Trive Capital has acquired Architectural Granite & Marble, an importer and distributor of natural and engineered stone that is used in residential and commercial construction.
Customers of Architectural Granite & Marble (AG&M) include countertop fabricators, architects, interior designers, and commercial contractors. AG&M was founded in 1992 and has five locations across the US. The company is headquartered northwest of Austin in Spicewood, TX (www.agmgranite.com).
“We are excited to partner with the AG&M management team that has a successful history of executing a differentiated strategy in the stone distribution segment,” said Conner Searcy, Managing Partner at Trive Capital. “Given Trive’s experience in the building products sector and our hands-on approach to portfolio company operations, we are uniquely suited to support the continued expansion of AG&M.”
Trive Capital invests from $10 million to $60 million in North American headquartered companies that have revenues of $30 million to $500 million. Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing and industrials; chemicals; distribution; business & professional services; and communications. Trive, founded in 2012 by Conner Searcy and Chris Zugaro, is currently investing from a $300 million institutional fund raised in 2013. The firm is based in Dallas (www.trivecapital.com).
“Trive’s approach and desire to understand our business and help us grow clearly differentiated them from other financial partners,” said Jack Seiders, AG&M’s President and Founder. “AG&M has always been a relationship-focused company, and we feel Trive is a great fit given their similar orientation. Throughout the process, Trive provided us with considerable resources and demonstrated an open and honest approach that has the entire AG&M team very excited about a successful future together.”
According to Trive Vice President Dan Lenahan, AG&M has a number of value creation strategies that it can pursue including product line expansion and entering new geographies. “The collaborative dynamic struck between AG&M and Trive gives us the opportunity to continue to improve daily operations, successfully execute a well-rounded growth strategy, and unlock the company’s full potential.”
Monroe Capital provided a senior credit facility to support the acquisition of AG&M by Trive.
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-7-15
