M&A Deal Summary

Clearlake Capital Acquires PrimeSource

On November 13, 2020, private equity firm Clearlake Capital acquired building materials company PrimeSource from Platinum Equity

Acquisition Highlights
  • This is Clearlake Capital’s 2nd transaction in the Building Materials sector.
  • This is Clearlake Capital’s 59th transaction in the United States.
  • This is Clearlake Capital’s 12th transaction in Texas.

M&A Deal Summary
Date 2020-11-13
Target PrimeSource
Sector Building Materials
Buyer(s) Clearlake Capital
Sellers(s) Platinum Equity
Deal Type Secondary Buyout

Target

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.

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Buyer(S) 1

Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 62 of 88
Sector (Building Materials) 2 of 3
Type (Secondary Buyout) 23 of 38
State (Texas) 12 of 13
Country (United States) 59 of 83
Year (2020) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Newfold Digital

Jacksonville, Florida, United States

Newfold Digital is a provider of shared web hosting services to small businesses. Newfield Digital helps customers of all sizes build a digital presence that delivers results. Newfold Digital has extensive product offerings and personalized support with customers to serve their online presence needs. Newfold Digital was founded in 1997 and is based in Jacksonville, Florida.

Buy $3.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Zywave

Milwaukee, Wisconsin, United States

Zywave is a provider of SaaS solutions that drive improved performance in sales, marketing and customer retention for commercial insurance and benefits brokerages. The company’s products deliver more initial prospect meetings, better close rates, shorter selling cycles and higher customer retention in the intensely competitive brokerage market. Zywave serves the vast majority of the leading brokerages in the U.S. including both large and small- to medium-sized brokers in all 50 states. Zywave is based in Milwaukee, Wisconsin.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

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 66 of 78
Sector (Building Materials) 3 of 4
Type (Secondary Buyout) 18 of 21
State (Texas) 3 of 3
Country (United States) 56 of 65
Year (2020) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-13 US LBM

Atlanta, Georgia, United States

US LBM is a distributor of specialty building materials and 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 Atlanta, Georgia.

Buy -
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 -
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