HOUSTON–(BUSINESS WIRE)–Distribution International, Inc. (“DI”), North America’s leading
mechanical insulation distributor and a portfolio company of Advent
International, today announced the acquisition of Silvercote, LLC and
the assets of Silvercote’s Canadian operations (collectively,
“Silvercote”) from Knauf Insulation, Inc., and Knauf Insulation Ltd.,
respectively. Headquartered in Greenville, SC, with 11 branches located
across the USA and Canada, Silvercote is a market leading laminator and
distributor of metal building insulation (“MBI”) and related products
and accessories to metal building manufacturers, specialty contractors
and metal building brokers.
“This acquisition is an exciting addition for DI as we continue our
journey to deliver high quality insulation solutions and exceptional
service to our customers throughout North America. We look forward to
welcoming all Silvercote associates, customers and suppliers to the DI
family,” said Steve Margolius, Distribution International CEO.
Silvercote’s operations will be combined with DI’s existing MBI business
under the Silvercote brand and will continue to be headquartered in
Greenville, SC. Joey Viselli, the current General Manager of Silvercote,
will lead the combined business as DI’s Senior Vice President and
General Manager, Specialty Products. “Bringing these two organizations
together creates the leading MBI company in North America. I am honored
and excited at the opportunity to lead and grow this business as part of
the DI family,” said Joey Viselli, also noting that, “The combined
business has a branch footprint that is ideally suited to service our
growing customer base across North America.”
As part of the transaction Silvercote will continue to source product
from and work closely with Knauf Insulation to ensure uninterrupted
service and consistent product to its customers. “We’re looking forward
to continuing our partnership with Silvercote and DI,” said Matt
Parrish, President and CEO of Knauf Insulation, Inc. “We are excited to
be working together to deliver the highest quality services and product
solutions for our customers.” This transaction is limited to the
Silvercote business.
Mergers and acquisitions are an important element of DI’s growth
strategy. Since December 2011, DI has completed 22 acquisitions in the
insulation market, expanding its geographic presence across the U.S. and
Canada and broadening its product and service offerings.
About Distribution International (DI)
Founded in 1986, DI is a value-added distributor of insulation-related
specialty fabricated products, HVAC products, and safety supplies in
North America. The Houston-based company has over 90 locations and
provides its customers with mission-critical products and services
across the commercial building, chemicals, energy, power, railcar and
marine end markets. The company has the broadest reach of any
distributor in its market in the U.S. and Canada.
For more information, visit www.distributioninternational.com
or www.crossroadsci.com.
About Advent International
Founded in 1984, Advent International is one of the largest and most
experienced global private equity investors. The firm has invested in
over 345 private equity transactions in 41 countries. As of December 31,
2018, Advent had $36 billion in assets under management, which does not
include the $17.5 billion recently raised for its ninth global private
equity fund, GPE IX. With offices on four continents, Advent has
established a globally integrated team of over 195 investment
professionals across North America, Europe, Latin America and Asia. The
firm focuses on investments in five core sectors, including business and
financial services; healthcare; industrial; retail, consumer and
leisure; and technology, media and telecom. After 35 years dedicated to
international investing, Advent remains committed to partnering with
management teams to deliver sustained revenue and earnings growth for
its portfolio companies.
For more information, visit www.adventinternational.com
About Knauf Insulation
Knauf Insulation is a leading manufacturer of thermal and acoustical
glass mineral wool insulation. Knauf Insulation offers a wide-range of
insulation products to meet the growing demand for energy efficiency and
acoustic performance in residential, commercial, industrial, OEM and
metal building applications. It’s Knauf Insulation’s mission to
challenge conventional thinking and create innovative solutions that
shape the way we live and build in the future, with care for the people
who make them, the people who use them and the world we all depend on.
Knauf Insulation is part of the Germany-based Knauf Group, a
family-owned, multinational producer of building materials and
construction systems.
For more information, visit www.knaufinsulation.us
Contacts
Distribution International
Steve Margolius
CEO
(713)
428-3700
[email protected]
Silvercote
Joey Viselli
SVP, GM
(864) 603-2840
[email protected]
Knauf Insulation
Leah Honeycutt
Media Relations
513-346-3433
[email protected]
