Building Products Acquisitions in 2022

Charger Investment Partners has acquired CMI Limited Co., a Woodstock, Georgia-based designer and manufacturer of shoreline preservation and marine access products, in a transaction announced in January 2023. Heartwood Partners Fund II, LP exited its investment in CMI as part of the sale; financial terms were not disclosed. Charger partnered with CMI management to support the company's next phase of growth.

Pella Corporation has acquired Win-Dor, LLC, a vinyl window and door manufacturer located near Brea, California. The acquisition expands Pella's vinyl product portfolio and production capacity, with Win-Dor's ~200 employees remaining with the business and continuing to operate under the Win-Dor brand.

Fi-Foil Company, a portfolio company of Validor Capital, has acquired Kennedy Insulation Group, a Carthage, Missouri-based maker of the VerSola™ reflective bubble insulation. The acquisition expands Fi-Foil’s reflective insulation product line and U.S. manufacturing and geographic sales coverage across the southwestern and southeastern United States; terms were not disclosed.

Facility Solutions Group (FSG) has acquired West-Lite Supply, a California-based lighting product distributor, to expand FSG’s service offerings and distribution footprint across Northern and Southern California. West-Lite’s staff, facilities and services will join FSG, allowing existing West-Lite customers continued support plus access to FSG’s broader capabilities.

Beijer Ref AB has signed a binding agreement to acquire Heritage Distribution Holdings from Gryphon Investors for USD 1,275 million (USD 1,175 million excluding certain tax benefits). Heritage Distribution, headquartered in Atlanta, Georgia, operates a 64-branch HVAC/R parts and equipment distribution platform across ten U.S. states with approximately 800 employees; the acquisition is Beijer Ref's strategic entry into the North American market and provides a platform for further consolidation.

H.I.G. Europe, an affiliate of H.I.G. Capital, has completed the acquisition of Standard Hidraulica (STH), an international plumbing supplies and sanitary fittings group headquartered in Montcada i Reixac (Barcelona), from Aalberts N.V. H.I.G. said it will support STH’s transition to an independent company and accelerate organic and inorganic growth while leading consolidation in its core markets across Spain, the UK, South Africa and Greece.

Kodiak Building Partners, a building materials acquisition firm based in Highlands Ranch, Colorado, has acquired Diamond Home Improvement, a family-owned home improvement retailer headquartered in Southern Oregon with locations in Klamath Falls and Grants Pass. The acquisition expands Kodiak's Pacific Northwest footprint and strengthens its general lumber and building materials operations while preserving local autonomy and leadership under John Steiner.

Snavely Forest Products, a subsidiary of MacArthur Company, entered into a definitive agreement to acquire Mid-States Wholesale Lumber Company, an Oklahoma City-based wholesale lumber and building products distributor. The deal, expected to close by December 30, 2022, will preserve the Mid-States name and management while expanding Snavely's geographic footprint in the Midwest.

SEI Group LLC, a portfolio company of Quad‑C Management, announced the acquisitions of Insulation & Fireplace Services, LLC d/b/a Quality Insulation & Roofing (Conroe, TX), Finish Line Supply, Inc. (Raleigh, NC) and Affordable Energy Services, LLC (Richlands, NC). The deals expand SEI’s geographic footprint across Texas and North Carolina and broaden its insulation, roofing and specialty products installation capabilities; terms were not disclosed.

Legrand has acquired Encelium, an Ontario, Canada–based manufacturer of advanced commercial lighting controls, effective December 6, 2022. Encelium will join Legrand’s Building Control Systems division to expand Legrand’s commercial lighting control portfolio and accelerate product and solution offerings for commercial buildings and facilities managers.

Installed Building Products, Inc. (NYSE: IBP) has acquired Orr Industries, LLC, a regional insulation and fireproofing contractor with locations near Scranton, Pennsylvania. Orr generates approximately $10 million of annual revenue and the acquisition expands IBP's presence in Pennsylvania and adds spray foam, fiberglass insulation, fireproofing and waterproofing capabilities.

PFM Capital, alongside co-investors BDC Capital and Roynat Equity Partners, acquired a majority interest in Sexton Family of Companies (SFOC). The deal keeps current Chair Brian Kusisto involved and leaves Sexton Investments with a retained ownership stake; the investment is intended to support SFOC's next stage of national growth across its five business units serving the building products market.

