M&A Deal Summary

Bain Capital Private Equity and Platinum Equity Acquire US LBM

On November 13, 2020, private equity firms Bain Capital Private Equity and Platinum Equity acquired distribution company US LBM from Kelso

Acquisition Highlights
  • This is Bain Capital Private Equity’s 10th and Platinum Equity’s 8th transaction in the Distribution sector.
  • This is Bain Capital Private Equity’s 102nd and Platinum Equity’s 88th transaction in the United States.
  • This is Bain Capital Private Equity’s 4th and Platinum Equity’s 6th transaction in Illinois.

M&A Deal Summary

Date 2020-11-13
Target US LBM
Sector Distribution
Buyer(s) Bain Capital Private Equity
Platinum Equity
Sellers(s) Kelso
Deal Type Secondary Buyout
Advisor(s) Barclays Investment Bank
PwC Corporate Finance LLC (Financial)
Debevoise & Plimpton
Ernst & Young - Law (Legal)

Target

US LBM

Buffalo Grove, Illinois, United States
website
US LBM is a distributor of specialty building materials in the United States. Offering a comprehensive portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components, and cabinetry, US LBM combines the scale and operational advantages of a national platform with a local go-to-market strategy through its national network of locations across the country. US LBM was founded in 2009 and is based in Buffalo Grove, Illinois.

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Buyer(S) 2

Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 192 of 229
Sector (Distribution) 10 of 11
Type (Secondary Buyout) 47 of 63
State (Illinois) 4 of 5
Country (United States) 102 of 122
Year (2020) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-30 Chindata Group Holdings

Beijing, China

Chindata Group Holdings is an entity that provides carrier-neutral hyper-scale data center solutions in China, India, and Southeast Asia markets. It offers colocation and managed, energy procurement and transmission, infrastructure, and IT and network services. Chindata Group Holdings was founded in 2015 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-14 Guitar Center

Westlake Village, California, United States

Guitar Center is a retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. The Company was formed in 1959 and is headquartered in Westlake Village, California.

Sell -
Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 111 of 142
Sector (Distribution) 8 of 10
Type (Secondary Buyout) 23 of 38
State (Illinois) 6 of 6
Country (United States) 88 of 112
Year (2020) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-13 PrimeSource

Irving, Texas, United States

PrimeSource is a provider of construction fastening solutions and specialty branded hardware. The Company’s product offering spans more than 52,000 SKUs, including construction fasteners, cabinet knobs & pulls, functional hardware, insulation, roofing products, drawers, and organizers, among others. PrimeSource was formed in 1990 and is based in Irving, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Arrow

Cleveland, Ohio, United States

Arrow is a manufacturer and distributor of charitable gaming products, including pull tabs, electronic pull tabs, bingo products, and electronic bingo devices for charitable gaming. Arrow was founded in 1967 and is based in Cleveland, Ohio.

Buy -

Seller(S) 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 43 of 53
Sector (Distribution) 3 of 4
Type (Secondary Buyout) 10 of 13
State (Illinois) 3 of 3
Country (United States) 37 of 46
Year (2020) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Somers Re

Pembroke, Bermuda

Somers Re is a global property and casualty insurance and reinsurance company. Somers Re was founded in 2013 and is headquartered in Pembroke, Bermuda.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 Refresh Mental Health

Jacksonville Beach, Florida, United States

Refresh Mental Health through its centers provides comprehensive mental health services, while some specialize in eating disorders, substance abuse, Transcranial Magnetic Stimulation (TMS), and neurofeedback services. Refresh invests in clinical professionals. The company not only provides financial backing but also support practices with business and marketing infrastructure. Refresh Mental Health was formed in 2017 and is based in Jacksonville Beach, Florida.

Buy -