BB&T Capital Markets Serves as Exclusive Financial Advisor to Environmental StoneWorks in its Acquisition by NCI Building Systems
On February 20, 2019, Environmental StoneWorks (“ESW” or the “Company”), a portfolio company of Gallagher Industries and Mid Oaks Investments, was acquired by NCI Building Systems (“NCI”). NCI (NYSE: NCS) is a publically traded, $5 billion-revenue building products manufacturer; in fiscal 2018, ESW generated $167 million in pro forma revenues. NCI acquired ESW for $186 million. ESW’s management team will remain with the Company. BB&T Capital Markets served as the exclusive financial advisor to ESW.
About the Companies
Environmental StoneWorks is the only national manufacturer and installer of stone veneer for the residential and commercial markets. The company offers a broad range of products suitable for local preferences along with installation services to ensure a complete turnkey solution. Environmental StoneWorks has five manufacturing facilities, twenty-one installation centers and approximately 660 employees in the United States.
Gallagher Industries is a family-held investment firm whose mission is to maximize the long-term value of targeted private equity partnerships.
Mid Oaks Investments is a private investment firm that invests its own capital in middle market companies that possess a substantial opportunity for value creation.
NCI, headquartered in Cary, NC, is the leading exterior building products manufacturer with a broad range of products sold to residential and commercial customers for both new construction and repair & remodel. With a portfolio of key products which includes windows, doors, siding, metal wall and roof systems, engineered commercial buildings, insulated metal panels, stone and other adjacent products, the Company has more than 20,000 employees across 80 manufacturing, distribution and office locations throughout North America.
Commercial & Industrial
The BB&T Capital Markets Commercial & Industrial Group provides clients with industry expertise and exceptional transaction execution. We offer M&A advisory, capital raising and corporate banking services for a variety of sectors, including building products & materials; commercial & consumer durables; industrial manufacturing and distribution; and outsourced commercial and industrial services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.