• Sun Capital to Leverage Expertise in Building Products Sector
• Business to Benefit from Strong New Housing and Remodeling Markets
BOCA RATON, Fla., October 21, 2021--(BUSINESS WIRE)--Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm focused on defensible businesses in growing markets with tangible improvement opportunities, today announced that an affiliate has completed the acquisition of Select Interior Concepts ("SIC"), a leading importer and distributor of natural stone, engineered stone and tile for residential and commercial applications used in countertops, backsplashes and other related applications. Upon completion of the transaction, the Company has changed its name to Architectural Surfaces Group ("ASG" or "the Company").
With legacy companies founded in 1992 and headquartered in Austin, Tex., ASG is a premier, value-added distributor of interior building products with leading market positions in highly attractive markets. The Company services its customers through a national network of 22 distribution centers and operates 20 showrooms selling proprietary brand names including PentalQuartz and MetroQuartz, delivering a premier customer experience.
"This investment plays to many of Sun Capital’s strengths, including success in the building products sector across multiple economic cycles," said Marc Leder, Co-Chief Executive Officer of Sun Capital. "With our support, ASG will be better able to capitalize on a significant market opportunity."
"ASG is excited to have an experienced partner focused on growth in Sun Capital," said Patrick Dussinger, who was named CEO of the newly-independent business. "We will continue to execute our successful plan and make strategic acquisitions that will expand our market. Being a private company will allow us to accelerate value creation and we are very excited about the future."
ASG plays a dual role as both a value-added distributor and a direct to customer/designer showroom, connecting global slab suppliers with thousands of end customers in a highly fragmented, localized market for both remodeling and new construction projects.
"It is an exciting time to begin working with Architectural Surfaces Group," added Jeremy Stone, Managing Director at Sun Capital. "The residential and remodeling sub-sectors of the building products market are growing rapidly, in light of significant undersupply in housing. The wholesale slab market in particular is expected to experience continued growth over the next few years. We also see opportunities for tangible performance improvements to strengthen the business, including greater digitization, sales force enhancement, and consolidation in this highly fragmented market."
Sun Capital has deep experience investing in the building products sector. Past investments include Arrow Tru-Line, a leading manufacturer and supplier of garage door hardware, sold in September 2021; StonePoint Materials, a leading producer of crushed stone, sand and gravel, sold in March 2021; Trulite Glass & Aluminum Solutions, one of the largest fabricators and distributors of architectural glass and aluminum products; Ames Drywall Finishing Tools & Services, the nation’s leading provider of automatic taping and finishing tools, supplies and training; American Standard, a leading manufacturer of branded bath and kitchen products; and Demilec, the leader in the North American spray polyurethane foam insulation market.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 425 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The Firm has built a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the Business Services, Consumer, Healthcare, Industrial, and Technology sectors. The Firm has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London. For more information, please visit www.suncappart.com.
About Architectural Surfaces Group
Architectural Surfaces Group is a leading importer and distributor of natural stone, engineered stone and tile for residential and commercial applications. The strength of our global sourcing and our national presence allow us to offer a deep inventory of the finest quality materials delivered when and where you need them, while our local roots ensure a commitment to knowledge and relationships that run deeper than any transaction. For more information, visit: www.arcsurfaces.com.
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