US LBM to Acquire ACSMay 27th, 2021 by Editor
Angeles Equity Partners LLC and Clearlake Capital Group L.P. have announced they recently signed a definitive agreement to sell American Construction Source (ACS) to US LBM. ACS is a lumber and building materials (LBM) distribution platform serving custom homebuilders, repair and remodel contractors, and do-it-yourself homeowners across the United States. Financial terms of the transaction were not disclosed.
Angeles and Clearlake formed ACS in 2018 in partnership with CEO James Drexinger through the acquisition of three leading regional LBM distributors, creating a scaled platform with a national distribution footprint. Since its inception, ACS has successfully acquired and integrated nine businesses. It now operates a building materials distribution network of more than 70 locations across the nation, focusing on some of the highest growth regional markets in the United States.
“ACS joining US LBM is an outstanding outcome based on the alignment of our shared strategy to preserve longstanding local lumberyard brands and operations while delivering a great customer experience. We are thrilled to have had the opportunity to partner with Angeles and Clearlake, and are grateful to our customers, suppliers, leadership team, salespeople, and associates for their support,” said James Drexinger, CEO of ACS. “Together we have built a significant industry platform while simultaneously honoring the 100+ year heritage of the local brands and family legacies we have acquired. None of this would have been possible without the value-added sponsorship of Angeles and Clearlake, whose deep building products, distribution, and operating expertise accelerated our growth trajectory.”