Galfab announces employee stock ownership plan
Monday, 25 September 2017 20:49

CHARLOTTE, N.C. - Charlotte-based Mosaic Capital Partners, LLC, has announced that the company has led the structuring and funding of the employee stock ownership plan (“ESOP”) buyout of Galfab, a premier manufacturing company with locations in Indiana and Arizona, previously owned by Wastebuilt Environmental Solutions, LLC.

Mosaic managing partner Keith Butcher remarked, “Our team at Mosaic was honored to be selected to partner with Jerry Samson, the management, and employees in Galfab’s transition to employee ownership. Galfab is recognized throughout the industry as a premier designer and manufacturer of waste equipment of all types.”

Galfab CEO Jerry Samson stated, “We were very thorough in our process to choose the right partner. It became evident that Mosaic offered our employees, our customers and our growth strategy the best opportunity. The desire to create an ownership opportunity in Galfab for our over 150 employees was always the top priority for us. Our employees are the heart and soul of Galfab. We feel our corporate philosophy respects their individual skills, cooperative spirit and dedication to exceptional quality and service. This company was founded by Don Galbreath and built on his reputation in the industry. Taking care of all the employees was foremost on our mind. Galfab is well-known as an industry innovator and this new structure will position Galfab as a leading edge manufacturing employer.”

Dave McKeon, COO of Wastebuilt Environmental Solutions added, “We are very proud of Galfab’s growth and success under Wastebuilt’s ownership, and we look forward to partnering with Jerry and his team as Galfab becomes an independent, employee-owned company. Wastebuilt will continue to focus on its core business of providing parts, service and equipment to the refuse industry, with Galfab as an important partner for our company.”

 

About Galfab

Galfab, based in Winamac, Indiana and Phoenix, Arizona, is a leading manufacturer of cable roll-off hoists, single axle hook hoists, open top roll-off containers, packer receiver containers, front and rear load containers, self-contained compactors, self-dumping hoppers, and various other products for transportation in the garbage and scrap industry. For additional information, please visit www.galfab.com

 

About Mosaic Capital Partners, LLC

Based in Charlotte, NC, Mosaic Capital Partners, LLC (“Mosaic”) is a private equity fund providing mezzanine debt and equity to privately held lower middle market companies. www.mosaic-cp.com

 

About Wastebuilt Environmental Solutions, LLC

Wastebuilt was formed in December of 2012 in order to create a customer-focused and national provider of parts, service, and equipment for the waste and recycling industry. Wastebuilt is majority-owned by Millbrook Capital Management Inc., a New York City-based investment firm that seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance. www.wastebuilt.com