ACS expands quickly
Following its formation and initial acquisition of Meek’s Lumber last week, Los Angeles-based American Construction Source (ACS) isn’t wasting any time with its expansion plans.
The newly-formed building materials distribution company has acquired Edwards Building Center and Breckenridge Building Center – both based in Colorado.
Located in Edwards, Colo., Edwards Building Center is a one-unit pro dealer and Stihl equipment dealer. Breckenridge Building Center, located in Breckenridge, Colo., is a full-service lumber and home improvement store and has been serving pros and DIYers for more than 45 years. Breckenridge is also a Do it Best dealer.
Financial terms of the transaction were not disclosed. Both businesses will continue to serve customers under their current brand names, according to a statement issued by Angeles Equity Partners and Clearlake Capital Group, the private investment firms behind American Construction Source.
Angeles and Clearlake announced the formation of ACS last week – and its arrival as a new, major player in the LBM industry - while revealing that it had acquired Meek’s Lumber.
“This acquisition is immediately accretive and adds two iconic brands to support the American Construction Source goal of creating a leading national building products distributor with the industry’s best customer experience,” Timothy Meyer and Jordan Katz, co-founders and managing partners of Angeles Equity Partners, said in a statement issued by the company.
“Clearlake looks forward to partnering with the Colorado management team as part of the American Construction Source platform,” said José Feliciano, co-founder and managing partner of Clearlake and James Pade, principal of Clearlake.
Both executives said this move “underscores our commitment to consolidate the building products distribution sector and promote operational best practices.”
Management from Edwards Building Center and Breckenridge Building Center will remain with the business as it joins the ACS portfolio. This includes Mike Burk continuing as regional manager and general manager of Edwards Building Center and Denny Rogstad remaining as general manager of Breckenridge Building Center.
“We are confident Angeles and Clearlake are the best partners to create value and enable growth through ACS to help our business achieve its full potential,” Burk said. “Our customers appreciate our attention to detail and how we deliver on our promises.”
Founded in 1970, Edwards has been focused on custom home builders, building professionals, and DIY customers in the Eagle County, Summit County, Park County, Aspen, Vail, and Denver markets.
Edwards Building Center and Breckenridge Building Center are great LBM businesses,” said James Drexinger, CEO of ACS. “We remain committed to the ‘Getting it Right Every Day’ mentality, and we will set ambitious new goals to continuously leverage sourcing scale, drive operational excellence, and identify new ways to be the most trusted building products supplier in the local markets we serve.”
The newly-formed building materials distribution company has acquired Edwards Building Center and Breckenridge Building Center – both based in Colorado.
Located in Edwards, Colo., Edwards Building Center is a one-unit pro dealer and Stihl equipment dealer. Breckenridge Building Center, located in Breckenridge, Colo., is a full-service lumber and home improvement store and has been serving pros and DIYers for more than 45 years. Breckenridge is also a Do it Best dealer.
Financial terms of the transaction were not disclosed. Both businesses will continue to serve customers under their current brand names, according to a statement issued by Angeles Equity Partners and Clearlake Capital Group, the private investment firms behind American Construction Source.
Angeles and Clearlake announced the formation of ACS last week – and its arrival as a new, major player in the LBM industry - while revealing that it had acquired Meek’s Lumber.
“This acquisition is immediately accretive and adds two iconic brands to support the American Construction Source goal of creating a leading national building products distributor with the industry’s best customer experience,” Timothy Meyer and Jordan Katz, co-founders and managing partners of Angeles Equity Partners, said in a statement issued by the company.
“Clearlake looks forward to partnering with the Colorado management team as part of the American Construction Source platform,” said José Feliciano, co-founder and managing partner of Clearlake and James Pade, principal of Clearlake.
Both executives said this move “underscores our commitment to consolidate the building products distribution sector and promote operational best practices.”
Management from Edwards Building Center and Breckenridge Building Center will remain with the business as it joins the ACS portfolio. This includes Mike Burk continuing as regional manager and general manager of Edwards Building Center and Denny Rogstad remaining as general manager of Breckenridge Building Center.
“We are confident Angeles and Clearlake are the best partners to create value and enable growth through ACS to help our business achieve its full potential,” Burk said. “Our customers appreciate our attention to detail and how we deliver on our promises.”
Founded in 1970, Edwards has been focused on custom home builders, building professionals, and DIY customers in the Eagle County, Summit County, Park County, Aspen, Vail, and Denver markets.
Edwards Building Center and Breckenridge Building Center are great LBM businesses,” said James Drexinger, CEO of ACS. “We remain committed to the ‘Getting it Right Every Day’ mentality, and we will set ambitious new goals to continuously leverage sourcing scale, drive operational excellence, and identify new ways to be the most trusted building products supplier in the local markets we serve.”