Crossplane Capital said Sept. 19 that it acquired a controlling stake in the Accent Family of Cos. Financial terms weren’t announced. Accent, of Tomball, Texas, distributes baling wire, wire ties and wire tier machines into the waste and recycling industries.
DALLAS, Sept. 19, 2019 /PRNewswire/ — Crossplane Capital (“Crossplane”), a Dallas-based private equity firm, announced today that it has partnered with the Sims family and current management team to make an equity investment to acquire a controlling interest in the Accent Family of Companies (“Accent” or the “Company”), which includes Accent Wire-Tie, Accent Wire-Tie United Kingdom and Accent Building Materials. Headquartered in Tomball, TX with distribution throughout the United States, Canada and the United Kingdom, Accent is the leading value-added distributor of baling wire, wire ties and wire tier machines into the waste and recycling industries. Additionally, complementing its core wire distribution business, Accent’s building materials division is a regional supplier of steel products for roofing, concrete, drywall and acoustical applications through its distribution locations in Houston, TX, Anaheim, CA and Hayward, CA.
“Our family and the Accent management team are excited to enter into this new partnership with Crossplane Capital,” said Bill Sims, CEO of Accent. “Accent has a number of avenues to continue growing, and we believe Crossplane is the ideal financial and operational partner to work alongside us during our next phase of growth. Crossplane understands our unique culture and the importance of investing in people and infrastructure to be a market leading industrial distribution company.”
“We are excited about our new partnership with the Sims family, the management team and Accent’s employee base as a whole,” said Brian Hegi, Partner of Crossplane Capital. “We believe Accent’s unique scale and strong customer service make Accent uniquely strategic to its thousands of customers and key supplier relationships around the world.”
“Accent fits squarely within our investment mandate of partnering with family-owned businesses that are looking for a financial and operationally-oriented partner to help drive value,” said Ben Eakes, Partner of Crossplane Capital. “We look forward to a successful partnership with Bill Sims and the entire Accent team.”
About the Accent Family of Companies
Founded in 1986, Accent is a full service, value-added industrial distribution company focused on the waste / recycling and building materials industries. Through its Wire-Tie division, Accent’s core offerings include baling wire distribution, bale tie manufacturing, wire-tier equipment manufacturing, and wire-tier parts and repair services to waste management providers, material recovery facilities, packaging companies and commercial customers throughout the United States, Canada and the United Kingdom. Through its Building Materials division, Accent is a regional distributor of roofing, concrete, drywall, and acoustical products to the construction industry under the Striker and NATCO brands throughout the west, southwest and gulf coast United States. For more information, please visit http://www.accentfamilyofcompanies.com/.
About Crossplane Capital
Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.
SOURCE Crossplane Capital