M&A Deal Summary

Dunes Point Capital Acquires Foundation Building Materials - Mechanical Insulation Segment

On September 27, 2018, family office Dunes Point Capital acquired building materials company Foundation Building Materials - Mechanical Insulation Segment from Foundation Building Materials for 123M USD

Acquisition Highlights
  • This is Dunes Point Capital’s 4th transaction in the Building Materials sector.
  • This is Dunes Point Capital’s largest (disclosed) transaction.
  • This is Dunes Point Capital’s 7th transaction in the United States.
  • This is Dunes Point Capital’s 1st transaction in California.

M&A Deal Summary
Date 2018-09-27
Target Foundation Building Materials - Mechanical Insulation Segment
Sector Building Materials
Buyer(s) Dunes Point Capital
Sellers(s) Foundation Building Materials
Deal Type Divestiture
Deal Value 123M USD

Target

Foundation Building Materials - Mechanical Insulation Segment

Tusin, California, United States
Foundation Building Material's Mechanical Insulation Segment distributes and fabricates commercial and industrial insulation products through 67 branch and fabrication locations in the United States and Canada that provide solutions for pipes and mechanical systems to insulation contractors, HVAC contractors, and general contractors and operators of large industrial facilities. In addition, the MI segment provides insulation fabrication services that customize products to fit specific systems for commercial and industrial customers.

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Buyer(S) 1

Buyer

Dunes Point Capital

Category Family Office
Founded 2013
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Dunes Point Capital is a family office and private investment firm focused on control investments in the industrials sector. Dunes Point Capital was formed in 2013 and is based in Rye, New York.

DEAL STATS #
Overall 7 of 22
Sector (Building Materials) 4 of 4
Type (Divestiture) 2 of 4
State (California) 1 of 2
Country (United States) 7 of 22
Year (2018) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-25 Sonneman

Larchmont, New York, United States

Sonneman is a designer and manufacturer of high-end architectural lighting for commercial and residential applications. Sonneman was founded in 2003 and is based in Larchmont, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Specialty Products & Insulation

Charlotte, North Carolina, United States

Specialty Products & Insulation is a value-added distributor and fabricator of insulation and complementary products for the commercial, industrial and residential markets. SPI's products help conserve energy, preserve worker safety, and provide noise abatement. The Company currently operates 59 distribution branches and 16 co-located fabrication facilities and sells to over 3,500 contractors in the U.S. and Canada. Specialty Products & Insulation was founded in 1982 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 1

SELLER

Foundation Building Materials

Santa Ana, California, United States
Category Company
Founded 2011
Sector Distribution
Revenue 2.2B USD (2019)
DESCRIPTION

Foundation Building Materials is a specialty building products distributor of gypsum wallboard, suspended ceiling systems, metal framing, insulation, and complementary products throughout North America. Foundation Building Materials was founded in 2011 and is based in Santa Ana, California.

DEAL STATS #
Overall 2 of 3
Sector (Building Materials) 1 of 1
Type (Divestiture) 2 of 3
State (California) 1 of 1
Country (United States) 2 of 3
Year (2018) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Ciesco

Harrisburg, Pennsylvania, United States

Ciesco is a distributor of drywall, steel framing, ceiling products, insulation and complementary products. Ciesco operates six branches servicing Central and Eastern Pennsylvania, Maryland, Delaware, Southern New Jersey, Washington, D.C. and Northern Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-01 Agan Drywall Supply

Sioux Falls, South Dakota, United States

Agan Drywall Supply, Inc. is an independent distributor of drywall, steel framing, Sto coatings and EIFS, stucco, stone veneers, insulation and complementary products. Agan Drywall Supply, Inc. was founded in 1975 and is based in Sioux Falls, South Dakota.

Buy -
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