Lime Rock New Energy’s low-carbon precast concrete manufacturing platform, today announced that it has acquired 100% of Holton Concrete Products, LLC (“Holton” or the “Company”) from founders Thomas and Barbara Holton. LRNE was joined by Aligned Climate Capital, which made a minority investment in HCP. Financial terms of the transaction were not disclosed.
Headquartered in Christiana, Tennessee, Holton is a leading regional producer of precast concrete pipe and structures serving the Nashville metropolitan area and the broader Middle Tennessee market. The Nashville region is one of the fastest-growing in the U.S., and the acquisition positions HCP to meet the area’s expanding infrastructure needs. HCP intends to invest in upgrading Holton’s manufacturing capabilities and to advance the use of lower-embodied-carbon materials and production practices. Holton serves as the cornerstone of HCP’s strategy to build a precast concrete platform focused on high-quality infrastructure products with measurable environmental benefits, with plans to broaden its product offerings and geographic reach over time.
“Holton gives us a strong foundation in a key market where infrastructure growth and investment create a compelling opportunity for expansion,” said Mark Lewis, Managing Director at Lime Rock New Energy. “Our focus is on combining capacity investment and continuous quality improvement with practical approaches to reducing the carbon footprint of Holton’s products. We see an opportunity to build a larger business that delivers the quality and reliability that Holton’s customers demand.”
“Barbara and I are proud of the forty-year legacy we have built at Holton Concrete Products and grateful to the employees and customers who have been part of Holton’s story,” said Thomas Holton, co-founder of Holton Concrete Products. “As we pass the business to its new owners, we believe HCP and Lime Rock New Energy bring the resources and commitment to support Holton’s next chapter. Their plans to invest in the business give us confidence in the opportunities ahead for the Company and its employees.”
HCP’s investment in Holton reflects LRNE’s focus on businesses that can meet growing customer demand while contributing to decarbonization and more efficient use of resources.
Holton was advised by Bass, Berry & Sims PLC and Murfree, Goodman, & Rosado PLLC. Lime Rock New Energy was advised by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and by Truliance Consulting and Truliance Industrial Services.
