Troutman Pepper Locke represented Del Monte Capital (DMC), a private equity firm specializing in growth-oriented, lower middle-market companies, in its majority recapitalization of the Cornerstone companies: Cornerstone Excavating, formerly WDBS Cornerstone, and Cornerstone On-Site Concrete, formerly Cornerstone OnTime Concrete. Together, Cornerstone Excavating and Cornerstone On-Site Concrete are leaders in excavation, underground utility installations, and on-site concrete production services.
Operating primarily in the Dallas-Fort Worth area, the Cornerstone companies are well-positioned to expand their geographic reach and capitalize on significant growth opportunities in the infrastructure sector. DMC’s investment will enable the Cornerstone companies’ plans to build and expand water and wastewater plants, as well as other critical infrastructure in the fast-growing Texas market.
The team advising DMC was led by Jennie Simmons and included Eric Larson, Tammi Niven, Ashley Lopez, Mackenzie Purvis, and John Nelson.