Ridgemont Equity Partners has made a majority investment in the Cook & Boardman Group, adding to a surge of deals in the building products sector.
Cook & Boardman, headquartered in Winston-Salem, North Carolina, distributes commercial metal and wood doors, door frames, door hardware and related products. The company has 20 locations across eight states, and services the non-residential construction market. Terms of the acquisition were not disclosed.
Ridgemont plans to grow the company organically and through add-on acquisitions. The Charlotte, North Carolina-based private equity firm closed an investment in Abrasive Products & Equipment, which makes products for the oil and gas industry, earlier in September. Ridgemont generally invests between $25 million and $75 million per transaction. The firm closed its first fund with $735 million in commitments in April 2013.
Piper Jaffray & Co. served as Cook & Boardman's financial adviser. K&L Gates and SunTrust Robinson Humphrey Inc. advised Ridgemont. GE Antares, Ally Corporate Finance, SunTrust Bank
The building products sector has hosted several deals lately. Earlier in September, private equity firm Trive Capital invested in Lark Industries, and in August, Beacon Roofing Supply Inc. (Nasdaq: BECN) picked up All Weather Products Ltd.