New York-based buyout shop Blue Wolf Capital Partners has acquired American Builders Supply, a supplier of doors, windows and trusses to homebuilders in Florida. Financial terms of the deal were not released. The company’s management team invested alongside Blue Wolf. Bob Dello Russo, CEO and owner of Del-Air, Florida’s largest HVAC company, also invested and will serve on the company’s board.
Blue Wolf Capital Partners LLC, the New York-based private equity firm, today announced that Blue Wolf Capital Fund II, L.P. (“Blue Wolf”), through an affiliate, has acquired substantially all of the assets of American Builders Supply (“ABS”), the largest independent supplier of doors, windows and trusses to homebuilders in Florida. Terms of the transaction were not disclosed.
Blue Wolf’s investment creates a debt-free company that has substantial capital for growth. The company’s management team, led by CEO Chad Barton, invested in the transaction alongside Blue Wolf. Bob Dello Russo, CEO and owner of Del-Air, Florida’s largest HVAC company, also invested in the transaction and will serve on the Board of Directors.
Blue Wolf Partner Michael Ranson said, “ABS is a strong platform with leading market share, a reputation for excellence and a veteran management team with very deep relationships. Despite the housing collapse in Florida, the company has grown its market share and footprint throughout the downturn. Our capital and strategic resources will augment ABS and enable it to take advantage of the current industry turmoil.”
CEO Chad Barton added, “We are delighted to be partnering with Blue Wolf as we look to our future. Their turnaround expertise, operating experience and vision, coupled with our relationships and knowledge of the local market, is a great combination. Over the course of 2011, ABS will expand geographically, broaden its product line and target new end markets, such as aftermarket and multi-family homes. We are very excited about this opportunity.”
“Like Chad, I am excited to be partnering with Blue Wolf,” said Bob Dello Russo, “and I am confident we will build the premier building supply company in the state of Florida. We see multiple paths for expansion and expect to take advantage of all of them.”
About American Builders Supply
ABS (www.americanbuilderssupplyco.com) is the largest independent supplier of doors, windows and trusses to homebuilders in Florida, and the preeminent supplier in Central Florida for over 15 years. The company services customers throughout North and Central Florida from its Sanford headquarters (outside of Orlando) and from three additional manufacturing and distribution facilities located in Winter Haven, Melbourne and Jacksonville. Through its Melbourne and Sanford facilities, ABS also offers custom doors and molding products for specialty homebuilders and retail customers.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that seeks to create and increase value in middle-market companies. Blue Wolf often invests when it can address financial or operational distress, or constructively resolve issues arising from corporate governance or relations with government entities or labor unions. For additional information, please visit www.blue-wolf.com.