Trilantic North America has acquired a majority stake in St. Paul, Minnesota-based United Subcontracts Inc, a provider of installed insulation and related services to builders, contractors and homeowners. No financial terms were disclosed. RBC Capital Markets provided financial advice to USI on the deal.
New York, NY – January 9, 2017 – United Subcontractors, Inc. (“USI” or the “Company”) has announced the completion of an equity investment and recapitalization in partnership with Trilantic North America. Trilantic North America now holds a majority stake in USI, with the Company’s management and existing shareholders retaining a substantial ownership stake. The transaction will provide USI with the additional capital needed to scale the company and continue to build its technology and platform to drive best-in-class customer service.
Based in St. Paul, Minnesota, USI is a leading national provider of installed insulation and related services to builders, contractors and homeowners, serving customers across 44 locations in 15 states.
USI’s investment in technology, people and processes has distinguished it within the broader building products distribution and services industry,” said Charles Fleischmann, Partner at Trilantic North America. “We believe that the Company is able to deliver a compelling value proposition to its customers, and is well-positioned for continued strong growth.”
“Trilantic North America has a demonstrated track record of supporting its portfolio companies for growth, making the opportunity to partner an easy decision,” said Bill Varner, CEO of USI. “We have invested significantly over the past several years and look forward to continue leveraging our platform and resources offered by Trilantic North America to drive growth both organically and through strategic acquisitions.”
“We are excited to partner with Bill and his team, and to help them continue building the Company through the next phase of its development,” added Jon Mattson, Managing Partner at Trilantic North America. “We see significant opportunity for USI and look forward to working with the Company’s management team to accelerate growth.”
RBC Capital Markets acted as financial advisor to USI in the transaction. Willkie Farr & Gallagher and Gibson, Dunn & Crutcher provided legal advice to USI and Trilantic North America, respectively.
USI was founded in 1998, and is a leading provider of installation, construction and distribution services to the residential and commercial construction markets. Headquartered in St. Paul, Minn., the Company employs more than 1,900 personnel in 44 locations across 15 states. Learn more at www.USIinc.com. USI has become a leading building solutions provider in the United States by combining local market savvy with outstanding employees, superior technology, and the infrastructure of a national network. USI provides the nation’s residential and commercial contractors with a wide range of construction services.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages four private equity fund families with aggregate capital commitments of $5.9 billion. For more information, visit www.trilantic.com.