Building Products Acquisitions in Illinois

Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired Builders Cabinet, Inc., a Chicago-based designer, manufacturer and installer of premium and semi-custom cabinetry serving the greater Chicagoland market. Founder and president Brian Benner prepared for retirement as part of the transaction; VP Brian Benner (owner) will transition out and Ben VanDixhorn will continue as vice president to support growth under Salt Creek's ownership.

First Supply, the family-owned Wisconsin wholesaler, has acquired Able Distributors, a Chicagoland HVAC supplier with four branches in the Chicago area. The deal adds 48 team members, expands First Supply’s presence in a priority Midwest market and brings Able’s hydronic heat, radiant systems and HVAC product offerings into the First Supply organization.

Everside Capital Partners announced the full realization of its investment in Alcrete LLC, a precast and prestressed concrete manufacturer headquartered in Oakbrook Terrace, Illinois. The transaction—details of any external buyer were not disclosed publicly—included a refinancing of Everside's senior subordinated debt and the simultaneous redemption of its equity warrants.

James Hardie Industries plc completed its previously announced acquisition of The AZEK Company in a cash-and-stock transaction valued at an implied $8.4 billion, paying $26.45 in cash plus 1.0340 James Hardie ordinary shares per AZEK share. The deal combines AZEK's composite decking, trim and outdoor living brands with James Hardie's exterior building product portfolio to create a leading provider of exterior home and outdoor living solutions.

Advanced Drainage Systems, Inc. (ADS) has acquired River Valley Pipe LLC, a privately owned manufacturer of corrugated plastic pipe serving the agriculture market, headquartered in Lacon, Illinois with manufacturing locations in Illinois and Iowa. The acquisition supports ADS’s strategic priority to grow its market-leading position in stormwater and agricultural drainage across key Midwest states and expands its manufacturing footprint and capabilities in those regions.

The Riverside Company has acquired Door and Window Guard Systems, Inc. (DAWGS) from NextGen Growth Partners, marking an exit for NGP’s Fund II. DAWGS, a Chicago-based provider of steel door and window guards and vacant property security services, will join Riverside’s portfolio as it looks to support further growth and geographic expansion.

Tonka Bay Equity Partners has invested in LightMart Holdings LLC, a Lake Zurich, Illinois-based value-added distributor and manufacturer of outdoor commercial and industrial lighting products. The transaction is a majority recapitalization that partners Tonka Bay with founders Sami and Lori Ozgen to provide founder liquidity and accelerate the company’s growth through strategic investments and operational improvements.

KPS Capital Partners has completed the acquisition of Crane Composites, a U.S.-based manufacturer of fiberglass-reinforced plastic (FRP) composite panels. Crane Composites operates multiple manufacturing sites (including Channahon, Illinois) and employs several hundred people; KPS will own and manage the business through its affiliated management entities.

Indianapolis-based Dealers Wholesale has acquired Palatine Builders Supply (PBS), a Wood Dale, Illinois distributor of doors, frames and hardware. The deal expands Dealers Wholesale's Midwest presence and adds PBS's in-house fabrication and retrofit capabilities to Dealers Wholesale's existing portfolio, which includes ClearPath Connections.

Pacific Avenue Capital Partners has completed the acquisition of H.B. Fuller’s North American Flooring Business, which will operate as TEC Specialty Products. Headquartered in Aurora, Illinois, TEC manufactures flooring repair and installation products (adhesives, grouts, mortars and moisture mitigation systems) across six manufacturing facilities and three warehouses and will be positioned for growth under Pacific Avenue’s stewardship following the carve-out.

Do it Best Corp. has agreed to acquire substantially all of the business operations of True Value Company, with True Value initiating Chapter 11 proceedings to complete the sale. Do it Best will assume significant liabilities, acquire assets including inventory, brand rights and paint manufacturing facilities, and operate True Value as a separate subsidiary to support the network of roughly 4,500 independent retailers.

Pelco Products, an Edmond, Oklahoma-based portfolio company of River Associates, acquired Component Products, Inc., a family-owned traffic and light pole manufacturer based in Elmhurst, Illinois. The add-on transaction closed on October 3, 2024 and will keep CPI operating in Elmhurst while expanding Pelco's product offering, capacity and geographic footprint across the U.S. and Canada.

