M&A Deal Summary

Marwin Acquires HB&G

On December 2, 2021, Marwin acquired building materials company HB&G from Lakewood Capital, Argosy Private Equity and Graham Partners

Acquisition Highlights
  • This is Marwin’s 3rd transaction in the Building Materials sector.
  • This is Marwin’s 3rd transaction in the United States.
  • This is Marwin’s 1st transaction in Alabama.

M&A Deal Summary
Date 2021-12-02
Target HB&G
Sector Building Materials
Buyer(s) Marwin
Sellers(s) Lakewood Capital
Argosy Private Equity
Graham Partners
Deal Type Add-on Acquisition

Target

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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Buyer(S) 1

Buyer

Marwin

West Columbia, South Carolina, United States
Category Company
Founded 1947
Sector Building Materials
DESCRIPTION

Marwin is a manufacturer of attic stairways, pocket door frames, and other specialty building products, and has operated with an unrelenting focus on quality, innovation, and customer service. Marwin was founded in 1947 and is based in West Columbia, South Carolina.

DEAL STATS #
Overall 3 of 3
Sector (Building Materials) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Alabama) 1 of 1
Country (United States) 3 of 3
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-13 Millwork 360

Tampa, Florida, United States

Millwork 360 is a manufacturer of building products, including doors and custom moldings for residential and commercial projects. The Company is proudly associated with Mastergrain Fiberglass Door Systems and exclusively distributes for the state of Florida. Millwork 360 was founded in 2010 and is based in Tampa, Florida.

Buy -

Seller(S) 3

SELLER

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 STATS #
Overall 4 of 4
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Alabama) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Orion Talent

Cary, North Carolina, United States

Orion Talent provides skilled talent acquisition, recruitment optimization, and military hiring to businesses nationwide. Orion Talent helps organizations acquire the best talent from around the world. Orion Talent was founded in 1991 and is based in Cary, North Carolina.

Buy -
SELLER

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 STATS #
Overall 47 of 52
Sector (Building Materials) 5 of 6
Type (Add-on Acquisition) 33 of 38
State (Alabama) 1 of 1
Country (United States) 47 of 52
Year (2021) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Paragon

Oak Ridge, Tennessee, United States

Paragon provides an unmatched level of commitment to tackling the nuclear industry’s difficult challenges. Dedicated to quality, safety, reliability, and carbon-free energy, the company delivers premium products to nuclear energy facilities with proven reductions in direct costs, parts inventory, improved process efficiency, and obsolescence solutions. Paragon was formed in 2000 and is based in Oak Ridge, Tennessee.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-27 Ultra

Howell, Michigan, United States

Ultra is a manufacturer of ornamental aluminum fencing, pool fences, custom gates, and accessories. Ultra was founded in 1996 and is based in Howell, Michigan.

Sell $25M
SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
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 $10 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 STATS #
Overall 32 of 37
Sector (Building Materials) 5 of 5
Type (Add-on Acquisition) 11 of 14
State (Alabama) 1 of 1
Country (United States) 30 of 34
Year (2021) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Woodland Foods

Waukegan, Illinois, United States

Woodland Foods is a provider of global plant-based ingredients, including herbs and spices, rice and grains, and other specialty food products. Woodland Foods was founded in 1989 and is based in Waukegan, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Giraffe Foods

Mississauga, Ontario, Canada

Giraffe Foods is a producer of customized sauces, dips, dressings, syrups and beverage concentrates for B2B customers, in the home meal replacement, food service and retail markets. Giraffe Foods was founded in 1997 and is based in Mississauga, Ontario.

Sell -
Mergr

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