Building Products Acquisitions in 2020

Clearlake Capital Group has completed the acquisition of PriSo Holding Corporation (PrimeSource) from Platinum Equity. PrimeSource is a global distributor of specialty building materials with 34 U.S. distribution centers and over 1,100 employees; Clearlake intends to use the business as a platform for organic growth and add-on acquisitions in the specialty distribution sector.

Arbor Contract Carpet has acquired Carpeturn.com, a web-based multifamily flooring provider with operations in the Southwest. The deal expands Arbor's geographic footprint into additional Southwestern markets and brings Carpeturn's web-based operating system and scheduling platform into Arbor's service offering.

US LBM has agreed to acquire Jennings Builders Supply & Hardware, a four-location building products dealer in western North Carolina. The deal, which US LBM expects to close by year-end, will expand US LBM's footprint in the Carolinas while keeping Jennings' existing leadership in place.

Delta Faucet Company, a division of Masco Corporation, has signed a definitive agreement for Masco to acquire the assets of Kraus, an online plumbing-fixture company. Kraus, headquartered in Port Washington, New York and employing about 100 people, will operate as an affiliate of Delta Faucet Company following a closing expected by Q1 2021.

MI Windows and Doors has acquired Sunrise Windows from The Riverside Company; financial terms were not disclosed. Sunrise, a Temperance, Michigan-based manufacturer of custom vinyl replacement windows founded in 1994, was grown under Riverside (including a 71,000 sq. ft. facility expansion) and will join MI’s portfolio to expand product offering and dealer reach across the U.S.

ProGreen, a division of Sprinturf, LLC, has acquired Artificial Artisans, a residential and commercial synthetic turf installer based in Orlando, Florida. The acquisition will rebrand Artificial Artisans as ProGreen Central Florida and serve as a strategic hub for ProGreen's expansion in Florida.

Unified Door and Hardware Group, a portfolio company of Dunes Point Capital, has merged with LIF Industries. The transaction combines Unified's 16-location, value-add distribution platform with LIF's Port Washington-based manufacturing and distribution capabilities (approximately 400 employees) to expand product and geographic reach in doors, frames and hardware.

WILsquare Capital’s portfolio company Crown Products, Inc. acquired substantially all assets of Jer-And, Inc., a St. Louis-based distributor of flooring and flooring installation solutions. The add-on expands Crown Products’ footprint across the Midwest and Rocky Mountain region; financial terms were not disclosed.

American Bath Group, a portfolio company of Centerbridge Partners, has completed the acquisition of DreamLine (Glass Technology Concepts, LLC) from affiliates of MPE Partners. DreamLine, headquartered in Warminster, Pennsylvania, is a designer and manufacturer of premium glass shower doors, enclosures, and accessories and will operate as a division of American Bath Group as a complementary, add-on acquisition.

Bain Capital Private Equity agreed to acquire a majority stake in US LBM from Kelso & Company, with the transaction announced in November 2020 and completed in December 2020. The deal positions Bain to further scale US LBM’s national building-materials distribution platform and accelerate its acquisition-driven growth.

Horizon Forest Products, a Raleigh-based flooring distributor, announced the acquisition of Wood Pro Inc. (Auburn, Massachusetts) and Custom Wholesale (Jacksonville, Florida). The deal adds ten locations and expands Horizon's geographic footprint into the Southeast U.S., combining showroom and wholesale flooring operations to grow market coverage and customer reach.

Metrie, a Vancouver-based manufacturer and distributor of interior millwork, has acquired Pacific MDF Products Inc. (Rocklin, CA) and Canadian MDF Products Company (Edmonton, AB), collectively known as Pac Trim. The deal expands Metrie’s MDF manufacturing footprint into California and strengthens its production and distribution capabilities across Western Canada and the U.S. West/Pacific Northwest.

US LBM has acquired Tri-County Building Supplies, a regional building materials distributor in southern New Jersey. Tri-County — founded in 1964 and operating multiple locations including a 14-acre flagship in Pleasantville with a 60,000 sq. ft. warehouse and showroom — will operate as part of US LBM’s Universal Supply Company; the JIAN Group acted as financial advisor to Tri-County.

Uniprop Corporation (a family office) and Seneca Partners (an independent sponsor) acquired Michigan Chandelier, Inc., a 100+-year-old lighting fixtures and electrical supplies retailer and distributor headquartered in Southfield, Michigan. The sellers, majority owners Ed and Judy Berne, are exiting to retire; Ken Sanders (President and minority owner) will remain to assist the ownership transition. Calder Capital served as lead advisor on the transaction.

