PrimeSource Building Products Inc., a North American provider of specialty branded residential building products, has signed a definitive agreement to acquire NWI Enterprises, a provider of branded specialty hardware for outdoor residential applications including fence & gate hardware, railing systems and perimeter security, from affiliates of Harbour Group. PrimeSource is backed by Clearlake Capital Group LP. The transaction is PrimeSource’s second acquisition during Clearlake’s ownership, which acquired the Company in December 2020 and concurrently merged it with Dimora Brands.
“We are thrilled to add Nationwide to the PrimeSource portfolio,” said Tom Koos, CEO of PrimeSource. “The Nationwide team has built a stable of brands and products that fits well with our existing platform and our national scale will enable us to grow this business at an accelerated pace. Along with Dimora Brands, Nationwide continues our efforts to build the branded specialty building products platform with the largest sales and service platform in the industry. Our depth of catalogue combined with our customer reach gives us a unique advantage.”
“In combination with our acquisition of Dimora Brands, the acquisition of Nationwide represents another successful step in our strategy to aggressively grow PrimeSource and create a scale specialty residential building products platform,” said José E. Feliciano, co-founder and managing partner of Clearlake, and Colin Leonard, partner of Clearlake. “Partnering with Tom and the PrimeSource team last year, we sought to deploy our O.P.S.® playbook to capitalize on the Company’s unique footprint and logistics network, as well as its comprehensive channel reach by expanding the branded product portfolio across residential building product applications. We look forward to continuing our exciting growth trajectory with both organic and acquisition initiatives going forward.”
BlackArch Partners acted as the exclusive financial advisor to Nationwide and its shareholders. PrimeSource was advised by Baird and a fully committed facility to finance the transaction was provided by Deutsche Bank Securities Inc.