Latium USA‘s Four Seasons Building Products has acquired Superior Mason Products, a patio and outdoor manufacturer. No financial terms were disclosed. Latium USA is advised by Sphaeris Capital.
New York, NY (October 25, 2018) – Sphaeris Capital today announced the completion of the acquisition of Superior Mason Products by Latium USA’s Four Seasons Building Products. This investment grows the Latium USA business, among its other business lines, into the largest sunroom, conservatory and patio enclosures business in North America.
Superior Mason is a combination of Mason Corporation and Superior Metal Products. The combined company continues the well-recognized 70-year old Mason brand while creating one of the industry’s largest manufacturers and wholesale distributors of aluminum residential and light commercial building products in the U.S. The company has manufacturing facilities in Alabama, North Carolina, Missouri and Texas.
Combining Latium’s Four Seasons business and Superior Mason provides a stronger and larger national manufacturing and distribution footprint with nearly 30 locations and many opportunities for enhancing products, company services and plant efficiencies. Sphaeris Capital advises the board of Latium Enterprises and Latium USA.
This investment marks Latium USA’s third 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, and LK Aluminum. Latium previously acquired Metals USA’s Building Products division from Metals USA Inc., now a division of Reliance Steel.
“Latium and Sphaeris continue to execute a proactive acquisitions plan that has more than doubled the size of Latium USA’s platform business with strong equity accretion” said Daniel Rosen, founding Partner at Sphaeris Capital. “Sphaeris and Latium are enthusiastic about the proprietary opportunities we’re able to identify and execute to meet our growth plans.” Latium USA and Sphaeris are 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 construction and 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 excited 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.