Sixth acquisition by ACS Expands LBM Distribution, Component and Millwork Manufacturing Capacity, and Specialty Installation Services in the West.
SPRINGFIELD, MO – February 26, 2020 – American Construction Source (“ACS”), a leading national building materials distribution platform for custom home builders and repair and remodel contractors, backed by Angeles Equity Partners, LLC (“Angeles”) and Clearlake Capital Group, L.P. (together with its affiliates “Clearlake”), today announced the acquisition of Homewood Holdings LLC (“Homewood”). Homewood will continue to operate under its existing local brand names of Homewood Lumber, Evergreen Lumber, Eagle Creek Siding, Custom Choice Door, and The Door Mill.
“ACS is excited to add Homewood to our growing portfolio of service-oriented lumber and building materials locations,” said James Drexinger, CEO of ACS. “For more than 80 years, these local market leaders have provided a high level of service to builder and professional remodeler customers in the Central and Northern California, Puget Sound Washington, and Central Arizona markets.”
“The Homewood team is energized to join ACS. I believe our combined talents and capabilities will yield great results for our customers,” said Jim Stockman, CEO of Homewood. “Angeles and Clearlake have significant experience creating value in businesses in which they invest. I am confident we will accelerate our growth and improve our ability to serve our customers as part of the American Construction Source platform.”
Simpson Thacher & Bartlett LLP provided legal counsel to ACS. Financial terms of the transaction were not disclosed.
Homewood Holdings is a regional lumber and building materials (LBM) pro dealer operating eight locations in California, Washington, and Arizona. The Homewood companies include Homewood Lumber in Loomis, CA; Evergreen Lumber in Port Orchard, WA; Eagle Creek Siding in Tumwater, WA; Custom Choice Door in Lakewood, WA; and The Door Mill in Chandler, AZ. Homewood serves local custom, regional, and national production homebuilders, residential and commercial contractors, and DIY customers in the greater Sacramento, Seattle, and Phoenix metro markets.
American Construction Source is an LBM distributor with 70+ locations in 9 states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. Recognizing the value and heritage of deep, local customer relationships as a strong foundation for growth, ACS best practices are designed to leverage shared strengths, drive operational excellence, and motivate performance to create a leading building products distributor with a national footprint and the industry’s best customer experience. ACS is backed by Angeles Equity Partners and Clearlake Capital Group. Learn more online at www.acs-lbm.com.
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $17 billion of assets under management and its senior investment principals have led or co-led over 200 investments. More information is available at www.clearlake.com.
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