White Cap buys Ram Tool
White Cap Supply Holdings, LLC reported that it has has closed on a definitive agreement to acquire Ram Tool Construction Supply Co., LLC (Ram Tool).
This combined business will be led by White Cap CEO John Stegeman and President Alan Sollenberger. Page Naftel, president of Ram Tool, also joins White Cap as chief sales officer.
The financial terms of the acquisition were not disclosed.
"White Cap and Ram Tool drive towards the same mission of providing knowledgeable, customer-centric service to professional contractors for all specialty construction and concrete accessory needs," said John Stegeman, Chief Executive Officer of White Cap. "White Cap and Ram Tool have an aligned culture centered on service and relationship-building, which makes us excited for everything to come with our combination."
In August 2020, HD Supply Holdings sold its White Cap business segment to an affiliate of Clayton, Dubilier & Rice for a purchase price of $2.9 billion in cash. Just months later, The Home Depot acquired HD Supply for $8 billion.
Based in Atlanta, Ga., White Cap is a “one-stop shop’ providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing and safety products to professional contractors. This includes both residential and non-residential construction customers.
The company operates more than 400 branches with more than 7,000 employees in the United States and Canada.
According to its website, Ram Tool operates more than 45 locations in 17 states along with Washington, D.C.
Founded in 1967 and based in Birmingham, Ala., Ram Tool supplies fasteners and building materials to general contractors, concrete formers, HVAC, plumbers, electricians, and additional professional customers.
"This combination will increase our products, services, and locations to enhance our customer convenience and experience while bringing together two incredible teams of knowledgeable professionals focused on delivering exceptional customer service," said Alan Sollenberger, President of White Cap.
White Cap said there will be no immediate changes to the services and offerings from its business or Ram Tool during the integration of the two businesses.
Debevoise & Plimpton LLP served as legal counsel to White Cap for the transaction and Nelson Mullins Riley & Scarborough LLP served as legal counsel to Ram Tool for the transaction.
