BORDER CONSTRUCTION SPECIALTIES, LLC ANNOUNCES ACQUISITION OF ASSETS OF L&M MATERIALS, INC.
CHICAGO, IL – July 17, 2008 – Border Construction Specialties, LLC (“Border”), a portfolio company of Svoboda Capital Partners LLC (“SC”), is pleased to announce it has acquired certain assets of L&M Materials, Inc. (“L&M”). The transaction is the first add-on acquisition for Border since SC invested in March 2007 and the third completed by the existing management team since 2002. M&I Bank provided senior debt to complete the transaction. Specific terms of the transaction were undisclosed.
Based in Phoenix, Arizona L&M is a supplier of masonry and landscape materials to small and medium-sized contractors in the Phoenix market. The company’s main product lines include masonry block, pavers, sand, decorative rock, concrete and bagged products. The Company operates two locations in Glendale and Tempe.
Post-transaction the Glendale and Tempe locations will operate under the Marvel name. This transaction will bring the number of Marvel locations to six and the total number of Border locations to sixteen.
“The acquisition of these L&M assets demonstrates Border’s market leadership and commitment to long-term growth,” said Brian Saker, CEO of Border. “The addition of two new locations to the Marvel platform will help expand and deepen our footprint in the Phoenix market. The acquisition demonstrates our commitment to customer service by providing more locations and additional products to our customers.”
About Border Construction Specialties, LLC
Border Construction Specialties, LLC is a leading value-added distributor of specialty cement and masonry construction products to a diverse customer base of contractors in the southwestern United States. Consistently ranked among Arizona’s list of top 100 privately held businesses, Border markets its products through 16 branch facilities in Arizona, Nevada, and California. For more information, please visit www.bordercorp.com.
About Svoboda Capital Partners, LLC
Svoboda Capital Partners is a Chicago-based private equity firm that invests in and helps build leading value-added distribution, consumer and business services companies in the lower middle-market. Founded in 1998, SC has $250 million of capital under management. For more information, please visit www.svoco.com.
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