NEW YORK–(BUSINESS WIRE)–Monomoy Capital Partners, a middle-market private investment firm focused on creating operational value, announced the sale of its portfolio company, Construction Resources Holdings, LLC (“CR”) to International Designs Group LLC ( “IDG”), a holding company of Mill Point Capital. Terms of the transaction were not disclosed.
Construction Resources is the leading distributor of value-added building products in the Southeast. An award-winning supplier of specialty architectural surfaces, appliances and products, Construction Resources offers a range of exclusive, sought-after, high-quality brands for builders and homeowners. The company is based in Atlanta, Georgia, with showrooms, surface galleries and design centers located in the area.
Monomoy initially acquired Constructions Resources and Builder Specialties to create the CR platform. Merging two family businesses that fit together strategically, the new platform sought to capitalize on the attractiveness of the building products industry in the Southeast. In 2019, CR acquired United Materials, Inc., helping it expand its product line and geographic reach.
Under Monomoy ownership, CR has implemented extensive value creation programs to drive earnings growth, improve the company’s cash conversion cycle and position the company as the leading supplier and distributor of specialized construction in its main geographical areas.
Lee Mlotek, CEO of Monomoy, commented: “The evolution of Construction Resources under our partnership has been remarkable. We are exceptionally proud of the management team and their accomplishments. The team has been resilient and persistent throughout our ownership.
“Monomoy’s investment and operations teams have been integral to CR’s success over the years,” commented Mitch Hires, CEO of Construction Resources. “Their strategic and operational expertise has helped us overcome challenges and focus activity on our core and profitable divisions. Their vision to grow the business through mergers and acquisitions, along with the resources they provided to create not only the best reports and controls, but also to develop our leadership talents, positioned us for success. continue in the future.
Justin Kish and Adam Reeder of Rothschild & Co. served as financial advisors to Construction Resources on the transaction; Scott Molinaro of Lincoln International LLC advised Construction Resources’ board of directors; Scott Abramowitz of Ropes & Gray LLP served as corporate counsel.
Monomoy Capital Partners is a private investment firm with over $2.7 billion in assets under management. Monomoy invests in equity and debt of middle market companies that can benefit from operational and financial improvement with a focus on the industrial and consumer product sectors in North America and Europe. Please visit our website at www.mcpfunds.com for more information about Monomoy and its portfolio companies.