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HSC-backed Suburban acquires Applewood Drywall

Suburban, a portfolio company of High Street Capital, has acquired Wisconsin-based Applewood Drywall, a drywall, steel studs, and texturing construction services business.

Suburban, a portfolio company of High Street Capital, has acquired Wisconsin-based Applewood Drywall, a drywall, steel studs, and texturing construction services business. No financial terms were disclosed.

PRESS RELEASE

High Street Capital (or “HSC”), is pleased to announce that its portfolio company Suburban has completed the acquisition of Applewood Drywall (“Applewood”), a 40-year-old leading drywall, steel studs, and texturing construction services business operating in Southeast Wisconsin.

“The addition of Applewood’s services and resources deepens Suburban’s capabilities for our customers and positions us for growth and continued excellence in the near and long-term in our Upper Midwest markets,” said Dave Satermo, President of Suburban. Blake Bartolomei, Vice President of High Street Capital, added, “The strategic and harmonizing fit between the two organizations is abundantly evident and HSC is thrilled to support the Suburban management team as we continue to grow the premier construction services firm in the Midwest.”

Jim Hohnstein, President of Applewood, remarked, “We immediately recognized that Suburban and High Street Capital were the right home to continue the legacy of our long-time family business and look forward to a bright future with the combined organizations.”

About Suburban: Suburban is the premier provider of a complete line of insulation, metal framing, drywall, and painting services for a diversified mix of commercial, multi-family and residential construction customers in the state of Wisconsin.