Investors Help ACS Buy Contractor’s Truss Systems
Originally published by: Venture Beat — September 4, 2019
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ACS American Construction Source (“ACS”), a leading national building materials platform for custom home builders and repair and remodel contractors, backed by Angeles Equity Partners, LLC (“Angeles”) and Clearlake Capital Group, L.P. (together with its affiliates “Clearlake”), announced the acquisition of Contractor’s Truss Systems (“CTS”), located in Cotter, Arkansas. CTS, which will continue to operate under its existing brand name, has been a provider of engineered wood products for over 25 years.
“Contractor’s Truss Systems joins our other component manufacturing facilities in California, Missouri, and Wisconsin to help our customers complete construction projects on time and under budget,” said James Drexinger, CEO of ACS. “The CTS team looks forward to providing the same personalized and responsive service builders have come to rely upon throughout the Ozarks region for more than a quarter century.”
“CTS is excited to join the ACS platform and extend our component manufacturing capabilities beyond our existing customers,” said Contractor’s Truss Systems founders Kent Newman and Teresa Newman. “We believe ACS has the momentum and experienced leadership team to achieve the mission of becoming a leading building products distributor with national scale, personalized service, and the industry’s best customer experience.”
Component manufacturing helps professional builders and contractors address skilled labor shortages by leveraging pre-built wall panels, floor trusses and roof trusses engineered and manufactured in a controlled environment to ensure homes and multiple dwelling units are built to last. ACS is expanding its component manufacturing capacity with the acquisition of CTS. The acquisition of CTS is the fifth by ACS in the past 11 months.
Irell & Manella, LLP provided legal counsel to ACS, Angeles and Clearlake. Financial terms of the transaction were not disclosed.