Sun Capital Partners has completed the acquisition of AMES Taping Tools, a provider of automatic taping and finishing (ATF) tools and supplies that are used in drywall finishing applications. Sun Capital acquired the company from Aurora Capital Group and Saybrook Capital which had acquired AMES in March 2010 through a section 363 sale of assets under Chapter 11 of the bankruptcy code.
AMES Taping Tools’ primary business is the rental and service of ATF tools to residential and commercial interior finishing contractors through its network of more than 100 company stores and franchised locations throughout the United States and Canada. These stores sell a variety of merchandise including branded and private label hand-finishing drywall tools, supplies and accessories. The company also offers professional education and certification programs, which are available via in-store demonstrations, classroom training, and job site instruction.
In addition to its finishing tool rental business, AMES also sells ATF tools under the TapeTech brand through approximately 300 independent distributors and dealers. AMES was founded in 1939 and is headquartered northeast of Atlanta in Suwanee, GA (www.amestools.com).
“Our investment in AMES Taping Tools represents a great opportunity to grow a market-leading provider of specialized contracting equipment,” said Marc Leder, Co-CEO at Sun Capital.
Sun Capital invests in leveraged buyouts, equity, and debt in companies that can benefit from its in-house operating professionals and experience. Sun Capital has invested in and managed more than 340 companies worldwide with combined sales in excess of $45 billion since the firm’s inception in 1995. The firm has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Stockholm and Shenzhen (www.SunCapPart.com).
“Sun Capital has a great reputation for being able to jump start growth at companies like ours with a leading market position and strong product set,” said Fred Daniels, President and CEO of AMES Tools. “Their team is a great match with ours culturally, and we’re looking forward to working with them to maximize AMES’ potential.”
Sun Capital has experience in the manufacturing and distribution of building products and related services through current affiliated portfolio companies including Trulite Glass & Aluminum, a fabricator and distributor of architectural glass and aluminum; Arrow TruLine, a manufacturer and distributor of garage door hardware and fittings; Horizon Services, a residential provider of plumbing, heating and air conditioning services; and Demilec, a provider of spray polyurethane foam insulation.
“We’re excited to partner with the management team of AMES to accelerate the company’s growth and success,” said Aaron Wolfe, Managing Director at Sun Capital.
© 2017 Private Equity Professional | September 19, 2017
