Acquisition of NWI Enterprises

Industrial
Acquisition of NWI Enterprises

Summary

Baird served as financial advisor to PrimeSource Building Products, Inc. on this transaction

About

PrimeSource Building Products, Inc. (“PrimeSource” or the “Company”), a portfolio company of Clearlake Capital Group, L.P. (“Clearlake”), has recently agreed to acquire NWI Enterprises (“Nationwide”), a portfolio company of Harbour Group. The transaction is subject to customary closing conditions. Terms of the transaction were not disclosed.

PrimeSource is a leading national provider of specialty branded residential building products. The Company’s product offering spans more than 52,000 SKUs, including construction fasteners, cabinet knobs & pulls, and functional hardware, among others. PrimeSource operates an expansive footprint, serving over 43,000 customer locations through 45 strategically located distribution centers in 29 states. PrimeSource plays a crucial role for its customers who rely on its brand value, breadth of offering and logistics capabilities. PrimeSource is headquartered in Irving, Texas.

Clearlake is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, Clearlake seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® Clearlake’s core target sectors are industrials, technology and consumer. Clearlake currently has approximately $35 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. Clearlake is headquartered in Santa Monica, California.

Nationwide, through its subsidiaries, is a supplier of specialty hardware to OEMs, distributors, and installers in the fence and gate, railing and patio markets. Nationwide’s brands include Nationwide Industries, Ultra-tec, RailFX and LockeyUSA. Nationwide’s products include a broad line of fence and gate hardware, railing component and infill systems, perimeter security components, custom building materials components sold on an OEM basis and hardware for the patio industry. Nationwide is headquartered in Tampa, Florida.

Harbour Group is a privately owned, operations focused company. Harbour Group’s companies are engaged in manufacturing and distribution across diverse industries including control solutions, remote monitoring solutions, fence and gate hardware systems, interior wallcoverings and fabrics, LED lighting, flow control, scientific products and lab ware, thermal management solutions, boiler systems, professional diagnostic and repair tools, stainless fittings and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 215 companies in 47 different industries. Harbour Group is headquartered in St. Louis, Missouri.
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Industrial
Acquisition of NWI Enterprises
Date
May 2021
Company
PrimeSource Building Products, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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