Distribution International has completed its buy of Pacific Insulation Company. Financial terms weren’t announced. Los Angeles-based Pacific distributes and fabricates industrial and commercial insulation. Distribution International is backed by Audax Private Equity and The CapStreet Group.
HOUSTON–(BUSINESS WIRE)–Distribution International, Inc., (“DI”) announced it has completed the acquisition of Pacific Insulation Company (“Pacific”). Headquartered in Los Angeles, CA, Pacific is a leading distributor/fabricator of industrial and commercial insulation. Additionally, they offer refractory products, marine products, tools and accessories, mastics and adhesives, removable pads, and MRO products. The addition of Pacific expands DI’s footprint into California, Nevada, Arizona, and New Mexico while also adding another location in Texas. Headquartered in Houston, Texas, DI is a portfolio company of Audax Private Equity (“Audax”) and The CapStreet Group (“CapStreet”).
Celeste Mastin, CEO of DI, commented, “With the recent purchase of Pacific, DI has added twelve locations and now has a presence in four additional states, providing a platform for growth in the western USA. The acquisition of Pacific allows DI to better serve our nation-wide customers by providing transcontinental service in both the USA and Canada. Pacific features a strong group of talented employees and we are very excited to have them on our team.”
Eric Fults, majority owner of Pacific, said, “Insulation distribution has been a part of our family business for the past 66 years. In selecting a partner to further develop the business for the benefit of our employees and customers, we felt confident we were making the right choice in DI. DI shares in Pacific’s long-term vision and our values, and we are pleased that they are interested in growing the business.”
DI is a value added distributor of insulation, related specialty fabricated products, and safety supplies. DI serves industrial, commercial and marine customers from distribution centers in Alabama, Arizona, Arkansas, California, Kentucky, Maryland, Louisiana, Missouri, Mississippi, Michigan, Nevada, New Mexico, New York, North Carolina, New Jersey, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia in the United States, as well as British Columbia, Alberta, Ontario, Quebec, and Nova Scotia in Canada.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston, New York and Menlo Park, Audax has over $6 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.
ABOUT THE CAPSTREET GROUP
The CapStreet Group is a private equity firm that invests in owner-managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet targets companies operating in the industrial distribution, industrial manufacturing and business service sectors and partners with management to accelerate growth and improve profitability. For more information, visit The CapStreet Group website www.capstreet.com.