Trachte Building Systems, an employee-owned manufacturer of pre-engineered steel structures based in Sun Prairie, Wisconsin, has acquired Roof Mart LLC, a Vernon, Alabama-based designer and manufacturer of metal roofing systems and wall panels. The acquisition gives Trachte a manufacturing facility in the Southeastern U.S., expands its fabrication capabilities, and broadens its access to new customers and end markets.

Heras, an Equistone-backed perimeter protection specialist headquartered in the Netherlands, has acquired SER Hegn, a Danish fencing and perimeter protection installer based in Fredericia. The add-on strengthens Heras' Scandinavian footprint and supports Equistone's consolidation strategy in the fragmented European perimeter protection market.

Installed Building Products, Inc. (NYSE: IBP) has acquired Custom Glass & Doors, Inc. (CGD), a Norcross, Georgia-based installer of glass, shower, shelving and mirror services. CGD (founded 1986) generates approximately $7.1 million of annual revenue and the deal expands IBP's complementary installation capabilities in the greater Atlanta market.

U.S. LUMBER GROUP LLC, a wholly owned subsidiary of Specialty Building Products, LLC, has acquired Mid-State Lumber Corp., a regional wholesaler of building materials. The deal preserves Mid-State's brand and leadership and expands U.S. LUMBER/Specialty Building Products' product offering and geographic footprint across the Mid-Atlantic and New England.

Polycor Inc., the world's largest natural stone quarrier, has agreed to acquire North Carolina Granite Corporation (NCGC), a leading quarrier and producer of White Mount Airy Granite based in Mount Airy, North Carolina. The deal — expected to close before the end of 2020 and subject to closing conditions — expands Polycor's geographic footprint and product portfolio; NCGC operates since 1889 with roughly 80 employees.

Specialty Product Hardware Ltd. (SPH) has acquired Ontario Commercial Doors Ltd., a Toronto-based manufacturer and supplier of industrial and commercial doors. The deal — terms undisclosed — expands SPH's supply, distribution and commercial door offerings across Ontario and follows the retirement of Ontario Commercial Doors' founder Charles Malone.

TowerBrook Capital Partners agreed to acquire the Rail business of Consolis, a portfolio of precast concrete brands that design and manufacture sleepers and other precast products for railways across Europe. The transaction is a sale/divestiture by Consolis and is subject to social dialogue with employees and customary regulatory approvals; TowerBrook intends to develop the Rail business as a standalone, growth-oriented platform.

SPS Companies Inc. has acquired the assets of US Wholesale Pipe & Tube Inc., a Holiday, Florida-based distributor and manufacturer of galvanized mechanical steel pipe and tube products. The seller/owner Ed Rachel is stepping aside while the target's executive management (led by JR Baker and Rob Posavec) will remain; SPS said the deal expands its Tubular Products Group and distribution/manufacturing capabilities across five U.S. locations.

Black Diamond Group, through its U.S. subsidiary BOXX Modular, acquired Vanguard Modular Building Systems on November 30, 2020. The deal expands BOXX Modular's footprint across the eastern United States and strengthens Black Diamond's Modular Space Solutions segment by adding Vanguard's lease, sales and financing capabilities.

An affiliate of Paceline Equity Partners, a Dallas-based private equity manager, was the successful bidder to acquire substantially all assets of Quick Fitting, Inc. as part of a receivership process, with closing anticipated on December 16, 2020. Quick Fitting, headquartered near Providence, Rhode Island, manufactures push-to-connect fittings used across plumbing, electrical, HVAC and fire suppression end markets; Paceline plans to continue operating the business in Rhode Island and support its growth.

Unified Door and Hardware Group, a portfolio company of Dunes Point Capital, has acquired Joffe Lumber & Supply Co., a Vineland, New Jersey–based distributor of doors, frames and hardware. The deal is an add-on acquisition that expands Unified's distributor footprint and product capabilities in the building products market.

Clearlake Capital Group has signed a definitive agreement to acquire TKE Holdings, Inc. (dba Dimora Brands) from affiliates of The Jordan Company. Dimora Brands, a Dallas-based designer, manufacturer and seller of high-end cabinet and door hardware, faucets and home accessories led by CEO Greg Gottlieb, will continue to be led by its existing management team; financial terms were not disclosed and the deal was expected to close in December 2020.