Specialty Products & Insulation (SPI), a portfolio company of Incline Equity Partners, has acquired Intech Equipment & Supply. The acquisition adds spray polyurethane foam (SPF) equipment, mobile rigs, parts, and training capabilities to SPI's distribution and fabrication platform as it expands into the spray foam market; Blue River Financial Group served as SPI's M&A advisor.

Blackford Capital, a lower middle market private equity firm, has acquired Carlsbad, California-based Artificial Turf Supply (ATS) and added it as the second company in its Patio Consolidation Portfolio. ATS founder David Barbera will remain president of ATS and join Blackford as an Operating Partner as the platform pursues consolidation and growth across residential, commercial, pet and athletic turf markets.

MiddleGround Capital, via its Lindsay Precast platform, completed an add-on acquisition of Dutchland, Inc., a Gap, Pennsylvania-based manufacturer and installer of precast concrete tanks and structures for water and wastewater facilities. The deal expands Lindsay Precast's product offerings and geographic footprint across water/wastewater and related municipal and utility end markets; Dutchland was represented by BDO Capital Advisors.

BMC Benelux, a subsidiary of AURELIUS Equity Opportunities, has acquired family-owned builders' merchant Vandevoorde Bouwmaterialen NV in Wortegem-Petegem, Belgium. The add-on deal expands BMC Benelux’s footprint in East and West Flanders, strengthens customer and supplier alignment, and will develop the site into a new hub for the YouBuild network.

A consortium led by Danish investment company Kirk Kapital has acquired Mobilhouse, a Fredericia-headquartered provider of temporary modular buildings, from Adelis Equity Partners Fund II. Adelis, which acquired Mobilhouse in 2019 and helped transition the business to a 100% rental model, has divested its majority stake; financial terms were not disclosed.

Oldcastle APG, a CRH company, has acquired the packaging operations of Sterling Sand and the soil business of Soil Mender Products to expand production capacity and strengthen its Techniseal and Lawn & Garden capabilities. The deals extend Oldcastle APG's geographic footprint and manufacturing capabilities in the Southeastern United States and Texas to better serve large retail and construction customers.

Outdoor Living Supply (OLS), a Trilantic North America‑backed distribution platform focused on hardscapes, has acquired Tahoe Sand & Gravel, an independent distributor of bulk materials, hardscapes and masonry supplies serving the Lake Tahoe basin. Founders Steve and Roxanne Harding will continue to lead the business as part of OLS, expanding the platform's presence in the greater Lake Tahoe market.

MFG Partners, a New York-based private equity firm, has completed a strategic growth investment in A-Z Industries, a re-distributor of electrical wire and cable headquartered in Northbrook, Illinois. Company founders and Executive Vice Presidents Darren, Todd, and Eric Anixter retain significant equity and will continue to run day-to-day operations; terms were not disclosed.

Renovo Home Partners has acquired Minnesota Rusco, a New Hope, Minnesota-based direct-to-consumer home improvement company offering windows, doors, siding, bath and kitchen remodeling. The acquisition expands Renovo’s platform into the Midwest and adds a long-standing regional brand to its portfolio; Angle Advisors served as exclusive advisor to Minnesota Rusco.

Cairngorm Capital-backed PaintWell Limited has acquired Kent Blaxill Group Limited, adding 23 branches and extending PaintWell’s branch network across the East of England and the South East. The enlarged group will operate 46 branches with c.250 employees and combined revenues of £55m; members of the Kent and Blaxill families are exiting but reinvesting and Kent Blaxill’s management will remain.

Guardian Booth, a prefabricated-structures manufacturer, has fully acquired Homes by Keystone and will operate from the former Homes by Keystone facility at 13338 Midvale Road in Waynesboro, Pennsylvania. The acquisition expands Guardian Booth's manufacturing footprint and production capacity, brings former Homes by Keystone employees into the team, and relocates Guardian Booth's operations to Waynesboro.

Blue Ridge Construction Capital (BRCC) has acquired Artistic Paver Manufacturing, a premium interlocking concrete paver manufacturer based in North Miami Beach, Florida. Lometa Capital Partners made a minority equity investment to support BRCC's acquisition; founder Dan Essig will transition to an advisor role while Matthew Wayman joins as CEO to support growth across the Southeastern and Southwestern U.S.

Colony Hardware Corporation, a portfolio company of Audax Private Equity, has acquired Michigan-based value-added distributor B&L Bolt, Inc. and Slip-On Lock Nut, LLC. The add-on expands Colony's direct-to-jobsite distribution footprint in Michigan (Grand Rapids and Kalamazoo), broadens its product offering for contractors and manufacturers, and keeps management involvement with Dave Vander Ploeg retaining a stake.

