PrimeSource Brands buys decking fastener maker Starborn in 11th add-on deal
What's the deal? PrimeSource BrandsDealroom has a profile for this one. Try Dealroom →, a North American provider of specialty branded building products backed by Clearlake Capital GroupDealroom has a profile for this one. Try Dealroom →, has acquired Starborn IndustriesDealroom has a profile for this one. Try Dealroom →, a maker of branded fastening solutions and installation systems for decking and exterior applications. Financial terms were not disclosed.
Who's who? Founded in 1961 and based in Edison, New Jersey, Starborn sells fasteners and installation tools under brands including DECKFAST, PRO PLUG, CAP-TOR xd, HEADCOTE, and SMART-BIT. PrimeSource carries more than 100,000 SKUs and serves over 56,000 customer locations through 64 sites across 26 states and two countries.
The rationale: Starborn's products map onto two PrimeSource segments — fasteners and outdoor living — alongside brands such as Grip-RiteDealroom has a profile for this one. Try Dealroom →, CobraDealroom has a profile for this one. Try Dealroom →, and WolfDealroom has a profile for this one. Try Dealroom → decking. Their reputation for innovation and service "folds naturally into the PrimeSource business," said chief executive officer Tom Koos.
Why now? The deal is PrimeSource's eleventh acquisition since partnering with Clearlake in December 2020. Clearlake said it has deployed significant capital into outdoor living, "one of our highest-conviction categories within residential building products."
The signal: Clearlake, which manages over $185 billion in assets, is using PrimeSource as a roll-up vehicle to consolidate the fragmented specialty building products market. Managing director Ben Kruger said the firm remains excited about the company's "ongoing momentum as a consolidator in this space."
Read more: Business Wire
Image credit: Generated with Gemini
