Simpson Thacher represented American Construction Source LLC in the transaction.
American Construction Source LLC, a portfolio company of Angeles Equity Partners, LLC and Clearlake Capital Group, L.P., executed its purchase of certain assets held by Foley Fuel and Lumber Company, Inc. The transaction closed in April 2021. Financial terms were not disclosed.
American Construction Source (ACS) is a leading national building materials distribution platform for custom home builders and repair and remodel contractors. The acquisition of Foley Lumber and Milaca Building Center is the ninth acquisition by ACS under sponsorship by Angeles and Clearlake.
The Simpson Thacher team included Greg Klein (Picture), Daniel Switts and Claire Hutar (M&A); Sophie Staples (Tax); Michael Isby (Environmental); and Ashlie Lawton (ECEB).
Involved fees earner: Claire Hutar – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Gregory Klein – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Daniel Switts – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;
Clients: American Construction Source;