Core & Main, Inc. (NYSE: CNM) has entered into a definitive agreement to acquire substantially all assets of Lanier Municipal Supply Co. Inc., a family-owned distributor of water, wastewater, storm drainage and irrigation products headquartered in Lakeland, Georgia. The acquisition expands Core & Main's footprint and resources across the southeastern U.S., adding Lanier's locations in Lakeland and Savannah, Georgia and Panama City and Lake City, Florida.

Outdoor Living Supply (OLS), a hardscape-focused distribution platform backed by Trilantic North America, has acquired LandCare Associates, Inc., an independent distributor of natural stone, hardscapes and landscape supplies based in Madbury, New Hampshire. The deal expands OLS' footprint in northern New England and will keep Daniel Gordon in place to continue leading LandCare.

Unified Door & Hardware Group, a portfolio company of Dunes Point Capital, has acquired Eaton Door and Frame, a value-add distributor of doors, frames and hardware based in Salem, New Hampshire. The acquisition is an add-on to Unified's platform to expand its distribution footprint and product capabilities in commercial, education, healthcare and other end markets.

US LBM, a leading privately owned distributor of specialty building materials, has acquired Comtech, a North Carolina-based manufacturer of structural roof and floor trusses and engineered wood products. Comtech will operate within US LBM’s Professional Builders Supply division, expanding US LBM’s manufacturing capabilities and service footprint across key markets in the Carolinas.

Foam Holdings, a portfolio company of Wynnchurch Capital, acquired Amvic, Inc. (Toronto, Ontario) and Concrete Block Insulating Systems, Inc. (West Brookfield, Massachusetts). The add-on acquisitions expand Foam Holdings' EPS insulation and insulated concrete form product offering and add complementary manufacturing locations to better serve customers across North America.

US LBM has acquired Georgia Truss, an Atlanta-area manufacturer and supplier of structural roof and floor trusses. The business will operate under US LBM’s Brand Vaughan Lumber, expanding the company's truss manufacturing capacity in the greater Atlanta market to serve residential, multifamily and commercial builders.

ABC Supply Co., Inc. has acquired the Monarch Group of Companies — including Monarch Siding Centre Inc., Monarch Exterior Centre Inc., and Monarch Metal Systems Inc. — marking ABC Supply’s first expansion into Canada. The acquisition adds five Monarch locations across Alberta (Calgary, Edmonton, Acheson, Red Deer and Lethbridge) and brings a regional distributor of siding, roofing and exterior building materials into ABC Supply’s network.

Truelink Capital has acquired Trulite Glass & Aluminum Solutions, one of North America's largest architectural glass and aluminum fabricators, from an affiliate of Sun Capital Partners. Truelink — a newly launched middle-market private equity firm based in Los Angeles — plans to support Trulite's geographic expansion, operational optimization and growth via strategic investments and M&A while retaining the existing management team.

Beaulieu International Group (B.I.G.) has signed an agreement to acquire Act Global, a US-based synthetic turf manufacturer headquartered in Austin, Texas. The acquisition expands B.I.G.'s artificial grass and sports-turf capabilities, adds North American manufacturing capacity and broadens its product reach into landscaping, aviation and landfill solutions.

Beacon (Nasdaq: BECN) has acquired Jacksonville, Florida-based Coastal Construction Products from Supply Chain Equity Partners and members of Coastal's current and prior management. The acquisition creates a nationwide specialty waterproofing division, expanding Beacon's coast-to-coast footprint and adding Coastal's 18 waterproofing locations and over 200 employees to Beacon's operations.

NGS (National Glazing Solutions, d.b.a. NGS Films & Graphics) acquired Sunset Glass Tinting in Houston, Texas, closing on November 1, 2022. The deal expands NGS' Texas footprint and adds Sunset's in-house custom printing capabilities to strengthen NGS' printed graphics and window film offerings.

Toronto-based private equity firm Ironbridge Equity Partners has completed the acquisition of Montreal-based Walker Glass Company Ltd., a North American leader in acid-etched glass, premium mirrors, and bird-friendly glazing. The deal, completed in partnership with Walker Glass management, involved the sale of the company by Kensington Capital Partners (which held a minority stake since 2016) and positions Walker Glass for further growth and capability expansion under Ironbridge's ownership.

