CLA helped Ti-Zack Concrete sell to a private investment group, allowing the owner to maintain his legacy while still meeting his financial goals.
CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, announced Ti-Zack Concrete, a leading constructor of concrete paving, curb and gutter, sidewalks, ADA ramps, and more has been acquired by a financial sponsor. CLA served as the exclusive financial advisor to Ti-Zack on the transaction.
Ti-Zack was founded in 1999 by Steve Rutt and focused on concrete beautification projects in Minnesota. Over the last few decades, the company has grown throughout the central United States and has expanded its capabilities to handle many different types of concrete projects. Ti-Zack is headquartered in Le Center, Minnesota.
“Ti-Zack has come a long way since we started with just one employee 25 years ago. I wanted to make sure that my employees and the legacy we have built would be honored and preserved into the future,” said Rutt, owner of Ti-Zack. “CLA understood my objectives for this transaction and was able to satisfy all these wishes. I am incredibly pleased with CLA’s guidance and experience in this process.”
“Steve has been a long-time client of the firm and relied on the whole CLA team to execute on a rather complex transaction,” said Paul Novak, managing director on CLA’s investment banking team. “We received a great offer allowing for key management to continue with a stake in the firm, while also meeting Steve’s objectives. We are excited for the next growth phase for Ti-Zack.”
The CLA investment banking team comprised Paul Novak, David Shapiro, James Luzum, and Yuhao Zhao. The sell-side quality of earnings was led by CLA’s Adrian Nohr and Travis Tilque. Transaction tax was led by Mike Britten and Keegan Wiens, while the tax advisory was led by David Olsen. Ti-Zack relied on Ryan Gerads and the team from Lathrop GPM as their legal counsel on this transaction.
CLA investment banking professionals provide sophisticated corporate finance advisory and investment banking services to lower middle-market businesses and owners. The practice’s services include mergers and acquisitions, recapitalizations, and other transaction-related advisory services.
For more information on CLA and its investment banking practice, visit CLAconnect.com/services/investment-banking.
Securities products, merger and acquisition services, and wealth advisory services are provided by CliftonLarsonAllen Wealth Advisors LLC, a federally registered investment advisor and member FINRA, SIPC.
Contact Us
If you are unable to see the form below, please complete your submission here.