PrimeSource Brands acquires Cobra Anchors
PrimeSource Brands, a provider of specialty branded residential building products backed by Clearlake Capital Group, has acquired Montreal-based Cobra Anchors. The transaction is PrimeSource Brands' fifth acquisition since partnering with Clearlake in December 2020. Financial terms were not disclosed.
Cobra offers a portfolio of over 1,000 SKUs focused on hollow-wall, universal and masonry anchors. The combination with Cobra aims to enhance the PrimeSource Brands portfolio of branded products and expand the company's reach into the home center, lumberyard and specialty retail channels.
"The Cobra team has built a terrific catalogue of proprietary products that fits well with our existing platform. Along with PrimeSource Building Products, Dimora Brands, Nationwide, Wolf, and Axxis, Cobra continues our efforts to build the branded specialty building products platform with the largest sales and service capabilities in the industry. We believe our depth of catalogue combined with our customer reach gives us an advantage, and we are confident that our increased national scale will enable us to grow this business at an accelerated pace," said Tom Koos, CEO of PrimeSource.
Operating a national footprint with 56 distribution centers, PrimeSource Brands offers specialty building products ranging from construction fasteners and building materials to specialty home hardware. PrimeSource Brands owns a portfolio of branded products including Grip-Rite, Pro-Twist, Top Knobs, Hardware Resources, Atlas Homewares, North Pointe Cabinets, and Wolf Home Products among others across several categories including construction fasteners, cabinets and cabinet hardware, lighting and plumbing, and outdoor building materials.
Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Cobra and its shareholders.