Beacon (Nasdaq: BECN) has completed the acquisition of Chicago Metal Supply & Fabrication, a family-owned architectural sheet metal fabricator based in Chicago. The purchase expands Beacon's metal solutions capabilities and commercial/residential offering in the Chicago area as part of its continued footprint expansion strategy.

PARIC Holdings has acquired Chicago-based Corporate Concepts, a leading Midwest contract furniture dealer, and will integrate it into its I3 Group alongside Interior Investments and Intereum. The acquisition expands PARIC/I3 Group's workplace solutions capabilities across furnishings, walls, and audio-visual products to better serve corporate, education, and healthcare clients.

An affiliate of Angeles Equity Partners has acquired O'Hara's Son Roofing (OSR), a national commercial and industrial roofing provider headquartered in Chicago, Illinois. Angeles will partner with OSR's CEO Luke Coleman and the existing management team to grow the business as a scaled platform in building services; financial terms were not disclosed.

AFS Group (America’s Floor Source) has acquired the assets and intellectual property of Lewis Floor & Home, a third-generation flooring, countertop, cabinet and window-treatment dealer based in Northbrook, Illinois. AFS will retain key senior leaders including owner Steve Lewis and keep the business operating from its Northbrook location as it integrates Lewis’s premium product offering and operational capabilities into its platform.

Norwest Equity Partners (NEP) has acquired MDC Interior Solutions, a 50+ year provider of commercial interior wallcoverings and design solutions. The transaction closed April 26, 2024; NEP will partner with MDC management to support growth initiatives and expand the company's end markets and product portfolio.

The owners of Quality Hinges have acquired S&S Hinge, a long-standing manufacturer of standard and custom continuous hinges founded in 1932. Sikich Investment Banking served as exclusive sell-side adviser; the deal is intended to expand Quality Hinges' product capabilities, customer base, and geographic reach (terms were not disclosed).

Versare Solutions, a portfolio company of WILsquare Capital, has acquired Screenflex Portable Partitions, a manufacturer of portable room dividers and space-efficiency solutions. The add-on strengthens Versare's product offering and market position serving churches, schools, corporations and retailers; terms were not disclosed.

Argosy Private Equity acquired a controlling interest in Barco Products, a Batavia, Illinois-based designer, manufacturer and distributor of commercial outdoor site furnishings and traffic safety products. Argosy plans to execute its Value Acceleration Methodology to drive geographic expansion, evaluate add-on acquisitions, and coordinate sales and marketing initiatives to grow the business.

Pultrall Inc, a Canadian manufacturer of glass-fiber rebar, has acquired U.S.-based Fiberglass Innovations to extend its North American footprint and bolster production capacity. The deal will enable Pultrall to supply an American-made product that meets U.S. trade regulations and facilitate collaboration and resource sharing between the companies.

Louisville Tile, a family-owned tile and surface solutions distributor headquartered in Louisville, Kentucky, acquired American Olean Midwest (AOM) of Elk Grove Village, Illinois. The June 26, 2023 transaction expands Louisville Tile’s Midwest distribution network — integrating AOM’s Chicago and South Bend branches and strengthening the buyer’s position across nine contiguous states.

GMS Inc. has completed the acquisitions of Engler, Meier & Justus, Inc. (EMJ) in the Chicago area and Blair Building Materials, Inc. in Maple, Ontario, expanding its North American footprint. The deals (closed April 3, 2023) strengthen GMS's commercial interior and exterior product offerings and extend service reach in the greater Chicago and Toronto markets.

Core & Main Inc. has entered into a definitive agreement to acquire substantially all of the assets of Landscape & Construction Supplies LLC, a Chicago-area producer and supplier of geosynthetics, silt fence and erosion-control products. The acquisition adds two Chicago‑metro locations and manufacturing capability to Core & Main’s national distribution platform, expanding its geosynthetics and erosion-control product offering to municipal and contractor customers.

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.

