NEW YORK & FORT WORTH, Texas--(BUSINESS WIRE)--Cerberus Capital Management, L.P. (together with its affiliates, “Cerberus”), a global leader in alternative investing, today announced that it has acquired Landmark Structures (“Landmark” or the “Company”), a leading full-service provider of water storage solutions in North America.
Founded in 1974, Landmark provides specialized and integrated engineering, construction, installation, and maintenance services for water and industrial storage tank projects. With a proven track record for operational excellence, safety, and innovative execution, Landmark is a leading provider of water storage solutions in North America today. The Company has operations across the U.S. and Canada, and has supported clients in safely storing more than 1.2 billion gallons of water.
In partnership with Cerberus, Landmark plans to further invest in the expansion of its capabilities and services while continuing to deliver an unmatched customer experience. Chris Lamon will continue leading Landmark as President and Chief Executive Officer alongside the Company’s existing management team, which has retained a minority stake in the Company.
Mr. Lamon commented: "For half a century, our relentless commitment to innovation and execution has established Landmark as a leader in water storage solutions. The opportunity to take the next step in our journey alongside a premier and operationally-focused investor like Cerberus is a testament to the contributions of our team, the strength of our business, and the immense growth avenues ahead. We look forward to working with Cerberus to build upon our long track record of helping communities across North America ensure the safety, longevity, and reliability of their critical water storage infrastructure."
Patrick Moriarty, Managing Director at Cerberus, added: “Landmark is an exceptional business with a rich history as a foundational player and trusted partner in the North American water storage infrastructure industry. We are confident that the Company is well-positioned to capitalize on significant opportunities amid strong and growing demand for water storage infrastructure solutions. We are excited to partner with Chris and the team to support the Company’s continued growth in this next chapter."
Houlihan Lokey served as debt capital markets advisor and Dechert LLP acted as legal counsel to Cerberus.
About Landmark Structures
Founded in 1974, Landmark Structures specializes in water storage design, engineering, and construction, with operations in both the U.S. and Canada. Landmark Structures primarily serves the industrial, military, and municipal markets with its storage solutions. Learn more at www.teamlandmark.com.
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $65 billion in assets across complementary credit, real estate, and private equity strategies. Cerberus invests across the capital structure where it believes its integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Cerberus’ tenured teams have experience working collaboratively across asset classes, sectors, and geographies as they seek to achieve strong risk-adjusted returns for investors. For more information about our people and platforms, visit us at www.cerberus.com.