Edwards Building Center, Breckenridge Building Center sold to California firm
LOS ANGELES — Angeles Equity Partners LLC, a private investment firm focused on value creation through operational transformation, and Clearlake Capital Group L.P., a leading private investment firm, have announced their portfolio company, American Construction Source, has acquired Edwards Building Center and Breckenridge Building Center. Financial terms of the transaction were not disclosed.
Edwards Building Center and Breckenridge Building Center provide home builders, building professionals and sophisticated do-it-yourself customers with lumber and building materials products and services. Both businesses will continue serving customers under their current local brand names.
“This acquisition adds two iconic brands to support the American Construction Source goal of creating a leading national building products distributor with the industry’s best customer experience,” said Timothy Meyer and Jordan Katz, co-founders and managing partners of Angeles Equity Partners.
Key management from Edwards Building Center and Breckenridge Building Center will remain with the business as it joins the ACS portfolio. Mike Burk continues as regional manager and general manager of Edwards Building Center. Denny Rogstad continues as general manager of Breckenridge Building Center.
“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,” Burk said. “Our customers appreciate our attention to detail and how we deliver on our promises.”
The valley’s commercial and residential property markets are similar in some ways — availability is tight and nothing is what you’d call “cheap.”