Sources: The Sterling Group, Houston; CP staff
Middle market private equity specialist Sterling Group has acquired Iowa-based Stetson Building Products, Inc., a management-owned construction supply distributor with nine branches and a distribution center in the Midwest. Stetson is the third business assimilated into concrete and masonry contractor-geared Construction Supply Holdings, formed in November 2016 after Sterling closed two charter acquisitions, Brock White Co. LLC, St. Paul, Minn., and Border Construction Specialties LLC, Phoenix.
Construction Supply Holdings is positioned as a leading distributor of construction materials, accessories and tools, with 48 branches, 750 employees, and 70,000-plus stockkeeping units for nearly 25,000 customers. Brock White and Border have strong branch footprints in the Upper Midwest, Southwest and Western Canada. Stetson expands Construction Supply Holdings’ Midwest presence and adds technical expertise in the reinforcing steel fabrication and concrete form rental categories.
"Sterling has a vision to build a best-in-class distribution business, and [our] entire team is excited about being a part of that success," says Stetson President Marte Cook. "The opportunity to join forces with Brock White and Border made Sterling the ideal partner for the next phase of our company's growth."
"We look forward to drawing on the unique strengths of the Brock White, Border and Stetson organizations to continue to build the platform," notes Sterling Group Partner Brian Henry. Sterling has a history of partnering with management to build businesses and transform segments of the building products industry, he adds, including successful investments in Roofing Supply Group and American Bath Group.