Trilantic North America and its Co-Investors Complete Sale of USI’s Installation and Distribution Business to TopBuild
Trilantic North America and its co-investors have closed the previously announced sale of the installation and distribution business (the “Business”) of United Subcontractors, Inc. (“USI”), a national provider of insulation installation and related services to builders, contractors and homeowners, to TopBuild Corp., (“TopBuild”), the largest purchaser, installer and distributor of insulation products to the U.S. construction industry, in an all-cash deal valuing the Business at $475 million.
USI’s Construction Services segment, a business that provides outsourced construction and structural framing services for homebuilders throughout southern Florida, was not included in the transaction and continues to be owned by Trilantic North America and its co-investors.
“We appreciate Trilantic North America's support during a transformative part of USI’s growth,” said Bill Varner, Chief Executive Officer of USI. “This is a fantastic outcome for all of our stakeholders.”
"We would like to thank Bill and the USI team for their hard work and dedication in leading the company throughout the duration of our partnership,” said Charles Fleischmann, Partner at Trilantic North America. “Their efforts have been instrumental in the execution of this transaction and we wish them every success going forward.”
RBC Capital Markets LLC acted as financial advisor to USI and Gibson, Dunn & Crutcher LLP served as its legal advisor. J.P. Morgan Securities LLC and SunTrust Robinson Humphrey, Inc. acted as financial advisors to TopBuild and Greenberg Traurig, P.A. served as its legal advisor.
May 01, 2018
St. Paul, MN
Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of $7.9 billion. For more information, visit www.trilanticnorthamerica.com.
About Trilantic North America
Based in St. Paul, Minnesota, USI is a leading national provider of insulation installation and related services to builders, contractors and homeowners, serving customers in 14 states from 38 locations, including high growth regions in the Pacific Northwest, Mountain West, Southwest and Southeast.
TopBuild Corp., headquartered in Daytona Beach, Florida, is the leading purchaser, installer and distributor of insulation products to the U.S. construction industry. We provide insulation services nationwide through TruTeam®, which has over 215 branches, and through Service Partners® which distributes insulation from over 75 branches. We leverage our national footprint to gain economies of scale while capitalizing on our local market presence to forge strong relationships with our customers. To learn more about TopBuild please visit our website at www.topbuild.com.