North American provider of specialty branded building products PrimeSource Brands signed a definitive agreement to acquire Wolf Home Products from affiliates of Tenex Capital Management. York, Pa.-based Wolf Home Products is a designer and supplier of branded cabinetry, vanities, countertops, decking, and railing, among other residential building products. Wolf services the dealer channel with short lead times by leveraging its distribution network and dealer-direct delivery model.
The acquisition by PrimeSource is the company’s third under the sponsorship of private equity company Clearlake Capital Group. The financial terms of the deal were not publicly disclosed and closing is subject to customary conditions.
“We are thrilled to welcome Wolf into the PrimeSource Brands family,” Tom Koos, CEO of PrimeSource, said in a news release. “CEO Craig Danielson and his team have created a terrific service model that differentiates Wolf from anyone in their space, and the national footprint and overall scale PrimeSource brings will enable them to expand rapidly. Their leadership in Wolf-branded products, combined with a focus on the high growth markets in and around residential repair and remodel and outdoor living, fits very well with our strategy.”
Clearlake said its investment was driven by its “thematic-based approach” to investing in the building products industry.
“PrimeSource benefits from significant market tailwinds as new residential construction ramps up to meet strong pent-up demand, and we believe the platform can play a unique role as a consolidator in this space,” José E. Feliciano, co-founder and managing partner of Clearlake, and Colin Leonard, partner at Clearlake, said in a joint statement. “Along with the acquisitions of Dimora Brands and Nationwide Industries, Wolf further strengthens PrimeSource’s branded building products portfolio across interior and exterior residential applications. “
PrimeSource’s product offering spans more than 60,000 SKUs, including construction fasteners, cabinet knobs and pulls, fence and gate hardware, railing systems and infill, and perimeter security solutions. The company operates a footprint of 50 distribution centers spanning 29 states.
Investment firm Clearlake recently sold pro dealer American Construction Source to LBM industry giant US LBM
