Distributor PrimeSource Brands, Irving, Tx., announced today that it has signed a definitive agreement to acquire Wolf Home Products, York, Pa., from affiliates of Tenex Capital Management.
Wolf is a premier designer and supplier of branded decking, railing, cabinetry, vanities, countertops and other residential building products. Wolf services the pro dealer channel with short lead times by leveraging its distribution network and dealer-direct delivery model. With over 175 years of experience, Wolf has established itself as a preferred residential building products brand with exceptional quality, delivery speed and customer engagement.
“We are thrilled to welcome Wolf into the PrimeSource Brands family,” said Tom Koos, CEO of PrimeSource. “CEO Craig Danielson and his team have created a terrific service model that differentiates Wolf from anyone in their space, and the national footprint and overall scale PrimeSource brings will enable them to expand rapidly. Their leadership in Wolf-branded products, combined with a focus on the high growth markets in and around residential repair and remodel and outdoor living, fits very well with our strategy.”
“Our investment was driven by our thematic-based approach to investing in the building products industry and our experience in specialty distribution. PrimeSource benefits from significant market tailwinds as new residential construction ramps up to meet strong pent-up demand, and we believe the platform can play a unique role as a consolidator in this space,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, Clearlake. “Along with the acquisitions of Dimora Brands and Nationwide Industries, Wolf further strengthens PrimeSource’s branded building products portfolio across interior and exterior residential applications. We are excited to expand our investment in PrimeSource, and we look forward to continuing to deploy our O.P.S. playbook to further enhance the Company’s growth through organic and acquisition initiatives.”