American Construction Source acquires Arrow Building Center
Arrow operates 16 full-service yards in Minnesota and Wisconsin.
American Construction Source (ACS), the recently established pro dealer holding company, has made another big move – this time in the Midwest – with the acquisition of Arrow Building Center (ABC).
Based in Stillwater, Minn., ABC is also known as Consolidated Lumber Company and operates 16 full-service lumber yards in Minnesota and Wisconsin and a new state-of-the-art components manufacturing facility. ACS is a portfolio company of the private investment firms of Angeles Equity Partners, LLC and Clearlake Capital Group, L.P. Financial terms of the deal were not disclosed.
“The Arrow Building Center LBM business has been serving customers in the upper Midwest since 1903,” said James Drexinger, CEO of ACS. “We remain committed to providing the efficient ‘Arrow Experience’, as we look to drive operational excellence and identify new ways to be the most trusted building products supplier in the local markets we serve.”
We believe the acquisition of ABC is immediately accretive and further demonstrates our commitment to consolidate the building products distribution sector to deliver national scale, personalized service, and the industry’s best customer experience,” Timothy Meyer and Jordan Katz, co-founders and managing partners of Angeles Equity Partners, said in a joint statement.
“We are pleased to bring ABC, a well-known and respected name, under the growing American Construction Source platform,” José E. Feliciano, co-founder and managing partner of Clearlake and James Pade, principal of Clearlake, said in a statement. “Clearlake looks forward to partnering with the talented ABC management team as we continue to build the ACS platform and promote operational best practices through our O.P.S. approach.”
Key management from Arrow Building Center will remain with the business as it joins the ACS portfolio. Ron Schumacher continues leading ABC as division president, and Ed O’Connor continues as vice president of finance and accounting.
“We are confident Angeles and Clearlake are the best partners to create value and enable growth through ACS to help our business achieve its full potential,” said Schumacher. “Our customers appreciate our attention to detail and how we deliver on our promises.”
In September, ACS announced its arrival with the acquisition of Meek’s Lumber before quickly purchasing Edwards Building Center and Breckenridge Building Center in October.
No comments found