New Ownership Acquires Roman Stone Construction Company to Focus on Infrastructure and Renewable Energy

BAY SHORE, N.Y., September 14, 2023 (VSNewsNetwork.com) - Roman Stone Construction Company has announced a change in its ownership structure, aimed at driving significant growth in the infrastructure and renewable energy markets. The company has been acquired by a new ownership group consisting of President Tom Montalbine, The Alzana Group, LLC ("Alzana") of Boston, MA, and Cranbrook Partners & Co. of Detroit, MI.

Tom Montalbine, who will continue as a significant owner and President of Roman Stone, said, "For over one hundred years, Roman Stone has manufactured products that deliver high quality and cost-effective solutions for the roadway, bridge, and railway construction industries... We have built a strong and distinctive product line to meet demanding and high-growth hydroelectric and offshore wind energy transmission applications." Montalbine expressed his enthusiasm for the new partnership, stating, "I greatly look forward to working with John Danner of The Alzana Group and Zachary Savas of Cranbrook Partners & Co. to grow our business, expand our capabilities, and redouble our commitment to excellent customer service."

John Danner, Founder and Chairman of The Alzana Group, emphasized the synergy between the companies: "The Roman Stone investment is an ideal example of Alzana's commitment to providing capital solutions to family-owned businesses. Roman Stone's top-notch management team, distinctive product position, and exciting growth opportunities made it a perfect platform acquisition for Alzana."

Roman Stone is strategically located less than 30 miles east of New York City and is noted as the closest industrial manufacturer of precast concrete products to NYC. The company produces a diverse range of products, including roadway barriers, underground electrical conduit, and underwater renewable energy electrical transmission protection products.

Zachary Savas, Principal and Owner of Cranbrook Partners & Co., also expressed his optimism about the acquisition: "We are very excited to partner with Tom Montalbine and The Alzana Group to invest in Roman Stone. We look forward to building on their historical success and supporting strong growth and continued unwavering commitment to customer satisfaction going forward."

The financial terms of the acquisition were not disclosed.

For more information about Roman Stone and its future plans, visit Roman Stone's official website.

For additional details about the investment groups involved, visit The Alzana Group and Cranbrook Partners & Co..

Source: Roman Stone via Newswire