March 14, 2014
MSouth Closes the Acquisition of Crom, LLC
Atlanta, GA (March 14, 2014) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the closing of its newest investment. In partnership with management, MSouth completed the acquisition of Crom.
Crom, headquartered in Gainesville, FL, is a leading and long-established provider of pre-stressed concrete water tank design and construction services to water and wastewater customers primarily in the southeastern United States and select international locations. Since 1952, Crom has built more than 4,000 tanks for municipalities and private sector customers. With tank capacities ranging from a few hundred thousand gallons to several million gallons, Crom tanks are suitable for diverse functions including potable and reuse water storage, wastewater treatment, thermal storage, flow equalization, and industrial storage and treatment.
Mark Feidler, an MSouth Partner, said, “We are excited to partner again with a management team we have known for over eight years. Crom is well positioned to capitalize on increasing domestic and emerging market demand for water and wastewater infrastructure. Having capitalized the transaction with all equity, management will be able to focus on growing the business without the added burden of debt.”
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued $25 – $125 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. With more than $700 million under management in two active funds, MSouth is a successor to Cravey, Green & Wahlen, Inc. which was founded in 1984.