Zurn Water Solutions Corporation completed its previously announced combination with Elkay Manufacturing Company, forming Zurn Elkay Water Solutions Corporation headquartered in Milwaukee, Wisconsin. Under the terms, Elkay shareholders received approximately 51.6 million shares of Zurn common stock (owning ~29% of the combined company), and the combined company expects roughly $50 million of synergies and a broader sustainable water solutions portfolio.

Kambium, Inc., a Minnesota-based manufacturer and wholesaler of closets and casework, has acquired Perfection Custom Closets (PCC), a custom closets provider based in Niles, Illinois. The transaction, which closed May 31, 2022, was advised by Generational Equity and expands Kambium's product and regional presence in the Chicagoland market.

Owens Corning has acquired Natural Polymers, LLC, a Cortland, Illinois–based manufacturer of spray polyurethane foam insulation. The acquisition — completed after regulatory approvals — expands Owens Corning's insulation product portfolio with Natural Polymers' low-VOC, GREENGUARD Gold–certified technologies; financial terms were not disclosed.

Cibes Lift Group AB has acquired Bella Elevator LLC, a US-based manufacturer and distributor of home elevators and accessibility lifts. Bella will continue to operate independently and will work with Cibes’ U.S. subsidiaries and distributor network to expand Cibes’ presence nationwide while giving Bella access to Cibes’ product portfolio and commercial resources. CIBC Cleary Gull served as exclusive financial advisor to Bella Elevator in the transaction.

Beacon (Nasdaq: BECN) has acquired Complete Supply, Inc., an independent distributor of residential roofing and exterior building supplies based in Willowbrook, Illinois. The acquisition expands Beacon’s presence in the Chicago metropolitan market and is intended to enhance service levels and deliver Beacon’s digital and product offerings to Complete Supply customers.

PrimeSource Brands, a Clearlake Capital-backed provider of specialty residential building products, has acquired Axxis, LLC, a distributor of fastening tools and collated fasteners that markets under the Complete and KlinchPak brands. The add-on deal expands PrimeSource's pneumatic fastener portfolio and customer reach; financial terms were not disclosed and Axxis CEO Carl Schneider will remain involved.

Chicago-based private investment firm PSP Capital has acquired StormTrap, a Romeoville, Illinois-based provider of underground stormwater management systems, from Warren Equity Partners. The transaction was completed in partnership with StormTrap's management team and founding family; PSP said it will leverage its building products and infrastructure focus to support StormTrap's growth across North America and international markets.

Gryphon Investors has acquired Benoist Brothers Supply Co., a 90-year-old Midwest HVAC/R distributor with 13 branches, and will operate the business as an independent division of its Wittichen Supply Holding Company. Benoist's management and the Benoist family retain a minority stake; the deal creates a multi-region HVAC/R distribution platform to expand geographic coverage and product availability across the Midwest and Southeast.

Jon-Don, a national distributor of commercial supplies and equipment based in Roselle, Illinois, has acquired USA-CLEAN, a Decatur, Illinois-based supplier of floor care equipment parts and repair services. USA-CLEAN employs about 50 people and operates a network of over 600 repair technicians; founder Bruce Bushert will remain president and join the Jon-Don team to support growth and integration.

Full Guard Capital has partnered with Library Furniture International (LFI) and its management team to provide strategic growth capital to accelerate LFI's long-term expansion plans. LFI is a provider of library space design services and a dealer/installer of shelving and furniture serving public libraries, K-12 schools, and universities; the company plans geographic expansion and to pursue add-on acquisitions with Full Guard's support.

NextGen Growth Partners (NGP) made an investment in Door and Window Guard Systems, Inc. (DAWGS) in October 2021 to recapitalize the business and support growth. Concurrent with the investment NGP named Entrepreneur-in-Residence Nick Oberhouse as CEO while founder Brandon Buhai remains active as President; DAWGS provides steel door and window panels and turnkey installation, serving customers across 19 states and Washington, D.C.

Marcone, a Genstar Capital portfolio company, has acquired Munch's Supply, a leading distributor of HVAC equipment, parts and supplies headquartered in Hillside, Illinois. Harvest Partners SCF, LP made a non-control investment in Marcone to support the transaction; Ridgemont Equity Partners sold its stake and will retain a meaningful minority interest alongside Munch's management.

