Plumb-Line Group, Holdings Inc.

March 25, 2011 10:00 ET

Plumbline Group of Companies Announces Shareholder Partnership With Longroad Asset Management

Major investment paves way for continued growth for leading construction industry supplier

CALGARY, ALBERTA--(Marketwire - March 25, 2011) - The Plumbline Group of Companies (Plumbline), a leading supplier of concrete and masonry solutions for the construction industry in Canada, announced that Longroad Asset Management LLC. (Longroad), a private equity firm based in Stamford, Connecticut, has become a major shareholder of the company. Longroad specializes in investing in middle market companies in Canada and the United States.

"This is a positive time for us," said Paul Poscente, Chief Executive Officer of Plumbline. "The Longroad partnership will create a powerful combination of financial strength and superior technical expertise and workmanship. We look forward to focusing our resources on providing solutions for our customers for the next quarter century."

With more than 25 years of successful project work in all of its divisions, including ASTY Construction Inc., Con-Forte Contracting Company Inc., Four Star Concrete and Construction Inc., Plumbline Residential Services Inc. and Sas-Can Masonry and Restoration Inc., Plumbline has an extensive track record in the entire life-cycle of concrete and masonry related construction projects.

"Plumbline's management team is very experienced and has an in-depth understanding of the industry. We are excited to be investing in Plumbline to continue to build and grow these successful and respected brands in the region," commented Steven Zambito, Longroad's Managing Director.

The partnership will enable Plumbline to continue to focus on making long-term business decisions, executing a strong business strategy, and ultimately growing and sustaining its brand presence in the construction industry.

About Plumbline

The Plumbline Group of Companies employs more than 400 people through its five business divisions: ASTY Construction Inc., Con-Forte Contracting Company Inc., Four Star Concrete and Construction Inc., Plumbline Residential Services Inc. and Sas-Can Masonry and Restoration Inc. We are a leading supplier of concrete and masonry solutions for the construction industry. We work with builders, developers, general contractors and municipalities throughout Southern Alberta.

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