Foundation Investment buys Discount Drainage Supplies

Foundation Investment Partners has acquired Discount Drainage Supplies. Financial terms weren’t announced. Discount Drainage, with offices in Akron, Columbus and Cincinnati, provides drainage and construction products. Generational Capital Markets Inc provided financial advice.

PRESS RELEASE

DALLAS, April 25, 2018 /PRNewswire/ — Generational Capital Markets, Inc., Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately-held businesses, is pleased to announce the assets of its client, Discount Drainage Supplies, have been acquired by Foundation Investment Partners. The acquisition closed February 28, 2018. Terms of the transaction were not disclosed.
Discount Drainage Supplies provides drainage and construction products through its three Ohio locations in Akron, Columbus and Cincinnati. It is the state’s independent leader in service, savings and inventory of drainage pipe and related products, including culvert pipes, PVC piping, septic supplies and more.
“Customers will continue to be our primary focus, and we expect that this ownership change will have no effect on Discount Drainage’s core values of service, savings and availability,” said owners Jim Gory and Pete Gory.
Foundation Investment Partners, based outside of Cleveland, Ohio, is a private equity firm focused on acquiring niche manufacturers, high value added distributors, outsourced business service providers, and targeted software developers. The company focuses on investing in smaller businesses where it can greatly increase the value for all parties involved – employees, management teams and investors. FIP’s operating model is built to actively collaborate with management teams in pursuit of sustainable growth, by providing tactical support, strategic guidance and the financial resources necessary to be successful.
“Discount Drainage has been highly successful and will fit into our model quite well,” said David Wood, FIP managing partner. “We will continue the world-class standards of Discount Drainage, providing additional tactical support, strategic guidance and financial resources.”
Generational Capital Markets Managing Director Tom Staszak successfully closed the deal with assistance from Sr. Vice President Chris Gain. Generational Equity Executive Managing Director Edward Weber established the initial relationship with Discount Drainage.
“Finding a group that would maintain the well established high operational standards of the Company and its employees was of the highest importance to the owners of Discount Drainage Supplies,” said Staszak. “David and his team at Foundation Investment Partners, being Ohio-based, were a perfect fit.”
“Discount Drainage Supplies has a long history of providing exceptional service to its loyal base of customers,” said Gain. “By joining with FIP, Discount Drainage is well positioned for future growth and success.”
About Generational Capital, LLC
Generational Capital, LLC is a Dallas, Texas-based merger & acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at https://www.gencm.com. Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016 & 2017.
GCM’s most recent awards include The M&A Advisor’s 2017 Consumer Staples Deal Of The Year, 2017 Private Equity Deal of the Year Award, 2016 Corporate and Strategic Acquisition of the Year Award, as well as the 2016 Materials Deal of the Year for its work on the Stern Rubber Company transaction. It has also been recognized for the 2016 M&A Deal of the Year.