American Construction Source made another LBM industry deal, this time acquiring Weaver Lumber of Northern California.
Weaver will continue to operate under its existing local brand name of Weaver Lumber. The Redding, Calif. dealer includes the True Value brand prominently on its exterior.
“We are thrilled to join the ACS platform,” said Brent Weaver, CEO of Weaver Lumber. “ACS brings a deep level of operating expertise and a successful track record of integration and growth. Angeles and Clearlake have significant investment experience creating value and helping businesses achieve their full potential.”
The deal is the seventh for ACS, which describes itself as an LBM distribution platform for custom home builders and repair and remodel contractors. ACS is funded by Angeles Equity Partners and Clearlake Capital Group.
“ACS is pleased to add Weaver Lumber to our growing portfolio of service-oriented lumber and building materials locations,” said James Drexinger, CEO of ACS. “The Weaver family has built a highly successful business, and we are excited to partner with the team and further build on their more than 50-year legacy.”
ACS now operates brands in nine states, including Homewood Lumber, ABC Arrow Building Center and Breckenridge Building Center. The company’s original entry into the industry was through the acquisition of Meeks Lumber in September 2018.
Since, ACS has grown to more than 70 locations.
Simpson Thacher & Bartlett LLP provided legal counsel to ACS. Financial terms of the transaction were not disclosed.