Washington Partners, LLC, one of Florida's premier mergers and acquisitions advisory firms, is pleased to announce the sale of Precast Wall Systems, Inc. Pompano Beach, Florida by owners Richard & David Stiles, to Permacast, LLC, Bradenton, Florida and owners Gary & Paxton Craddock. Washington Partners served as the exclusive buyside advisor to Permacast in this transaction.
TAMPA, Fla., Jan. 19, 2024 /PRNewswire-PRWeb/ -- Washington Partners, LLC, one of Florida's premier mergers and acquisitions advisory firms, is pleased to announce the sale of Precast Wall Systems, Inc. of Pompano Beach, Florida by owners Richard and David Stiles, to Permacast, LLC, of Bradenton, Florida and owners Gary and Paxton Craddock. Washington Partners served as the exclusive buyside advisor to Permacast in this transaction.
Precast Wall Systems was founded in 1985 by the Stiles Family. As a 3rd generation family business, the company has provided privacy and security for businesses, housing developments, schools and state electrical grids through manufacturing and installation of several types of concrete walls.
Following the sale, Richard Stiles commented, "After 38 years in business, David and I were looking to take advantage of what our family had built and move on to the next phase of our lives. Juan Pardo of Washington Partners had reached out on behalf of Gary and Paxton at Permacast with the idea of acquiring our company. We had several discussions with Gary at Permacast and felt it was a good strategic fit for the companies and would leave our staff in the right hands after our exit."
Permacast was founded in 2006 in Bradenton, Florida by Gary and Paxton Craddock. Today Permacast manufacturers precast concrete walls that are used in energy, public works, industrial, residential, transportation, government, infrastructure and commercial projects. Their plant manufacturers, sells and ships precast walls products anywhere in the United States which are the most durable and efficient in the market. Gary Craddock commented, "We appreciate Juan Pardo's and George Chaconas's efforts in not only making the introduction to the Stiles family but also for always being available and responsive in guiding us through all the stages of the buy/sell process. We are excited to make this acquisition and continue to provide the best in quality precast walls across the United States."
Juan Pardo, Senior Vice President, commented, "Having met Gary and Paxton several times and learning their go forward plans, we felt the acquisition of Precast Wall Systems would be a great strategic opportunity to take Permacast to the next level in their growth. We are grateful to Gary and Paxton for trusting us in making contact with Richard Stiles and advising them throughout the process. The combining of the two companies will continue the legacy of the Stiles family and capitalize on their many years of building goodwill in the community in South Florida. We wish Gary and Paxton continued success in the future as we help them grow Permacast to be the premier precast wall company in the United States.
About Washington Partners, LLC
Founded by Managing Partner, George Chaconas in 1999, Washington Partners and its professionals specialize in providing intermediary services for lower-middle market business owners who are contemplating exit or growth strategy opportunities. Its experienced mergers and acquisition specialists provide insight and strategies as to the right time to sell and prepare the company to sell.
The firm offers various services including, succession and exit planning, mergers, acquisitions, divestitures, valuations, and transaction consulting. WP's client base includes public, private companies, investor groups, private equity groups, family offices, and management buyout groups throughout the world.
For more information about the services offered by Washington Partners visit https://washingtonpartners.com.
Media Contact
Juan C. Pardo, Washington Partners, LLC, 813.254.9274, [email protected], https://washingtonpartners.com
SOURCE Washington Partners, LLC
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