The Business

Precision SURE-LOCK (www.precisionpt.com) manufactures a wide line of high-precision anchorage products that are utilized in residential, commercial and public-works concrete construction as well as underground mining. The company markets a complete line of high quality, proprietary one-time use and reusable post-tension and pre-tension products under the SURE-LOCK® brand name. Post-tensioning is a technology that uses multiple steel cables or wires which are tensioned or tightened during construction, causing constant compression of the supporting beam or slab of concrete. The tensioning of concrete provides many advantages when compared with conventional rebar technology, including (i) stronger, virtual crack-free structures, (ii) longer durability and structural integrity, (iii) greater design and functional flexibility, and (iv) lower-cost structures. Pre- or post-tensioning merely defines when the tension is applied to the concrete (i.e., before or after the pouring of the concrete slab).

The Industry

The post-tension concrete market segment is estimated to be a $450+ million annual market within the $860+ billion annual construction market. Current uses for the company’s post-tensioning products include office buildings, condominiums, hotels, parking structures, slab-on-ground foundations, ground anchors, storage tanks, barriers, nuclear containment structures, stadiums, silos, cable stays, underground mining roof supports, among many others.

The Process

Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Prescision SURE-LOCK (Dallas, Texas) and Lynch Investment Company (Dallas, Texas). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Actuant. The sale of Precision SURE-LOCK was Prestwick Partners’ second successful divestiture of a Lynch Investment Company portfolio company in two years.