Race Rock to Acquire Structural and Steel Products
Houston-based private investment firm Race Rock Group has entered into a definitive agreement to acquire Structural & Steel Products Inc, a portfolio company of Highland Capital Management. Structural & Steel Products, based in Fort Worth in 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 Fort Worth 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.
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.
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