Betting on a construction sector recovery, the Florida PE firm will acquire the fabrication company for $53.8 million.
Amidst a home construction slowdown, the seller contends the remodeling sector remains solid as a result of spending patterns.
After being bought by OAO Severstal in 2008 the industrial group has gone on a dealmaking spree and could be buying even more.
Brian Hogan arrives from BofA Merrill Lynch, where he had headed the firm's global building and construction group.
The platform will act as a holding company for Stock Building Supply's former operations in Wisconsin, New York and Connecticut.
The ABS- and MBS- sector investor will establish a fund to take advantage of the current lack of market liquidity in the sector, says president.
TowerBrook Capital Partners is exploring investment opportunities in the building products area.
Morgan Construction has been acquired by Siemens VAI Metals Technologies for about $130 million, not including about $30 million in debt that came along with the firm.
SK Capital Partners, LP, an affiliate of The Valence Group, a newly formed merchant bank, acquired Aristech Acrylics, an acrylic sheets and solid surface products supplier, from Mitsubishi Corporation.
It's not so much that the manufacturing sector is changing it's that it has already been transformed, and in the new environment change is a constant.