With 34 distribution centers throughout the U.S. and more than 1,100 employees, PrimeSource is a global distributor of building materials serving residential, commercial, and industrial new-construction and remodeling markets. Core products distributed under its nationally known Grip-Rite and Pro-Twist brands include: nails, screws, and collated fasteners; tools, compressors, and accessories.
The company also plays a crucial role for its customers who rely on its superior brand value, breadth of offering and sourcing and logistics capabilities.
“We deployed the full range of our M&A&O toolkit, helping the company grow strategically while enhancing its capabilities in supply chain management, logistics, salesforce effectiveness and technology applications,” said Platinum Equity partner Jacob Kotzubei. “By investing in growth and fundamentally improving the company’s operational underpinnings, PrimeSource substantially increased earnings and is well-positioned to sustain its momentum.”
Clearlake is looking forward to partnering and collaborate with Platinum Equity’s PrimeSource team.
“We are excited to partner with…the entire PrimeSource management team,” said José E. Feliciano, co-founder and managing partner at Clearlake. “This new investment is a great example of our focus and expertise in the specialty industrial distribution sector.”
Clearlake Capital Group, L.P. is an investment firm founded in 2006, operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach.