Middle-market private equity firm Monomoy Capital Partners has completed its purchases of building product companies Construction Resources Inc. and Builder Specialties Inc. for an undisclosed amount. As a result, the PE firm will merge both targets into one company that will be called Construction Resources.
Construction Resources, located in Alpharetta, Georgia, makes floors, bathtubs, countertops and sinks. Builder Specialties, based in Atlanta, Georgia, distributes fireplaces, mantels and garage doors. The combined company will have 27 locations. Management teams from both targets will have a stake in Construction Resources.
“As the housing market continues to improve, particularly in greater-Atlanta and surrounding regions, we see a significant opportunity to expand and grow our business,” says Construction Resources president David Haun.
In other recent construction deals, Masonite International Corp. (NYSE: DOOR) completed its purchase of USA Wood Door; PGT Inc. (Nasdaq: PGTI) is buying WinDoor Inc.; and Wynnchurch Capital is investing in Gypsum Technologies Inc.
For more on how the housing market recovery is driving construction deals, see Home Building Surge Will Lead to More Building Products M&A.