Crossplane Capital has acquired the Accent Family of Companies, a value-added industrial distributor, in partnership with the founding Sims family and the company’s management team.
Accent operates through two divisions. The Wire-Tie division is a maker and value-added distributor of baling wire, wire ties, and wire tier machines used in the waste, recycling, and packaging industries. Through its Building Materials division, Accent is a regional distributor of roofing, concrete, drywall, and acoustical products – including nails, screws, and wires – used in roofing, concrete, drywall and acoustical applications.
Accent was founded in 1986 by J.P. Sims and is headquartered northwest of Houston in Tomball, TX with distribution capabilities throughout the United States, Canada and the United Kingdom (www.accentfamilyofcompanies.com).
“Our family and the Accent management team are excited to enter into this new partnership with Crossplane Capital,” said Bill Sims, CEO of Accent and son of the founder. “Accent has a number of avenues to continue growing, and we believe Crossplane is the ideal financial and operational partner to work alongside us during our next phase of growth. Crossplane understands our unique culture and the importance of investing in people and infrastructure to be a market-leading industrial distribution company.”
“We are excited about our new partnership with the Sims family, the management team and Accent’s employee base as a whole,” said Brian Hegi, a partner at Crossplane. “We believe Accent’s unique scale and strong customer service make Accent uniquely strategic to its thousands of customers and key supplier relationships around the world.”
Crossplane makes control investments of up to $120 million in North American companies that have $40 million to $200 million in revenue and up to $15 million of EBITDA. The firm has a specific interest in family-owned businesses and its sectors of interest include niche manufacturing, value-added distribution and industrial business services.
“Accent fits squarely within our investment mandate of partnering with family-owned businesses that are looking for a financial and operationally-oriented partner to help drive value,” said Ben Eakes, a partner at Crossplane. “We look forward to a successful partnership with Bill Sims and the entire Accent team.”
Crossplane was founded in November 2018 by Mr. Hegi and Mr. Eakes, both are former managing directors of Prophet Equity, and is headquartered in Dallas (www.crossplanecapital.com).
© 2019 Private Equity Professional | September 20, 2019