In The News

New name, owners for Contech

February 9, 2012  |  Contech West Chester Ohio

One of the largest private companies in the region on Wednesday announced a new corporate name and ownership structure that it says will help it continue to grow globally.

Contech Construction Products Inc., which ranked as the region’s ninth-largest private company in the 2010 Deloitte Cincinnati USA 100, will now be called Contech Engineered Solutions LLC, effective immediately.

The company said the name change reflects its evolving business model that stresses both products and engineering solutions in residential, commercial and infrastructure markets.

“We believe this new name more accurately reflects who we are today,” Ron Keating, Contech’s president and chief executive officer, said in a release.

West Chester-based Contech, which employs 1,385, manufactures products including prefabricated bridges, retaining walls and drainage pipes. It does business in a wide range of segments that include agriculture, rail and wind farming. The company supports those segments through sales, marketing, field service, engineering and manufacturing personnel. The company’s international footprint includes Mexico, Central and South America and the Asia Pacific region.

Contech also on Wednesday announced new ownership by a group of equity investors, and said it’s secured long-term financing and entered into a $125 million credit facility with Wells Fargo Bank N.A., and a revolving loan commitment of up to $100 million.

Contech’s debt had been held by a group of banks and senior lenders, a company spokesman said. Contech’s new equity investors include Anchorage Capital Group LLC, Littlejohn & Co. LLC, Tennenbaum Capital Partners LLC and Farallon Capital Management LLC.

“We now have the capital structure to execute on our strategy of enhancing our product and service offerings and building our market-leading positions across the globe,” Keating said.