail infrastructure products. SSP offers a diverse product portfolio, from the high mast lighting on the Panama Canal, to the tubular steel columns that support the upper deck at Kyle Field in College Station, to the guardrail at the Formula 1 Circuit of the Americas, to the iconic stainless steel lighting poles in Houston’s Galleria. SSP is a TXDOT approved supplier for state construction and maintenance projects, but can also supply material for cities, counties, and private projects. Visit www.s-steel.com for more information.

About Highland Capital Management

Highland Capital Management is a multibillion-dollar global alternative investment platform. Founded in 1993, the firm was a pioneer in the leveraged loan market. It has since evolved, building on its credit expertise and value-based approach to expand into other asset classes and investment strategies. Today, Highland operates a diverse investment platform, serving both institutional and retail investors worldwide. In addition to high-yield credit, Highland’s investment capabilities include public equities, real estate, private equity and special situations, structured credit, and sector- and region-specific verticals built around specialized teams. The firm is based in Dallas, Texas and operates globally with offices in Asia and South America. For more information visit www.highlandcapital.com.

Source: https://www.businesswire.com/news/home/20201204005341/en/Race-Rock-Group-Announces-Agreement-to-Acquire-Structural-and-Steel-Products