Tricon Wear Solutions, headquartered in Birmingham, has been acquired by Construction Forms Inc., a portfolio company of H.I.G. Capital.
Tricon, which also has locations in Nevada and Illinois, manufactures abrasion, wear-resistant products, specializing in highly engineered steel plates and other fabricated products. It serves customers in the pulp and paper, mining and aggregates industries.
Founded in 1969, CFI is a provider of engineered, abrasion-resistant piping systems and replaceable components for use in concrete pumping, mining, power generation and other industrial end markets.
“Together, Tricon and CFI will be a stronger, more diversified partner to new and existing customers globally with an expanded offering and strengthened value proposition,” said Stefan Brosick, CEO of CFI. “We are excited to welcome the exceptional Tricon team. CFI’s expanded portfolio will increase the breadth of our superior aftermarket solutions, all focused on delivering the lowest total cost of ownership for our customers.”
Todd Plate, president and CEO of Tricon, added that the companies have a shared vision focused on customer needs. “Our partnership with CFI creates an expanded platform to serve customers in the most severe wear situations worldwide,” he said.
Combined, the CFI group of companies will have more than 350 employees in five U.S.-based manufacturing facilities and one in Europe.