Construction Forms has acquired Birmingham-based Tricon Wear Solutions, the company announced Monday.
Tricon is a manufacturer of abrasion, wear-resistant products, specializing in highly engineered steel plates and other fabricated products. Construction Forms is a portfolio company of H.I.G Capital.
Todd Plate, president and CEO of Tricon, praised the companies “shared vision.”
“Both companies have a shared vision of relentless focus on customer needs and safety,” said Plate. “Together, we have decades of expertise in engineering solutions for challenging abrasion and wear resistance applications.
“Our partnership with CFI creates an expanded platform to serve customers in the most severe wear situations worldwide.”
Stefan Brosick, CEO of CFI, said he was excited about the partnership.
“Together, Tricon and CFI will be a stronger, more diversified partner to new and existing customers, globally with an expanded offering and strengthened value proposition,” he said. “We are excited to welcome the exceptional Tricon team. CFI’s expanded portfolio will increase the breadth of superior aftermarket solutions, all focused on delivering the lowest total cost of ownership for our customers.”
H.I.G. Managing Director John Von Bargen called the new partnership “transformative.
“CFI’s partnership with Tricon is a transformative merger that creates a diversified leader in the industrial wear parts market.” he said. “This is the first of what we hope will be several acquisitions further building upon CFI’s platform of leading wear parts companies.”
Tricon also has operations in Nevada and Illinois.
Austen Shipley is a staff writer for Yellowhammer News.
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