Westcon Industries (www.westconindustries.com) is a comprehensive construction company that provides a variety of services, including pipefitting and welding, structural steel fabrication and erection, concrete installation and equipment setting, to large industrial processing facilities. The company provides large-scale construction services across the United States and internationally to a Fortune 500 client base principally engaged in petro-chemical processing, power generation, production of biofuels, railroad transportation and food processing.
Westcon participates primarily within the manufacturing construction segment of the U.S. non-residential construction industry. The manufacturing construction segment consists of companies engaged in the production of petroleum and coal; chemicals and pharmaceuticals; food, beverages and tobacco; and computers, electronics and electrical components. In 2007, the value of manufacturing construction rose to $42.6 billion, a 20 percent increase over 2006. The value of manufacturing construction is projected to reach $50.3 billion in 2008, an increase of 18 percent over 2007 levels.
Prestwick Partners initiated this transaction and acted as exclusive financial advisor to Westcon Industries (Bismarck, North Dakota). Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with private equity groups Lynch Investment Company (Dallas, Texas) and Progress Equity Partners (Dallas, Texas, and Denver, Colorado).