Angeles Equity, Clearlake seal ACS trade sale after three-year buy-and-build

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Angeles Equity Partners and Clearlake Capital have agreed to exit lumber and building materials platform American Construction Source to trade buyer US LBM.

The private equity pair created ACS three years ago, initially acquiring more than 100-year-old Meek’s Lumber Company, with the aim of creating a leading national building products distributor.

A statement from Angeles co-founder Tim Meyer and principal Sam Heischuber said, “We have significant experience in this sector, and committed substantial operational and M&A resources to realize our investment thesis in ACS.

“The operational results we were able to achieve are, in our view, a testament to our value creation model.”

Another statement from Clearlake co-founder José Feliciano and partner James Pade said, “Several years ago, Angeles and Clearlake identified the LBM space as a highly fragmented market ripe for disciplined consolidation with a focus on higher value niches.

“We believed we could build a differentiated platform that would benefit from a commercial strategy geared towards custom home builders, as well as an emphasis on key growth markets, and a focus on the residential renovation market.”

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