Home PC News American Construction Source Acquires Weaver Lumber

American Construction Source Acquires Weaver Lumber

The seventh transaction by ACS Expands LBM Distribution, Component and Millwork Manufacturing Capacity, and Specialty Installation Services in Northern California

SPRINGFIELD, Mo.–(BUSINESS WIRE)–July 7, 2020–

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American Construction Source (“ACS”), a number one nationwide constructing supplies distribution platform for customized residence builders and restore and rework contractors, backed by Angeles Equity Partners, LLC (“Angeles”) and Clearlake Capital Group, L.P. (along with its associates “Clearlake”), immediately introduced the acquisition of Weaver Lumber (“Weaver”). Weaver will proceed to function below its current native model identify of Weaver Lumber.

“ACS is pleased to add Weaver Lumber to our growing portfolio of service-oriented lumber and building materials locations,” mentioned James Drexinger, CEO of ACS. “The Weaver family has built a highly successful business, and we are excited to partner with the team and further build on their more than 50-year legacy.”

“We are thrilled to join the ACS platform,” mentioned Brent Weaver, CEO of Weaver Lumber. “ACS brings a deep level of operating expertise and a successful track record of integration and growth. Angeles and Clearlake have significant investment experience creating value and helping businesses achieve their full potential. ACS is the ideal partner to enable us to best serve our customers and accelerate growth of the business.”

Simpson Thacher & Bartlett LLP offered authorized counsel to ACS. Financial phrases of the transaction weren’t disclosed.

About Weaver Lumber

Serving prospects since 1963, Weaver’s abilities and capabilities give attention to service as the answer for loyal relationships with builders, skilled remodelers, and complicated DIY customers. Weaver Lumber gives lumber, {hardware}, cupboards, redwood, cedar fencing, decking, home windows, doorways, insulation, siding, and extra with a give attention to delivering nice customer support experiences. Learn extra on-line at www.weaver-lumber.com.

About American Construction Source

American Construction Source is an LBM distributor with 70+ locations in 9 states serving the wants of customized residence builders, restore & rework contractors, and DIY customers. ACS supplies lumber and constructing supplies companies the sources, leverage, and focus to make their concepts occur. Recognizing the worth and heritage of deep, native buyer relationships as a robust basis for development, ACS greatest practices are designed to leverage shared strengths, drive operational excellence, and encourage efficiency to create a number one constructing merchandise distributor with a nationwide footprint and the trade’s greatest buyer expertise. ACS is backed by Angeles Equity Partners and Clearlake Capital Group. Learn extra on-line at www.acs-lbm.com.

About Angeles Equity Partners, LLC

Angeles Equity Partners, LLC is a non-public fairness agency that invests in corporations throughout a variety of sectors and particularly targets companies which it believes can instantly profit from the agency’s strategic, operational, and M&A capabilities. The Angeles talent set drives the agency’s funding philosophy and, in its view, might help companies attain their full potential. Learn extra on-line at www.angelesequity.com.

About Clearlake

Clearlake Capital Group, L.P. is a number one personal funding agency based in 2006. With a sector-focused strategy, the agency seeks to accomplice with world-class administration groups by offering affected person, long-term capital to dynamic companies that may profit from Clearlake’s operational enchancment strategy, O.P.S.® The agency’s core goal sectors are industrials, know-how, and client. Clearlake at the moment has roughly $24 billion of property below administration and its senior funding principals have led or co-led over 200 investments. More info is obtainable at www.clearlake.com.

Trenton Waterhouse at +1 623 523 1672 or e mail [email protected]

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