Charlesbank Capital Partners has acquired Empire Today, the largest shop-at-home direct-to-consumer flooring company in the United States, from H.I.G. Capital. H.I.G. will remain a minority investor alongside management; terms were not disclosed.

Private equity funds managed by Blackstone have completed the acquisition of Chamberlain Group from The Duchossois Group. The investment positions Chamberlain Group to scale its hardware and software-based connected access services (myQ) into broader commercial, industrial and automotive markets, while The Duchossois Group retains meaningful equity and board representation.

Artemis, a Boston-based private equity firm, has acquired R.M. Lucas, a Chicago-headquartered manufacturer of coatings, sealants, and adhesives for roof repair and restoration. Artemis intends to operate R.M. Lucas as an independent company and leverage it within its Specialty Chemicals and Advanced Materials portfolio to grow the roof repair and restoration coatings business.

Specialty Products and Insulation (SPI), a portfolio company of Dunes Point Capital, has acquired Amerisafe, Inc., a distributor of commercial and industrial insulation and safety equipment based in Aurora, Illinois. The deal is an add-on acquisition that expands SPI's distribution footprint and product offering in the commercial, industrial and residential building markets.

31st Street Capital, a family-owned holding company, acquired Total Flooring, Inc., a Homer Glen, Illinois-based flooring retailer and installer, on June 1, 2021. The transaction adds another showroom-based flooring business to 31st Street Capital's growing portfolio as part of its strategy to consolidate regional flooring companies and expand presence in strategic U.S. markets.

H.I.G. Capital affiliate completed a growth investment in Homewerks Worldwide, a Lake Bluff, Illinois-based developer, sourceer and marketer of kitchen, bathroom and plumbing home improvement products. The investment will partner H.I.G. with CEO Peter Berkman and management to fund new product development, expand sales, marketing and distribution capabilities, and pursue organic and inorganic growth across the fragmented home improvement market.

McGrath RentCorp (via its Mobile Modular division) has acquired Kitchens To Go, a provider of interim and permanent modular foodservice facilities. The acquisition, funded via McGrath's revolving credit facility, expands Mobile Modular's capability to offer temporary and customized commercial kitchen solutions nationally to education, healthcare, hospitality and commercial customers; financial terms were not disclosed.

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.

CMI Limited Co., a portfolio company of private equity firm Capital Partners, has acquired Engineered Plastic Systems (EPS), the maker of Lumberock, Bear Board and Perennial Park Products. The acquisition expands CMI's extrusion-based product portfolio and regional manufacturing footprint, adding HDPE decking, railing and marine-grade products to its offerings.

Zurn Water, LLC (Milwaukee) has acquired the assets of Just Manufacturing, a third-generation family-owned maker of stainless-steel designer and engineered sinks, commercial faucets and accessories. The acquisition (Just operates a 175,000 sq. ft. facility in Franklin Park, Illinois with ~135 employees) expands Zurn's product portfolio and strengthens its position in the commercial building specification market.

York, Pennsylvania-based Wolf Home Products has acquired Carstin Kitchen & Bath Surfaces, an Illinois-based fabricator and supplier of marble, granite, quartz and solid-surface countertops. The acquisition expands Wolf's kitchen and bath division and extends its regional footprint across several Midwestern states served by Carstin.

Arcapita’s portfolio company MC Group acquired Icon Identity Solutions, a leading U.S. signage and brand-implementation company, from Merit Capital Partners in August/September 2019. The acquisition expands MC Group’s service offering and national footprint—combining MC’s energy services with Icon’s interior, remodel and signage capabilities—while keeping Icon’s Rolling Meadows, Illinois office as a secondary operations base.

Sound Seal Holdings, a portfolio company of The Stephens Group, acquired Illinois-based Noise Barriers, LLC. Noise Barriers will operate as a stand-alone division of Sound Seal to expand Sound Seal's product portfolio and sales reach in the acoustical noise-control market; the company's founder will remain on as an adviser.