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ACS knocks up deal with Weaver Lumber
Posted on Tuesday, 07 July 2020 14:40
American Construction Source (ACS) has bought US-based building materials company Weaver Lumber.
No financial details were announced.
Upon completion, the target will continue to operate under its current name.
Established in 1963, Weaver Lumber provides hardware and building materials for customers throughout California.
Its products include a range of wood, windows, glass and mirrors, cabinets and fencing.
The group serves a variety of clients, such as builders, professional remodelers and DIY consumers.
Headquartered in Redding, Weaver Lumber also installs window and shower doors for customers.
Brent Weaver, chief executive of the target, said: “ACS is the ideal partner to enable us to best serve our customers and accelerate growth of the business.”
The transaction will also add to the buyer’s portfolio of service-orientated lumber and building materials (LBM) locations.
Backed by Angeles Equity Partners and Clearlake Capital Group, ACS is an LBM distributor which operates from 70 sites across nine states, including California, Minnesota, Nevada and Washington.
The company supplies construction materials to custom home builders, repair and model contractors and DIY consumers.
Its brands include Meek’s, Evergreen Lumber and Breckenridge Building Center.
ACS is no stranger to the acquisition trail; in February this year, the group bought US-based LBM supplier Building Industry Partners.
In September 2019, it also snapped up Arkansas-headquartered wood trusses manufacturer Contractor’s Truss Systems. No financial details were disclosed for either transaction.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 31 deals targeting building material and supplies dealers announced globally in 2020 to date.
In the most valuable of these, FSN Capital Partners sold a 10.0 per cent stake in Sweden-based Bygghemma Group First for SEK 740.84 million (EUR 70.72 million).
Other companies targeted in this sector so far in 2020 include Shimachu, Cashbuild, BHG Group and The Home Depot.
© Zephus Ltd