Construction Supply Group, a portfolio company of The Sterling Group, has acquired Holdfast and Concrete Accessories & Rentals. No financial terms were disclosed.
HOUSTON, Sept. 3, 2019 /PRNewswire/ — The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group (“CSG”), has completed the acquisitions of Holdfast and Concrete Accessories & Rentals. The businesses are single branch distributors in Medway, Ohio and Bozeman, Montana, respectively.
Construction Supply Group is a leader in the distribution of specialty construction materials, accessories and tools, primarily for professional concrete and masonry contractors in the United States and Canada. The company holds the clear number two position in the industry and is four times larger than its next closest competitor. The company has over 125 branches with approximately 1,550 employees and offers over 60,000 SKUs to nearly 50,000 customers.
The addition of Holdfast provides enhanced scale in the Dayton, Ohio MSA as well as an expertise in insulated concrete forms. The Concrete Accessories & Rentals acquisition provides a new presence in the fast growing Northern Rocky Mountain region. “Construction Supply will continue to partner with market leading construction supply specialists, expanding our footprint in attractive geographies and enhancing the capabilities that we can offer customers across North America,” said Mitch Williams, CEO of Construction Supply Group.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.0 billion of assets under management. For further information, please visit www.sterling-group.com.