M&A Deal Summary

ADENTRA Acquires Novo Building Products

On June 23, 2021, ADENTRA acquired building materials company Novo Building Products from Blue Wolf Capital Partners for 303M USD

Acquisition Highlights
  • This is ADENTRA’s 1st transaction in the Building Materials sector.
  • This is ADENTRA’s largest (disclosed) transaction.
  • This is ADENTRA’s 10th transaction in the United States.
  • This is ADENTRA’s 2nd transaction in Michigan.

M&A Deal Summary

Date 2021-06-23
Target Novo Building Products
Sector Building Materials
Buyer(s) ADENTRA
Sellers(s) Blue Wolf Capital Partners
Deal Type Add-on Acquisition
Deal Value 303M USD
Advisor(s) Osler
Stoel Rives (Legal)

Target

Novo Building Products

Zeeland, Michigan, United States
Novo Building Products is a manufacturer and distributor of mouldings, stair parts, doors, and specialty building products. Novo Building Products sources products globally and focuses on the high-value moulding and millwork markets in North America. Novo Building Products was founded in 2016 and is based in Zeeland, Michigan.

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Buyer(S) 1

Buyer

ADENTRA

Langley, British Columbia, Canada

Category Company
Founded 2004
Sector Distribution
Employees2,828
Revenue 2.2B USD (2023)
DESCRIPTION

ADENTRA is one of North America’s largest distributors of high-grade hardwood lumber, sheet goods and architectural millwork to the cabinet, moulding, millwork, furniture and specialty wood products industries. The Company currently operates a network in North America of 32 distribution centres, as well as 1 sawmill and kiln drying operation. ADENTRA was incorporated in 2004 and is based in Langley, Canada.


DEAL STATS #
Overall 10 of 10
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Michigan) 2 of 2
Country (United States) 10 of 10
Year (2021) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-09 Diamond Hardwoods

Fresno, California, United States

Diamond Hardwoods is a wholesale distributor of architectural building products to contractors, industrial manufacturers, and retail customers.

Buy $3M

Seller(S) 1

SELLER

Blue Wolf Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Wolf Capital Partners is a private equity investment firm that targets control investments in middle-market North American companies. Blue Wolf looks to commit at least $25 million of equity capital in businesses with minimum revenues of $50 million. Blue Wolf is a generalist firm with broad interest in service and applied engineering companies, capital equipment manufacturers, general manufacturing, financial services, paper products, and broadcast media. Blue Wolf will also consider distressed situation investments. The Firm does not invest in start-ups. Blue Wolf Capital Partners was formed in 2005 and is located in New York, New York.


DEAL STATS #
Overall 15 of 17
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 11 of 11
State (Michigan) 2 of 2
Country (United States) 13 of 15
Year (2021) 3 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Mulch & Soil

Fort Myers, Florida, United States

Mulch & Soil is a manufacturer and distributor of high-quality mulches, premium planting and potting soils, decorative bark, other ground cover products, and complimentary landscape products and supplies in the rapidly growing Florida market. TM&SC operates four manufacturing and distribution facilities, which serve a diverse mix of lawn and garden retailers, commercial landscapers, and mulch installers. Mulch & Soil was founded in 2018 and is based in Fort Myers, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Civco Radiotherapy

Orange City, Iowa, United States

Civco Radiotherapy is focused on developing, manufacturing, and providing high-quality, innovative, patient-centric solutions in radiotherapy. These solutions include advanced patient immobilization and positioning hardware and consumables, fiducial markers, couchtops and overlays, software, patient care products, and advanced 6DOF robotic patient positioning. Civco Radiotherapy was formed in 1982 and is based in Orange City, Iowa.

Buy $120M