The investment firm of Altus Capital Partners has sold Rocla Concrete Tie, Inc. of Denver, Colo., to German-based rail infrastructure supplier Vossloh Group.
Rocla manufactures pre-stressed concrete railroad ties and turnout ties for Class I railroads, commuter passenger operations, transit authorities and industrial operations.
Altus Capital acquired Rocla in 2013 and invested in Rocla’s growth through two add-on acquisitions, two new facilities and plant expansion. This investment allowed Rocla to expand its customer base, product offerings and reach throughout the United States and Mexico. Since Altus’ acquisition, Rocla has doubled its revenue.
“We want to thank the management team of Rocla under the leadership of Peter Urquhart for building the business in a substantial manner during our ownership,” stated Russell Greenberg, managing partner of Altus Capital Partners. “This has been an important investment for Altus and we wish Vossloh much future success with the addition of Rocla Concrete Tie.”
“We have been fortunate to work with Altus Capital Partners in strengthening Rocla’s growth platform over the last three years,” remarked Peter Urquhart, Rocla’s CEO. “Russ Greenberg and his team brought more than just financial resources to the relationship; they worked hand in hand with our management team on both strategy and tactics, demonstrating their commitment to our growth as real partners.”
Rocla’s major customers for its products include Amtrak, Burlington Northern and Union Pacific, as well as other Class I railroads, light rail/transit projects, high-speed corridors and industrial/ports.