Argonaut and select investors have sold VoidForm to White Cap, a portfolio company of CD&R

VoidForm

VoidForm Products is the leading manufacturer of products designed to protect concrete structures from damage caused by expansive, corrosive and seismic soil conditions. Headquartered in Fort Worth, Texas, with six locations across Texas, Colorado, Mississippi and Central Canada, VoidForm is recognized for a broad range of customizable void products and decades of expertise in soil-expansion mitigation solutions. For additional information, please visit www.voidform.com.

The Deal

VoidForm partnered with Argonaut Private Equity and select investors in 2021. Under their ownership, VoidForm expanded its leading market position, invested in a new facility and strengthened the senior management team to deliver exceptional revenue and earnings growth. Following these achievements, the investor group engaged Lincoln to help find a new partner to support the company’s next phase of growth.

Eric Weeldreyer, Principal at Argonaut, commented, “We appreciate Lincoln’s guidance throughout this process to identify the best partner for VoidForm. Lincoln’s deep building products expertise, strategic insight and strong execution capabilities were instrumental in achieving a successful outcome.”

The acquisition of VoidForm will further expand White Cap’s portfolio of products and value-added services for customers. As part of the White Cap family, VoidForm’s leadership team is well-positioned to continue their success.

David DiLuccia, President of VoidForm, commented, “We are grateful for the dedication and expertise that Lincoln provided throughout the sale process. Joining the White Cap team presents an exciting opportunity for scale and growth. For decades, our teams have worked together to help contractors protect critical structures. By becoming part of the White Cap family, we gain the resources and scale to serve customers even more effectively while continuing to deliver the best-in-class solutions that have defined the VoidForm brand.”

Our Perspective

Adam Hunia, Managing Director in Lincoln’s Industrials Group, commented, “It was a privilege to partner with the VoidForm team throughout this process. The combination of VoidForm and White Cap will deliver exceptional results for customers through all stages of the construction lifecycle.”

Argonaut Private Equity

Founded in 2004, Argonaut is a leading middle market private equity firm with over $2 billion of capital deployed since inception. Argonaut’s investment philosophy centers on partnering with founder- and family-owned businesses, providing operational resources and long-term capital to support organic growth and strategic expansion. The firm focuses on diversified industrial companies with strong market positions and opportunities for value creation through operational improvement and disciplined mergers and acquisitions. For additional information, please visit www.argonautpe.com.

White Cap

Founded in 1974, White Cap serves as a one-stop shop, providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing products and safety products to professional contractors by meeting their distinct and customized supply needs in nonresidential, infrastructure and residential end markets. White Cap operates over 500 branches across North America with more than 11,000 employees supporting approximately 200,000 customers. For additional information, please visit www.whitecap.com.

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