Lincoln International's Building Products Group Represents Home Acres Building Supply Company in the sale of a major equity interest to Code Hennessy & Simmons LLC
Chicago, Ill., June 19, 2006 Home Acres Building Supply Company (Home Acres or the Company), a leading distributor of drywall and related interior building products, has partnered with Code Hennessy & Simmons LLC, a middle market private equity firm with commitments totaling over $2.5 billion. As the Company's exclusive financial advisor, Lincoln International worked closely with Home Acres shareholders and senior management team in every aspect of the transaction, managing the preparatory and marketing phases, assisting in the selection of a final investor, and helping to facilitate the deal. As part of the transaction, Home Acres shareholders and management team retained a significant ownership stake in the new company. Terms of the transaction were not disclosed.
Home Acres is one of the largest distributors of drywall and related interior building materials to the residential and non-residential sectors in the upper-Midwest region. The Company distributes an extensive array of drywall, commercial ceiling systems, structural and non-structural light gauge steel framing components, insulation materials, professional tools and related accessories. Headquartered in Grand Rapids, Mich., Home Acres operates out of a 16 branch network across Michigan, Indiana and Wisconsin, serving more than 3,400 customers.
Completing the sale of Home Acres to Code Hennessy & Simmons will allow us to realize our vision to use our Company as a platform to grow our business nationwide, said Grant Ellis, CEO of Home Acres. Lincoln International provided us with the guidance and advice we needed to find the right financial partner that will help us meet our objectives. We are confident that our partnership with Code Hennessy & Simmons will allow us to create a national leader in the drywall distribution industry.
The deal represents Lincoln International's ninth successful transaction in the building products industry in the past twelve months, demonstrating the firm's leadership and expertise in this sector.
About Home Acres Building Supply Company
Home Acres is one of the largest, privately-held distributors of gypsum wallboard and related interior wall and ceiling building products in the upper Midwest region, serving Michigan, Wisconsin and Indiana. The Company offers over 11,000 branded products used by general contractors and specialty subcontractors in non-residential and residential building projects. Operating out of 16 branches across 3 states, the Company's broad inventory of products, extensive fleet of vehicles and a responsive dispatch system ensures that customers receive rapid, reliable and on-time delivery of products to the most challenging job sites across the upper-Midwest.
About Code Hennessy & Simmons, LLC
Code Hennessy & Simmons LLC is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. Code Hennessy & Simmons LLC has formed five private equity funds and currently manages over $2.5 billion of capital.
About Lincoln International
Lincoln International specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, New York and Paris, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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