PrimeSource Brands Expands Portfolio With CityPost Acquisition
Deal News | Dec 19, 2024 | Clearlake Capital
PrimeSource Brands, operating under the auspices of Clearlake Capital, has announced the acquisition of CityPost, a company specializing in cable railing systems for residential renovation. CityPost, based in Spokane Valley, WA, has become the latest addition to PrimeSource's growing line-up of outdoor living products, enhancing its portfolio by integrating CityPost's innovative cable railing solutions. PrimeSource Brands CEO, Tom Koos, expressed enthusiasm about the acquisition, citing the synergy with existing products like RailFX and Ultra-Tec, and aligning with their strategic objective of leading the outdoor living sector. Founded in 2018, CityPost has made a mark with its user-friendly, aesthetically pleasing products, leveraging a contract manufacturing model. Clearlake Capital emphasizes this acquisition as part of a broader strategy to accelerate growth through both organic initiatives and acquisitions. The acquisition marks PrimeSource's seventh since its partnership with Clearlake in 2020, although financial details remain undisclosed. Clearlake Capital, a major private equity player, continues to focus on enhancing its portfolio in sectors such as technology, industrials, and consumer through its extensive investment expertise.
Sectors
- Private Equity
- Building Products
- Consumer Goods
Geography
- United States – The acquisition involves companies based in several locations across the United States, including Spokane Valley, WA, Santa Monica, CA and Irving, TX.
Industry
- Private Equity – The article involves Clearlake Capital Group, a prominent private equity firm supporting PrimeSource Brands in its acquisitions.
- Building Products – PrimeSource Brands and CityPost are involved in the building products industry, specifically in residential construction and renovation products.
- Consumer Goods – CityPost creates consumer-focused products like cable railing systems for residential purposes, contributing to this sector.
Financials
- Undisclosed – Financial terms of PrimeSource Brands' acquisition of CityPost were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PrimeSource Brands | Acquirer | Company | A provider of specialty branded residential building products, backed by Clearlake Capital. |
| CityPost | Target | Company | A company that provides cable railing systems for residential renovations. |
| Clearlake Capital Group, L.P. | Private Equity Firm | Company | A sector-focused private equity firm supporting PrimeSource Brands' growth strategy. |
| Tom Koos | CEO, PrimeSource Brands | Person | Leader of PrimeSource Brands, guiding the company's strategic acquisitions. |
| Jos E. Feliciano | Co-Founder and Managing Partner, Clearlake | Person | Co-founder of Clearlake, contributing to the acquisition strategy. |
| Colin Leonard | Partner, Clearlake | Person | Partner at Clearlake, involved in executing the firm's investment strategies. |
| Michael Mosback | Co-Founder and CEO, CityPost | Person | Co-founder and CEO of CityPost, a target in the acquisition. |