Ridgemont-Backed Cook & Boardman Buys Delta Door for Geographic Growth
ABC, Blue Wolf, Meridian General, Southwire and United Subcontractors recently purchased construction companies
The Cook & Boardman Group, backed by Ridgemont Equity Partners, has purchased door and frame distributor Delta Door and Hardware LLC. M&A for the construction industry is expected to expand in 2017.
Founded in 1964, Delta Door is a Memphis, Tennessee-based distributor of commercial doors, frames and hardware equipment such as hinges and security systems for doors. The target also offers a range of services including: new construction management, tenant renovation, city sales, architectural specifications, key system management, access control systems, and building standards development. Delta Door distributes a variety of hardware brands, including: Ceco Door, Falcon, LCN, Hager Companies, Ives, Detex, Yale, Stanley, McKinney, and Sargent.
Cook & Boardman is also a distributor of branded metal and wood doors, door frames, door hardware. The buyer targets the non-residential construction sector with clients in the education, municipal, healthcare, commercial, office, multi-family, and hospitality industries. The deal for Delta Door helps Cook & Boardman expand its geographic reach into Tennessee, Arkansas and Mississippi.
Ridgemont is a Charlotte, North Carolina private equity firm that typically invests $25 million to $100 million in companies that have up to $30 million in Ebitda. Recently, the firm purchased WoodRidge Behavioral Care through its portfolio company Perimeter Healthcare; bought Corrosion Specialties Inc. through its portfolio company APE Cos.; and acquired Unishippers Global Logistics, a third party packing and heavy freight services company. In 2015, the firm raised its second fund of 2015 with $995 million in capital commitments. Ridgemont has invested more than $3.5 billion in more than 130 companies.
Recent construction acquisitions include: Blue Wolf Capital Partners LLC’s acquiring Nacs USA Inc., a North American millwork business, from Tenon Holdings; Southwire Co. LLC’s buying United Copper Industries Inc., a maker of electrical wire, from KPS Capital Partners; United Subcontractors Inc.’s purchase of insulation contractor Southern Foam and Coating; Meridian General Capital’s buying of PowderCoat Services Inc., which provides coating services to construction, automotive, consumer and electronics sectors; and ABC Supply Co.’s purchase of L&W Supply, a distributor of drywall, ceiling tiles and steel framing materials to building contractors, from USG Corp. (NYSE: USG).
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