Center Rock Invests in Leading Global Pipe Supplier and Processor
Center Rock Capital Partners, LP (“Center Rock”) is pleased to announce that it has partnered with management, including CEO Vic Sinclair, to acquire John Lawrie Tubulars (“John Lawrie” or the “Company”) from Rubicon Partners. John Lawrie is a leading, multinational distributor and processor of steel tubular products. The transaction marks Center Rock’s first platform investment out of its second investment vehicle, Center Rock Capital Partners Fund II, LP.
Headquartered in Houston, Texas, John Lawrie is a value-added processor and distributor of steel tubular and piling products primarily used in construction and infrastructure applications. Operating out of six facilities in the US and two in the UK, the Company’s scale offers its customers a unique global supply network and the necessary technical and logistical support to meet their project demands. Customers rely on John Lawrie for reliable, high-quality surplus and secondary steel tubular products that are delivered with short lead times and unmatched customer service.
The Company is led by a tenured management team including 35-year John Lawrie veteran and CEO, Vic Sinclair. “We are excited to partner with Center Rock to help us grow and expand our business organically through US yard expansion and movement into adjacent markets. At John Lawrie we have built a strong brand and a differentiated, unique sourcing model giving us access to a large, diversified supply base that is crucial for success in our industry,” said Sinclair.
Center Rock Partner Ian Kirson commented, “John Lawrie has a multi-faceted approach to sourcing that is rare in the pipe piling industry. The management team has built a remarkable enterprise with an environmentally friendly business model as a recycler and repurposer of surplus products, and we are excited to support their future growth.”
Rubicon Partners acquired John Lawrie Group from family ownership in 2017. Under Rubicon’s stewardship, the business more than doubled in size through organic growth by adding new sites and inventory across North America and the UK, together with significantly enhancing its fabrication and processing capability
About John Lawrie
John Lawrie is an established multinational organization set up to service the steel piling and construction industry throughout North America and Europe. John Lawrie offers a complete suite of value-added processing capabilities and has a history of industry leading customer service. With eight yards globally and 70,000+ tons of inventory, John Lawrie can meet the exact needs of the customer with industry-leading efficiency.
About Rubicon Partners
Rubicon Partners is a hands-on investment partnership focused on the acquisition of industrial businesses in the UK. Over the past 29 years, Rubicon has invested in 79 businesses across the manufacturing, distribution and service sectors, ranging in value from £15m to £250m. Rubicon focuses on opportunities for long-term value creation through working closely with company management in addressing strategic opportunities and operational performance. The firm has extensive experience in acquiring from private family ownership, retiring owner managers, and corporate carve outs. The hallmark of the Rubicon approach is certainty of execution and long-term investment strategy.
Rubicon was advised on this transaction by: KeyBanc Capital Markets and Clearwater International (Sell-side M&A advisers), PricewaterhouseCoopers LLP (Financial & Tax due diligence) and Proskauer Rose LLP (Legal).