CONTECH Construction Products Inc. recently announced the completed acquisition of CON/SPAN Bridge Systems Ltd. of Dayton, Ohio and BridgeTek LLC of Cincinnati, Ohio.
“This is a significant point in our strategic growth,” said Pat Harlow, CONTECH CEO and president. “We expect, combined with our existing BEBO/Tech business, our concrete bridge companies to achieve $150 to $200 million in annual sales. That positions CONTECH to exceed $1 billion in sales in the next 12 to 24 months.”
The new expanded business offering will also mean added benefits to the civil engineering industry. “The combination of technical support to the design community, along with the sales engineering support to the construction community, will provide a unique resource in the industry,” said Ed Zax, president of BridgeTek. “No question, the strength of these independent companies coming together as one will have a positive impact on the United States’ infrastructure.”
CON/SPAN President Tim Beach agrees, “With the new support of the CONTECH team, our staff’s talents and our licensees’ professionals consultative marketing skills are poised to have a tremendous impact on the marketplace. And, the significant efforts being put forth in research and development will certainly yield cost-effective, rapidly installed, long-lasting construction materials.”
The acquisition of CON/SPAN and BridgeTek was also important because of their fit in CONTECH’s strategic growth markets of bridges and stormwater. According to Harlow, this is an area where CONTECH anticipates 30% annual growth. Bill Lockwood, chairman and founder of CON/SPAN Bridge Systems also sees the opportunity. “This acquisition provides an opportunity to quickly expand the penetration of CON/SPAN Bridge Systems into the enormous market for new and replacement bridges. Importantly, it will greatly broaden the opportunities and challenges for our team and accelerate career and growth paths for all levels of our staff.
This completed acquisition is CONTECH’s 7th major acquisition in the past six years. CONTECH has pursued its growth and diversification strategy through a series of acquisitions, primarily in the bridge and stormwater markets including: Keystone Retaining Walls 1999, Continental Bridge 2001, Steadfast Bridge 2001, BEBO Concrete Arch Structures 2003, Vortechnics Inc. 2004 and Stormwater Management 2005.
