Buyout (LBO, MBO, MBI) • Building Materials

Lakewood Capital, Argosy Private Equity and Graham Partners Acquire HB&G

On February 1, 1998, private equity firms Lakewood Capital, Argosy Private Equity and Graham Partners acquired building materials company HB&G

Acquisition Context
  • This is Lakewood Capital’s 1st, Argosy Private Equity’s 1st and Graham Partners’ 1st transaction in the Building Materials sector.
  • This is Lakewood Capital’s 3rd, Argosy Private Equity’s 1st and Graham Partners’ 1st transaction in the United States.
  • This is Lakewood Capital’s 1st, Argosy Private Equity’s 1st and Graham Partners’ 1st transaction in Alabama.
Investment Fate
  • HB&G was sold to a strategic buyer in 2021.

Explore All 538 Buyout (LBO, MBO, MBI) Building Materials Deals - Search the Database Free


M&A Deal Summary

Date February 1, 1998
Target HB&G
Sector Building Materials
Buyer(s) Lakewood Capital
Argosy Private Equity
Graham Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

HB&G

Troy, Alabama, United States
HB&G is a designer and manufacturer of synthetic and wood specialty millwork, consisting primarily of exterior and interior columns, as well as exterior posts, railings, and ceilings for porch and deck applications. HB&G was founded in 1880 and is based in Troy, Michigan.
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Buyers Overview 3

Buyer

Lakewood Capital

Rowayton, Connecticut, United States

Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Lakewood Capital is a private equity firm that invests in profitable, mid-sized companies with EBITDA of $2 to $25 million. Lakewood focuses on opportunities in healthcare and industrial manufacturing services. Lakewood Capital was founded in 2007 and is based in Rowayton, Connecticut.


Deal Context for Buyer #
Overall 3 of 8
Sector: Building Materials 1 of 3
Type: Buyout (LBO, MBO, MBI) 3 of 7
State: Alabama 1 of 1
Country: United States 3 of 8
Year: 1998 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Bomar Industries International

Lake Worth, Florida, United States

Bomar Industries International, Inc. designs and manufactures specialty trimmings primarily for the home furnishings industry. The Company works closely with furniture manufacturers, interior designers and design houses to develop complementary accessory trimmings, including fringe, cording, and tassels to enhance its customer offerings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-10-01 Atrium

Dallas, Texas, United States

Atrium Corp. is a nationally-recognized provider of high quality windows and doors to the new construction and repair and remodel markets. The company operates a nationwide network of manufacturing facilities and sells a comprehensive line of products in all 50 states and Canada.

Buy -
Buyer

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.


Deal Context for Buyer #
Overall 1 of 88
Sector: Building Materials 1 of 7
Type: Buyout (LBO, MBO, MBI) 1 of 52
State: Alabama 1 of 1
Country: United States 1 of 88
Year: 1998 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-01 Hi-Temp Specialty Metals

Yaphank, New York, United States

Hi-Temp Specialty Metals, Inc. (www.hi-tempmetals.com) is North America’s largest recycler of high temperature refractory metals essential to the electronics, chemical, pollution control, aerospace and hard metals industries. It supplies refractory metals, tantalum, molybdenum and tungsten in a variety of forms. Hi-Temp also engages in toll conversion, processing material for customers on a service contract basis.

Buy -
Buyer

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 6.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $5 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.


Deal Context for Buyer #
Overall 1 of 60
Sector: Building Materials 1 of 7
Type: Buyout (LBO, MBO, MBI) 1 of 32
State: Alabama 1 of 1
Country: United States 1 of 52
Year: 1998 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-04-05 Western Industries Plastic Products

Winfield, Kansas, United States

Western Industries Plastic Products is a designer and manufacturer of large blow-molded finished products and components used by OEMs in the industrial, furniture, sports and leisure, transportation, and lawn and garden sectors. Western Industries Plastic Products was founded in 1987 and is based in Watertown, Kansas.

Buy -