PrimeSource Brands Expands Portfolio with Acquisition of Cobra Anchors
PrimeSource Brands has expanded its portfolio of specialty building products with the acquisition of Cobra Anchors, a manufacturer of branded hollow-wall, universal, and masonry anchors.
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It is the fifth acquisition made by PrimeSource Brands since partnering with Clearlake Capital Group, in December 2020. Financial terms of the transaction were not disclosed.
Based in Montreal, Quebec, Canada, Cobra offers a portfolio of over 1,000 SKUs focused on hollow-wall, universal, and masonry anchors. The combination with Cobra expands PrimeSource Brands' reach into the home center, lumberyard, and specialty retail channels.
"We are thrilled to add Cobra to the PrimeSource portfolio,” said Tom Koos, CEO of PrimeSource. “The Cobra team has built a terrific catalog of proprietary products that fit well with our existing platform.”
He noted that along with PrimeSource Building Products, Dimora Brands, Nationwide, Wolf, and Axxis, Cobra continues the company's efforts to build the branded specialty building products platform with the largest sales and service capabilities in the industry.
“We believe our depth of catalog combined with our customer reach gives us an advantage, and we are confident that our increased national scale will enable us to grow this business at an accelerated pace,” Koos said.
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Operating a national footprint with 56 distribution centers, PrimeSource Brands is a link in the residential building products supply chain, serving as the 'one-stop-shop' for specialty building products ranging from construction fasteners and building materials to specialty home hardware.
PrimeSource Brands owns a portfolio of branded products including Grip-Rite, Pro-Twist, Top Knobs, Hardware Resources, Atlas Homewares, North Pointe Cabinets, and Wolf Home Products among others across several categories including construction fasteners, cabinets and cabinet hardware, lighting and plumbing, and outdoor building materials. These products are delivered daily across multiple channels including national home improvement retailers, lumberyards, building products dealers, and specialty showrooms.
"In partnership with the PrimeSource Brands team, we continue to deploy our O.P.S playbook to capitalize on the company's footprint and logistics network and channel reach by expanding the branded product portfolio across residential building product applications,” said José E. Feliciano, co-founder and managing partner, and Colin Leonard, partner, of Clearlake. "We look forward to continuing our exciting growth trajectory with organic and acquisition initiatives going forward."
Deloitte Corporate Finance LLC functioned as the exclusive financial advisor to Cobra and its shareholders.
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