Solace Capital Partners’ Acquisition of a majority interest in Fabcon Holding Corporation


O’Melveny represented Solace Capital Partners on the deal

Solace Capital Partners has acquired a majority interest in Fabcon Holding Corporation, a leading manufacturer of precast, pre-stressed concrete wall panels for nonresidential construction applications. Platinum Equity, which acquired Fabcon in 2016, will remain a meaningful equity investor and Company management will also participate in the transaction. Financial terms were not disclosed.

Based in Savage, Minn., Fabcon’s structural precast wall panels are used primarily in the construction of warehouses and distribution centers as well as mixed-use office, industrial, data centers and retail facilities. The Company is a trusted partner to a broad array of building owners and developers and provides its blue-chip customers with a comprehensive and integrated service offering that includes engineering, fabrication, erection and project management. Fabcon serves the eastern half of the U.S. through its four strategically-located manufacturing facilities in Minnesota, Ohio, Pennsylvania and Kansas.

Solace Capital Partners is a private investment firm focused on special situations and distressed-for-control investments in lower-middle market companies. Solace’s principals have on average 25 years of relevant investing experience across various sectors and invested over $5 billion across over 100 companies. Launched in 2014, Solace has approximately $610 million of assets under management with offices in Los Angeles and New York.

O’Melveny advised with a team including David Smith (Picture), Rob Graffum, Shawmir Naeem (M&A), Thomas Baxter, Sarah Hoffner and Joshua Chow (Banking & Finance).

Involved fees earner: David Smith – O’Melveny & Myers LLP; Rob Graffum – O’Melveny & Myers LLP; Shawmir Naeem – O’Melveny & Myers LLP; Thomas Baxter – O’Melveny & Myers LLP; Sarah Hoffner – O’Melveny & Myers LLP; Joshua Chow – O’Melveny & Myers LLP;

Law Firms: O’Melveny & Myers LLP;

Clients: Solace Capital Partners LP;

Author: Ambrogio Visconti