April 30, 2010
STOCKTON, CA – Montage Partners, a Scottsdale, Arizona-based private equity firm, is pleased to announce its acquisition of Cal-Sierra Pipe (“Cal-Sierra” or the “Company”). Based in Stockton, California and founded in 1962, Cal-Sierra Pipe is a leading value-added distributor of steel pipes and other water infrastructure materials for the agricultural, construction, fabrication and water-well drilling industries in the Western U.S.
Montage Partners acquired Cal-Sierra from current owner and President, Larry Gorham. After purchasing the Company from his father in 1982, Larry has led Cal-Sierra through a period of significant growth with an emphasis on availability of inventory and an unparalleled commitment to quick and reliable delivery of the highest quality pipe, valves and fittings. On this foundation, Cal-Sierra has become the supplier of choice for pipe products needed to meet the growing demand for new and improved water infrastructure in the drought-prone West.
With a track record of ensuring the legacies of family and founder-owned businesses are preserved during transition, Montage Partners will work closely with Larry over the next two years to carefully guide the Company to new leadership, enabling Larry and his family to enjoy a well-deserved retirement.
Cal-Sierra was advised by investment banking firm McGladrey Capital Markets. Montage Partners was represented by the law firms Brier, Irish, Hubbard & Erhart, PLC and Osborn Maledon, P.A.
About Montage Partners
Founded in 2004 and located in Scottsdale, Arizona, Montage Partners is a private equity firm that invests in established companies in the western U.S. with EBITDA between $1 million and $5 million. Above all other investment criteria, Montage Partners invests in exceptional people. Montage Partners provides liquidity to those who have spent years of their life building great companies, protects those companies through a transition of ownership and supports the next generation of a company’s leadership in executing on growth initiatives. For more information, please visit www.montagepartners.com.