Enduro Has Been Acquired by Hill & Smith
HOUSTON, June 9, 2023 – GulfStar Group ("GulfStar") is pleased to announce the acquisition of Enduro Composites Inc., (“Enduro” or the “Company”) by Hill & Smith PLC (LSE: HILS.L) (“Hill & Smith”). GulfStar served as the exclusive financial advisor to Enduro throughout the transaction, which closed on February 17, 2023.
Located in Houston, Texas, Enduro is a global leader in the design and manufacture of non-metallic composite products and solutions that deliver value to its customers. With a history of innovation and industry firsts, its fiber reinforced polymer (FRP) solutions have earned worldwide respect and recognition in many of its businesses, including TUFF SPAN™ building products, electrical cable management, water and wastewater structures, field services and custom FRP manufacturing. Employing diverse, manufacturing capabilities, Enduro provides lasting solutions for challenging conditions in industrial and infrastructure market segments like chemical processing, mining, water, wastewater, metal processing, fertilizer, power, pulp & paper, oil & gas, offshore and marine, food processing and mass transit.
“I would like to thank Enduro’s employees, customers and shareholders for their support in growing the Company into a premier FRP composites manufacturer and supplier,” said Tim Broussard, CEO of Enduro. "We look forward to joining Hill & Smith and collaborating to expand the composites industry as the preferred material of choice.”
Headquartered in the United Kingdom, Hill & Smith creates sustainable infrastructure and safe transport through innovation. Hill & Smith employs 4,350 people worldwide, with the majority based in the United Kingdom, United States, Sweden, India and Australia. Hill & Smith’s operating businesses are organized into three main business divisions: Roads & Security, Utilities and Galvanizing Services.
“We appreciated the opportunity to work with the Enduro team on this important transaction,” said Tom Hargrove, managing director of GulfStar. “Enduro’s expertise and extensive portfolio of branded, world-class quality composite products and manufacturing solutions will enhance Hill & Smith’s product lines and greatly expand its presence in the United States.”
The GulfStar team was led by Managing Directors Tom Hargrove, Cliff Atherton and Ben Stanton along with support from Associate Luis Barrera.
For more information, please contact thargrove@gulfstargroup.com, catherton@gulfstargroup.com or bstanton@gulfstargroup.com.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed approximately 750 transactions in 36 states and 17 foreign countries across a variety of industries.
