Delta has operated since 1957, and is managed by the third and fourth generation of the Laurello family, descendants of company founder, Mr Cosmo Anthony Laurello. The family will continue to operate under the business the Delta name from the company’s facility in Ashtabula, Ohio, which employs more than 150 staff.
Salcef specialises in the renewal and construction of mainline, light rail and metro lines.
Signet Capital Advisors (SCA) served as sell-side advisor to Delta, and examined a number of potential strategic and private equity buyers, both international and domestic. The sale was initiated in August 2019 and completed on September 15 despite shutdowns and limits on international closures imposed due to Covid-19.
“This is the time in more than 25 years of experience that I have closed a deal with such limited in-person interaction,” says Mr Mike Paparella, SCA managing director. “Under typical circumstances, there would have been three additional, or more, in-person visits and the deal would have closed four months sooner. Despite the global pandemic, we were able to leverage the latest technologies to push this transaction forward and we are proud to have advised our client in making the best long-term decision for their company’s future.”