M&A Deal Summary

Littlejohn Acquires Cook & Boardman

On October 22, 2018, private equity firm Littlejohn acquired building materials company Cook & Boardman from Ridgemont Equity Partners, Triangle Capital and Blue Point Capital Partners

Acquisition Highlights
  • This is Littlejohn’s 3rd transaction in the Building Materials sector.
  • This is Littlejohn’s 46th transaction in the United States.
  • This is Littlejohn’s 4th transaction in North Carolina.
Investment Fate
  • Cook & Boardman was sold to a consortium of financial buyers in 2023.

M&A Deal Summary

Date 2018-10-22
Target Cook & Boardman
Sector Building Materials
Buyer(s) Littlejohn
Sellers(s) Ridgemont Equity Partners
Triangle Capital
Blue Point Capital Partners
Deal Type Secondary Buyout

Target

Cook & Boardman

Winston-Salem, North Carolina, United States
Cook & Boardman offers a broad range of products including metal and wood doors, locks, doorframes, and other related building components for non-residential applications. The Company operates a network of thirty-five locations across eleven states and services its customers nationwide. Cook & Boardman was founded in 1955 and is based in Winston-Salem, North Carolina.

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Buyer(S) 1

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 50 of 64
Sector (Building Materials) 3 of 4
Type (Secondary Buyout) 21 of 29
State (North Carolina) 4 of 4
Country (United States) 46 of 60
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-08 World and Main

Cranbury, New Jersey, United States

World and Main is a distributor of a broad selection of hardware and housewares-related products to a variety of retailers and wholesalers in North America. World and Main is a critical link in the supply chain for both large and small retailers and wholesalers which don’t have the infrastructure, scale or expertise to manage a large variety of SKUs on a just in time basis. World and Main is based in Cranbury, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Cosmetic Essence

South Holmdel, New Jersey, United States

Cosmetic Essence, Inc. is a provider of outsourced formulating, manufacturing, filling, packaging, and distribution services to the personal care products industry. Cosmetic Essence manufactures cosmetics and health and beauty care products, such as fragrances, cremes, lotions and color cosmetics, for a diversified base of branded marketers and retailers. Cosmetic Essence, Inc. was founded in 1982 and is based in South Holmdel, New Jersey.

Sell -

Seller(S) 3

SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 78 of 91
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 19 of 24
State (North Carolina) 1 of 1
Country (United States) 67 of 80
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-22 Amerit Fleet Solutions

Walnut Creek, California, United States

Amerit Fleet Solutions provides repair and maintenance services for vehicle fleet owners and operators across North America, operating via a collection of mobile repair units, branch locations, and on-site customer locations. Amerit Fleet Solutions was founded in 2010 and is based in Walnut Creek, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-18 Nolan Transportation Group

Atlanta, Georgia, United States

Nolan Transportation Group LLC is a provider of truckload brokerage and third-party logistics services. Nolan Transportation Group was founded in 2005 and is based in Atlanta, Georgia.

Sell -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 57 of 71
Sector (Building Materials) 1 of 3
Type (Secondary Buyout) 24 of 28
State (North Carolina) 8 of 8
Country (United States) 56 of 70
Year (2018) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 TGaS Advisors

East Norriton, Pennsylvania, United States

TGaS Advisors is a provider of benchmarking and advisory services firm for commercial organizations in the life sciences industry, robust comparative intelligence and collaborative network membership services. TGaS Advisors was founded in 2004 and is based in East Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Arrow Building Center

Stillwater, Minnesota, United States

Arrow Building Center is a full service building materials retailer serving Minnesota and Western Wisconsin. Arrow Building Center’s 16 full-service lumberyards, specialty divisions, and new state-of-the-art components manufacturing plant are ready to offer the best quality building products at an affordable price with the personalized, professional service customers have come to expect from Arrow since 1903.

Sell -
SELLER

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $7 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.


DEAL STATS #
Overall 29 of 36
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 18 of 22
State (North Carolina) 2 of 2
Country (United States) 27 of 33
Year (2018) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-14 Next Level Apparel

Gardena, California, United States

Next Level Apparel is a designer and supplier of quality, casual apparel to the promotional product, ad specialty, and other decorated apparel markets. The Company’s products are sold blank and marketed under the Next Level brand. The Company’s core product offerings, such as its category of tops – consisting of tees, tanks, hoodies, and jackets. Next Level Apparel was founded in 2003 and is based in Gardena, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Kendall Vegetation Services

Lawrenceville, Georgia, United States

Kendall Vegetation Services provides professional vegetation management services, specializing in right-of-way maintenance, herbicide treatment, storm restoration and power line clearing, to utility customers on both transmission and distribution lines. Kendall Vegetation Services was founded in 1960 and is based in Lawrenceville, Georgia.

Buy -