Silver Oak has recapped Construction Labor Contractors, a provider of temporary staffing of skilled tradesmen for the commercial construction market.
The company has 15 sales offices throughout the Midwest, Mid-Atlantic and Southwest that service clients in all 50 states. CLC provides a variety of skilled trades to construction sites, including electricians, plumbers, carpenters and HVAC technicians. The company was founded in 1997 and is based in south of Cleveland in Richfield, OH (www.constructionlabor.com).
“This transaction enables CLC to focus on the next phase of the company’s development with a value-added partner and the capital resources necessary to grow our company through organic investments in new offices and improved sales, marketing and recruiting execution” said CLC president George Cook, who will continue to lead the Company as CEO.
“We are excited to partner with the founder of CLC, Timothy Cherotti, and with the current CEO, George Cook, as well as the rest of the CLC management team. The company has a successful track record of growth and a strong reputation among construction contractors across the country. We look forward to leveraging the company’s existing strengths, while further investing in both new and existing markets,” said Greg Barr, Managing Partner of Silver Oak.
Silver Oak makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $3 million to $20 million. Sectors of interest include business services, healthcare services, and consumer services. Silver Oak is based in the Chicago suburb of Evanston (www.silveroaksp.com).
CLC is actively looking for add-on acquisition opportunities. Please contact Greg Barr or David Friedman of Silver Oak for additional information.
© 2024 PEPD • Private Equity’s Leading News Magazine • 6-26-14