Outdoor Living Supply (OLS), a Trilantic-backed distribution platform focused on hardscapes, has acquired Geobunga, an independent Honolulu-based distributor of garden elements, natural stone, pavers, bulk materials and landscape supplies. The founders Layla and Andrew Dedrick will remain in leadership roles as OLS expands its footprint into the Hawaiian market as an add-on to its platform.

Inter-Mountain Truss Company, Inc., a wood truss manufacturer based in Oakdale, California, was sold to Central Valley entrepreneur Jeff McKay by long-time majority owner Lance Lester; terms were not disclosed. Lester will assist with the ownership transition and plans to retire; McKay has hired David Johnson to run the business and was represented by Gold Country Advisors in the transaction.

Kodiak Building Partners has acquired Albeni Falls Building Supply, a long-standing lumber and building materials supplier founded in Oldtown, Idaho in 1948. The Melbourns (David and Susan) sold the business but will continue to lead operations as Kodiak looks to expand its Pacific Northwest footprint and provide backend support and resources.

Outdoor Living Supply (OLS), a Trilantic North America-backed distribution platform for outdoor living products, has acquired Bedrock Landscape Supply, an independent distributor of natural stone, pavers, bulk materials and landscape supplies serving the Las Vegas and Henderson, Nevada markets. The family-owned company founded by Mark Wilson (2018) will continue to be run by Mark after the acquisition, giving OLS a foothold in southern Nevada as it expands westward.

Belknap-Haines, a leading East Coast flooring distributor, has acquired Texas-based STC Floors (formerly Swiff-Train Company). The acquisition expands Belknap-Haines' geographic reach west into Texas, broadens its product offering, and increases market density across key markets including Florida.

Kodiak Building Partners has acquired Sunrise Builders Supply, a two-location building materials distributor founded in Horn Lake, Mississippi, expanding Kodiak’s footprint into the Mississippi and Tennessee markets. Sunrise will continue operating locally under Kodiak’s ownership, which Kodiak says will provide additional vendor access, growth opportunities, and operational support.

SiteOne Landscape Supply completed its acquisition of Madison Block & Stone, a wholesale distributor of natural stone, pavers, bulk materials and landscape supplies with one location in Madison, Wisconsin. The deal expands SiteOne's hardscapes presence in the Madison market and is the company's 14th acquisition in 2022 as it grows its national footprint.

svt Group, a portfolio company backed by Ergon, has combined with Technical Fire Safety Group Limited (TFSG) to expand its passive fire protection product portfolio and geographic footprint. TFSG management reinvests in the combined group; the deal strengthens svt's capabilities in fire safety glass and adds the UK, Benelux, France and Spain as core geographies.

PGT Innovations, Inc. (PGT) acquired Martin Door Holdings, Inc. for approximately $185 million, expanding PGT’s product portfolio into premium overhead garage doors. Martin, headquartered in Salt Lake City, Utah, generated about $60 million of expected 2022 sales and ~173 employees; the acquisition is intended to broaden PGT’s Western U.S. footprint and create cross-selling and operational synergies.

The Engineered Stone Group (an enterprise created by The Cranemere Group) has agreed to acquire the assets of Resiblock S.L., Baniana Bath S.L. and Bold The Solid Company S.L., a Spanish manufacturer of engineered stone and solid-surface shower trays and washbasins. The acquisition is an add-on to ES Group’s bathroom-products platform to expand manufacturing capacity, broaden product offerings and strengthen its presence in Southern Europe; financial terms were not disclosed.

Longwater Opportunities, an operationally focused private equity firm, has acquired Jetta Corporation, an Edmond, Oklahoma-based manufacturer of acrylic bathtubs. Terms were not disclosed; Jetta was owned by a consortium of 43 investors and was represented in the sale by ClearRidge.

PaintWell Limited, supported by its backer Cairngorm Capital Partners LLP, has acquired Promain UK Limited, the UK's largest distributor of industrial paints and surface coatings. The deal expands PaintWell's industrial paints offering, creates a new industrial paints division anchored by Promain, and facilitates the retirement of Promain's owners, Mark French and Carol Barry.

Milwaukee-based private equity firm Borgman Capital acquired K.G. Stevens, a Milwaukee countertop fabricator and installer that also provides cabinetry and luxury appliances. Founder Steve Kobliska retains an ownership stake and will remain president and CEO as Borgman partners with the leadership team to grow the business.