Carter-Waters buys CMA Supply

Carter-Waters LLC has acquired CMA Supply Co. Inc. Financial terms weren’t announced. Indianapolis-based CMA Supply distributes concrete and masonry products and accessories to professional contractors in the residential, commercial, and industrial end-markets. Carter-Waters is a portfolio company of Merit Capital Partners and Aiglon Capital Management LLCMatrix Capital Markets Group advised CMA.

PRESS RELEASE

RICHMOND, VA – December 9, 2015 –  Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of CMA Supply Co., Inc. (“CMA Supply” or the “Company”) to Carter-Waters, LLC, a Kansas City, Missouri based portfolio company of Merit Capital Partners and Aiglon Capital Management, LLC. The acquisition forms a seventeen location platform across Indiana, Ohio, Kentucky, Missouri, Kansas, and Illinois. Matrix served as exclusive advisor to CMA Supply and the transaction was led by Andrew Chidester and Braden Hill.

 

CMA Supply is a regional distributor of concrete and masonry products and accessories to professional contractors in the residential, commercial, and industrial end-markets.  The Company was founded by William Updike in June of 1978 in Indianapolis, Indiana and has grown to six distribution facilities and two rebar and fabrication facilities across Indiana, Kentucky, and Ohio. The Company has a premier reputation for service and product selection within the region.

 

Carter-Waters, LLC provides con-struction materials and rental equip-ment throughout the Midwest. The Company was founded in 1922 and was acquired by Merit Capital Partners and Aiglon Capital Management in 2014.

Bill Updike, President of CMA Supply commented, “This was a complex assignment due to the number of entities involved, the decentralized nature of our operations and the diversity of goals for the shareholder base. The Matrix team overcame every obstacle and guided us to a successful transaction for all concerned.  I would recommend Matrix to any ownership group considering a transition.”

Faegre Baker Daniels LLP acted as legal advisor to CMA Supply on the transaction. Carter-Waters was represented by Reinhart Boerner Van Deuren s.c.

About Matrix’s Building Products Group
Matrix’s Building Products Group has worked closely with many manufacturers, distributors, service providers, and retailers of building materials and related products.  Over the years our professionals have gained a thorough understanding of the architectural specification and contractor bidding process, the impact of fluctuating commodity prices and the importance of inventory management.  Team members have expertise within many sub-sectors including, architectural products, automation, cabinetry/hardware, concrete & masonry, decking, erosion control/geotextiles, fireplace construction, fire protection, flooring, furnishings/lighting, green build, HVAC, home automation, kitchen/bath, metal fabrication & erection, millwork, pipes valves & fittings, roofing, stone/hardscapes, waterworks and windows/doors.

 

About Matrix Capital Markets Group, Inc.

Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies, including company sales, recapitalizations, asset divestitures, corporate recovery, management buyouts, capital raises of debt & equity, corporate valuations and fairness opinions.  Matrix has served clients in a wide range of industries, including building products, business services, consumer products, downstream energy & retail, healthcare, industrial products, lumber and media & communications. For additional information or to contact our team members, please visit www.matrixcmg.com.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC