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Consolidated the highly fragmented insulation distribution industry via a buy and build strategy

Industry: Industrial insulation distributor

Acquisition Date: 2010

Status: Sold in 2014 to a financial sponsor

CapStreet originally invested in Thorpe Holdings (“Thorpe”), which consisted of an insulation distribution business and a refractory services business. We successfully spun out the refractory business from the insulation distribution business to maximize operating efficiency, and then merged Thorpe’s insulation distribution business with major competitor, Distribution International. The result was the the company became the leading distributor of  insulation, related specialty fabricated products, and accessory supplies in North America. 

CapStreet Value Creation

  • Recruited CEO, VP Operations, HR Director and Controller
  • Recruited outside directors
  • Completed merger with major U.S. competitor
  • Completed two major Canadian acquisitions
  • Completed seven additional acquisitions under CapStreet ownership
  • Scale created significant buying power
  • Improved sourcing and implemented strategic pricing, driving significant margin expansion

Built a Best In Class Distribution Business with 64 Locations Throughout the U.S. and Canada Which Was Generating Over $500 Million of Revenue 

Case studies have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by The CapStreet Group and do not purport to be a complete list of investments.  A complete list of prior investments made by The CapStreet Group is available upon request.