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PRINT THIS PAGE Advent acquires majority stake in Bradco22/07/2008. Source: AltAssets. 
Mid-market buy-out firm Advent International has agreed to buy a majority stake in US roofing company Bradco Supply Corp from the Segal family. Financial details were not disclosed. The investment was made from the firm's $10.4bn Global Private Equity VI fund, which closed earlier this year. The Segal family will retain a minority stake in Bradco, which has over 2,600 employees across 150 locations in the US. The company has annual sales in excess of $1.7bn, according to a statement.
'The Segal family has built Bradco into one of the premier distributors in the industry,' said Stephen Hoffmeister, a principal in Advent's Boston office. 'Advent will work with existing management and the Segal family to capitalise on Bradco's leadership position, growing through acquisitions of complementary businesses and regional expansion.'
Follow-on growth investments and acquisitions for Bradco will come from Advent's Global Private Equity VI fund, the firm said.
Recently, Advent acquired healthcare provider Craegmoor Healthcare Group from UK mid-market firm LGV Capital.
Copyright © 2008 AltAssets
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