Latium USA’s Four Seasons Building Products has acquired C-Thru Sunrooms, a provider of all season rooms, patios, enclosures and patio covers. Sphaeris Capital advised the board of Latium Enterprises and Latium USA on the transaction.
New York, NY (November 20, 2019) – Sphaeris Capital today announced the completion of the acquisition of C-Thru Sunrooms by Latium USA’s Four Seasons Building Products. This investment grows the Latium USA business, which continues its position as the largest sunroom, conservatory and patio enclosures business in North America.
C-Thru provides a full range of all season rooms, patios, enclosures and patio covers with unique features that complement Four Season’s existing product portfolio. C-Thru’s California-based operations have been focused on the western U.S. which will be enhanced by Four Season’s national manufacturing and distribution footprint.
Sphaeris Capital advises the board of Latium Enterprises and Latium USA. This investment marks Latium USA’s fourth acquisition and collaboration with Sphaeris Capital in a program to grow Latium’s residential and commercial building products platform.
Latium USA is a leading North American manufacturer and distributor of building and home improvement products related to “enjoyment of the home’s outside space.” Latium USA is owner in the U.S. of Four Seasons Building Products, Four Seasons Sunrooms & Windows, LifeRoom, LK Aluminum, and Superior Mason Products. Latium previously acquired Metals USA’s Building Products division from Metals USA Inc., now a division of Reliance Steel.
Daniel Rosen, Sphaeris Capital’s Managing Partner said, “We continue to execute an active investment plan with Latium USA that, with this 4th acquisition, has created and grown the largest sunroom business in North America. “Sphaeris and Latium are enthusiastic about the proprietary opportunities we’re able to originate and execute to achieve the board’s growth vision.”
Latium USA and Sphaeris have been implementing a sector roll-up in North American building products and home improvement focusing on manufacturing and distribution businesses in the outdoor space for commercial and residential repair and remodeling.
Targeted product segments include, amongst other, conservatories & sunrooms, patios, patio enclosures, pergolas, carports, windows, awnings and screens. Latium USA and Sphaeris Capital are seeking new investments in companies with total enterprise values between $10 million – $200 million.
Sphaeris Capital is proud of its partnership with Latium USA, Latium Enterprises, and their portfolio companies. Latium USA is the North American affiliate of Latium Enterprises, a diversified global group of companies with investments in industrials, building products, home improvement, consumer, retail, media, technology, renewable energy and real estate generating annual sales of approximately $1 billion.
Rosen commented, “We’re pleased to continue our strong partnership with the Kennedy family of the UK, the Latium group of companies, and all of its seasoned people in the U.S. and Europe. Latium and we share a long-term outlook for North America with the flexibility to invest and manage diverse investments throughout different economic cycles.”
Sphaeris Capital Management
Sphaeris Capital is an investment manager and advisor. Sphaeris is a specialist in add-on acquisitions programs to grow equity value for leading private equity-owned and other private and public companies. Sphaeris runs active buy-side programs to identify and acquire multiple proprietary—typically non-auction—targets. The firm works closely with management and boards to design and execute institutional-grade outreach programs to capture inorganic growth. Sphaeris’ programs can be tailored for sector roll-ups, single acquisitions and/or for non-core divestitures. The firm acts as a trusted resource, working with portfolio companies of the world’s leading alternative asset managers. Sphaeris was awarded “2017 Cross Border Deal of the Year ($50M-$100M)” by The M&A Advisor for advising Jacuzzi Brands on two simultaneous acquisitions. Sphaeris Capital is also an investment manager making proprietary private credit and equity investments. Securities offered via M&A Securities Group Inc., an unaffiliated broker dealer.
Latium USA is an investor and operator of leading North American building products businesses, including Four Seasons Building Products, Four Seasons Sunrooms & Windows, Four Seasons Life Room and LK Aluminum. Latium USA’s portfolio companies are known for high quality products that innovate and transform outdoor living spaces. Latium maintains a network of over 3,000 professional dealers, contractors and distributors in remodeling, commercial and residential markets. Latium USA is the North American affiliate of Latium Enterprises, a diversified global group of companies based in Europe, with investments in industrials, building products and home improvement, consumer, retail, media, technology, renewable energy and real estate.