SouthernCarlson, a subsidiary of Kyocera Corporation, has acquired Seattle-area Manor Hardware, a family-owned construction supply and tool repair business with locations in Everett, Tacoma and Lynnwood, Washington. The acquisition expands SouthernCarlson's multi-family supply and service capabilities and establishes a presence in the Pacific Northwest; terms were not disclosed.

Great Day Improvements, a vertically integrated home improvement company, has acquired Apex Energy Solutions, a direct-to-consumer provider of energy-efficient replacement windows and patio doors. The acquisition expands Great Day's product capabilities and geographic footprint across the U.S., adding Apex's network of company-owned and franchised locations and its proprietary sales and installation platform.

UMAX Group Corp., an OTC-listed Nevada corporation, has acquired Home Foam Corporation, a Las Vegas-based custom manufacturer of expanded polystyrene (EPS) architectural products, packaging inserts and geo-foam. The acquisition was completed via an equity exchange making Home Foam a wholly owned subsidiary; Home Foam operates a 12,500 sq. ft. facility with nine full-time employees and services regional commercial and home-building clients.

Renovation Brands, a parent company of multiple online home improvement brands (owned by Digital Fuel Capital), has acquired Profile Designs, a Port Richey, Florida-based maker of artisanal decorative finishes for American Tin Ceilings. The acquisition will expand American Tin Ceilings' capacity for custom finish projects and broaden Renovation Brands' product offerings in the home improvement / building products market.

Cameron Ashley Building Products, a portfolio company of Pacific Avenue Capital Partners, acquired Martin Distributors, a two-location distributor of lumber, roofing, gypsum and insulation based in Alexandria and Lafayette, Louisiana. The add-on expands Cameron Ashley's product offering (adding lumber and engineered wood) and provides the company entry into the Louisiana market; Martin's separate retail locations in Pineville and Minden were not part of the transaction.

Fortune Brands Home & Security, Inc. agreed to acquire LARSON Manufacturing for approximately $660 million, adding the North American storm, screen and security door leader to its newly renamed Outdoors & Security segment. LARSON, headquartered in Brookings, South Dakota, with roughly $390 million in revenue and about 1,200 employees, expands Fortune Brands' outdoor living and door product portfolio and is expected to be immediately accretive to earnings.

Versare Solutions, a Minneapolis-based portfolio company of WILsquare Capital, has acquired substantially all assets of EverBlock Systems, a New York-based maker of modular room partitions, building blocks and interlocking flooring. The deal combines EverBlock's patented modular products with Versare's manufacturing, eCommerce and digital marketing capabilities to expand product offerings and distribution; terms were not disclosed.

Installed Building Products, Inc. (NYSE: IBP) has acquired WeatherSeal Insulation Co., LLC, a Charlottesville, Virginia-based provider of fiberglass and spray foam insulation for residential customers. The acquisition (approximately $6.4 million of annual revenue) expands IBP's presence in Virginia and adds to its ongoing roll-up strategy of insulation and complementary building-product installers.

TorQuest Partners and Caisse de dépôt et placement du Québec (CDPQ) announced a majority investment in Barrette Outdoor Living Inc., North America’s leading manufacturer of vinyl, aluminum and steel fence and railing, composite decking, and other outdoor products. Les Entreprises Barrette Ltée will retain a significant minority stake and the company's management team, led by CEO Jean desAutels, will remain in place; terms were not disclosed. The investors said the capital will support the company’s next phase of growth and geographic expansion across North America.

The Bukas Lighting Group, a St. Charles, Illinois–based holding company focused on lighting brands, has acquired SPI Lighting, Inc., a designer and manufacturer of commercial and architectural LED lighting based in Mequon, Wisconsin. The seller was the Doerr family; the acquisition expands BLG's portfolio of architectural lighting brands and preserves SPI's independent brand and manufacturing operations.

Capitala Group, alongside Gladstone Investment Corporation and KCM Capital Partners, has made a debt and equity growth investment in Mason West to support the company's ongoing expansion. Mason West, based in Placentia, California, is an industry leader in engineered seismic restraint and vibration isolation products serving MEP contractors across healthcare, technology, education and government construction markets.

