CUMMING, Ga. — Atlantic Squared Supply LLC ("Atlantic Squared") has announced the successful acquisition of Metal Roofing Systems, LLC and Metal Roofing Systems & Supply, LLC (collectively, "MRS") with financing provided by TCW Asset Management Company LLC ("TCW") and PNC Bank, N.A., ("PNC"). Legacy FocalPoint, now B. Riley Securities ("B. Riley"), served as co-advisor to Atlantic Squared on the transaction, along with Statesman Business Advisors.
Atlantic Squared is a leading building materials wholesaler, distributing a comprehensive suite of products to customers across the southern United States. Founded in 1974, the company's two original branches were acquired in 2019 by an experienced management team that rapidly grew the footprint through a series of acquisitions and greenfield expansions to include more than 20 branches across eight states. The acquisition of MRS, a commercial and residential metal roofing manufacturer, creates one of the largest independent pure-play roofing distributors in the United States.
"The [B. Riley] team, having developed a comprehensive understanding of our business and our partners, worked hand in glove with our management team to arrange the optimal capitalization structure for the next stage of our development. We are delighted to continue our relationship with TCW and PNC," said Tim Perryman, CEO at Atlantic Squared.
"The continued success of Atlantic Squared's management team in expanding the company's footprint enabled us to enlarge the credit facility in spite of volatile capital market conditions and to position the company for its next stage of growth," added Michael Brill, Managing Director at B. Riley.
About Atlantic Squared Supply LLC
Atlantic Squared Supply LLC was created through the acquisitions of Carolina Atlantic Roofing Supply, Mid-Atlantic Roofing Supply, and GLM Landscape Supply. Founded in 1974, Carolina Atlantic Roofing Supply is a two-step wholesaler working exclusively with established building supply retailers. The company has continued to expand its service offerings through a combination of acquisitions and greenfield expansions. The solid foundation, commitment to excellence in customer service, and a strong desire to see customers grow their business is propelling the company towards a bright and exciting future. For more information, visit www.atlanticsquared.com.
About TCW Asset Management Company LLC
TCW Asset Management Company LLC specializes in providing senior-secured loans to middle market borrowers across a wide spectrum of industries. The group partners with business owners, management teams, financial intermediaries, and asset-based lenders to arrange customized financing solutions. The group has extensive experience working with both private equity sponsored and non-sponsored companies, including family-owned businesses, small-cap public companies, employee-owned firms and other non-traditionally owned businesses. TCW Direct Lending takes a highly individualized and creative structuring approach to address the unique challenges and opportunities of each transaction. To learn more, visit www.tcw.com.
About PNC Bank, N.A.
PNC Business Credit is the business operated by PNC Bank, N.A. as its asset-based lending arm. Headquartered in New York with offices nationwide, PNC Business Credit is an asset-based lending service, with more than $10 billion in commitments. PNC Business Credit specializes in providing secured financing to middle market companies in the manufacturing, wholesale, distribution, retailing, and service industries, many of which have substantial overseas operations. PNC Business Credit enables clients to leverage the value of their assets and cash flow to achieve both short- and long-term goals, including working capital growth, mergers and acquisitions, recapitalizations and restructurings, and turnarounds. For more information, visit www.pnc.com.
B. Riley Securities is a leading investment bank that provides a full
suite of investment banking, corporate finance, advisory, research, and
sales and trading services. Investment banking services include
initial, secondary, and follow-on offerings, institutional private
placements, merger and acquisition (M&A) advisory, SPACs, corporate
restructuring, and recapitalization. The firm is nationally recognized
and highly ranked for its proprietary small-cap equity research. B.
Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit www.brileysecurities.com.
Please contact Michael Brill, Managing Director, at (646) 343-9848, or Clinton Miyazono, Director, at (312) 508-5782 for more information regarding this transaction.