Clio Holdings LLC, a portfolio company of O2 Investment Partners, has teamed up with Oakland Standard Co to acquire two countertop providers: Rochester, New York-based Solid Surfaces Inc and Michigan and Tennessee-based Marble Inc. No financial terms were disclosed.
BLOOMFIELD HILLS, MI–(Marketwired – March 28, 2017) – O2 Investment Partners (“O2”) announced today that its portfolio company, Clio Holdings, LLC (“Clio”), in partnership with Oakland Standard Co. (“Oakland Standard”), recently completed the acquisitions of Solid Surfaces, Inc. (“Solid Surfaces”) and US Marble, Inc. (“US Marble”). Clio was formed in June 2016 to consolidate the heavily fragmented countertop supply and fabrication industry.
The acquisitions of the Rochester, New York based Solid Surfaces and the Michigan and Tennessee based US Marble, represent the fourth and fifth acquisitions, respectively, since Clio’s formation in mid-2016. Clio now generates over $100 million in annual revenue out of 13 locations with over 750 team members.
Todd Fink, Managing Partner of O2, commented, “We are excited to partner with Solid Surfaces and US Marble. These acquisitions are strong additions to the Clio platform and further Clio’s mission of consolidating the heavily fragmented countertop space. In addition to management team partners, we want to acknowledge Bryan Tolles and the Oakland Standard team, whose strategic vision and execution is critical to the growth and success of this platform.”
About O2 Investment Partners:
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire a majority interest in middle market manufacturing, technology, niche distribution and select services businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
About Oakland Standard:
Oakland Standard is a Michigan based private equity firm investing in lower middle market industrial businesses. Oakland Standard invests in businesses and management teams that want more than just capital and target situations where an operational approach as well as strategic support create value by building strong companies over a long-term horizon.
About Clio Holdings:
Clio was formed to partner leading countertop suppliers and fabricators together providing the capital and operational expertise to upgrade, differentiate and professionalize this highly fragmented industry. Clio serves a full spectrum within the countertop industry, from new homebuilders and commercial contractors to kitchen/bath dealers and home improvement centers.