Atkore International Group Inc. acquired the assets of Queen City Plastics, Inc., a Fort Mill, South Carolina-based manufacturer of PVC conduit, elbows and fittings for the electrical market. The acquisition expands Atkore's product portfolio and strengthens its ability to serve customers in the Southeast and mid-Atlantic U.S.; terms were not disclosed.

Renin Holdings LLC, a wholly-owned subsidiary of BBX Capital, acquired substantially all of the assets of Colonial Elegance for approximately USD $39.0 million (plus estimated excess working capital of ~USD $5.1 million). The acquisition, funded with a credit facility and a USD $5.0 million equity contribution from BBX Capital, expands Renin's product offering and customer reach in barn doors, closet doors and stair parts across North America.

Innovative Chemical Products (ICP Group) has acquired Leeson Polyurethanes, a U.K.-based manufacturer of polyurethane adhesives and coatings. ICP will incorporate Leeson's product portfolio into its ICP Building Solutions Group to broaden its professional building-product offerings and extend its reach across Europe and globally.

A fund advised by Patrimonium Private Equity Advisors AG has acquired a majority stake in ROTH GRUPPE AG from funds advised by Equistone Partners Europe; financial terms were not disclosed. ROTH GRUPPE, based in Gerlafingen, Switzerland, is a specialist provider of passive fire protection, technical insulation and coating solutions with c.450 employees; Patrimonium said it will pursue synergies and long-term growth while keeping the company's operational structure unchanged.

Elvisridge Capital, a private investment firm based in Beachwood, Ohio, has acquired Reliance Supply Company USA, LLC, which operates under the SurfaceLogix brand. Elvisridge said it will support SurfaceLogix’s growth by expanding distribution and adding complementary products while keeping current management in place.

Installed Building Products, Inc. (NYSE: IBP) has acquired Insulation Contractors/Magellan Insulation (known locally as Icon), a Kent, Washington-based installer of insulation, waterproofing and firestopping serving commercial and multi-family customers across Washington and Oregon. Icon brings approximately $26 million of annual revenue and expands IBP's presence in the Pacific Northwest commercial and multi-family markets.

Henry Company, a leader in building envelope systems, has agreed to acquire National Coatings Corporation, a Camarillo, California-based manufacturer of acrylic elastomeric commercial roof coating systems. The acquisition expands Henry’s roof restoration product portfolio (adding AcryShield, AcryPly and RenuWall) and strengthens its position in commercial roof restoration and energy-efficient weatherproofing across the U.S.

California-based Elite Lighting won a bankruptcy auction to purchase the assets of Edison Price Lighting after outbidding GE Current (a Daintree company) with a $4.15 million bid. The purchase—subject to court approval—transfers the historic Edison Price brand and product assets to Elite, enabling Elite to expand its architectural and track-lighting portfolio.

Arcosa, Inc. acquired Strata Materials for approximately $87 million to expand its aggregates footprint in the Dallas–Fort Worth region. Strata operates five recycled-aggregates locations and one natural-aggregates plant, produced more than 2 million tons over the prior 12 months, and had trailing 12-month Adjusted EBITDA of about $10.2 million (~8.5x).

Centerbridge Partners, a private investment firm, agreed to acquire American Bath Group from affiliates of Lone Star Funds, with ABG management retaining a significant ownership stake. The deal (expected to close in Q4 2020) positions Centerbridge to support ABG's growth through continued investment in product offerings, channel expansion, and strategic initiatives.

H.I.G. Capital, through an affiliate, acquired Hart & Cooley, LLC from Johnson Controls International plc in October 2020. The private equity buyer will operate Hart & Cooley as a standalone company alongside current management to pursue growth, innovation and operational improvements across its HVAC and air-distribution manufacturing footprint.

Premier Steel Doors and Frames has acquired MegaMet Industries, a Birmingham, Alabama-based manufacturer of specialty hollow metal doors (acoustic, blast-proof, ballistic and RF-shield). The deal, sourced and announced by OpenGate Capital, is an add-on to Premier within the S&G family of brands and expands Premier's product offering and capabilities across government, medical and commercial end markets; terms were not disclosed.

TopBuild Corp. (TruTeam) acquired Garland Insulating, a large family-owned insulation installer operating across Texas and Colorado, for an undisclosed amount. The acquisition expands TopBuild’s TruTeam footprint in Texas and brings Garland’s leadership team into TruTeam as TopBuild integrates Garland onto its ERP and supply chain platforms.