Capstone Headwaters, a leading middle market investment banking firm, advised Pikus Concrete & Construction, LLC (“Pikus”), a commercial and industrial concrete contractor, on its asset sale to Lithko Contracting, LLC (“Lithko”).
Pikus is a nationally recognized commercial and industrial concrete contractor serving Salt Lake and the Wasatch Valley market since 1999. They specialize in cast-in-place concrete including post-tensioned decks, multi-story commercial structures, and parking structures. Pikus has approximately 200 employees and serves a customer base of large nationally recognized general contractors in Utah and the surrounding region.
Lithko is a market-leading, full service commercial concrete contractor specializing in the execution of walls, tilt-ups structural frames, slabs, super flats, site work, foundations, and pre-construction services. Lithko has over 3,000 coworkers serving over 500 clients across 19 geographic regions. Lithko has a unique local service model designed to keep co-workers close to home and create exceptional customer service in each town.
Rob Pikus, Pikus President said
“The team at Pikus is excited to partner with Lithko. Our new partnership will drive exceptional value and solidify our place as an industry leader in Utah and the Wasatch Valley. Capstone Headwaters was a trusted advisor throughout the entire process leading us to a successful partnership with Lithko in spite of the many challenges in 2020. Working with their team proved to be invaluable, and we look forward to partnering again on future projects.”
Gege Pikus, Pikus CFO, added, “the Capstone team was phenomenal to work with. The level of professionalism they brought to the transaction was outstanding. After thousands of working hours together, we are thankful to call them friends as well. Capstone was absolutely the right choice for us.”
Brian Krehbiel, Director at Capstone, commented
“Pikus is the market leader in Utah, a highly attractive market for business, construction, and quality of life. The combination of Lithko and Pikus will allow them to further capitalize on the market opportunity and better serve customers in the region.”
Rob Strobel, Lithko President, said
“Pikus has a dedicated team of accomplished individuals with extensive industry experience. We are excited to have a presence in Salt Lake City and the Wasatch Valley market, which is known as “Silicon Slopes”, a growing technology region. We look forward to working closely with Rob and the Pikus team to help them build on their impressive track record of success.”