Heritage Capital Group is pleased to announce that its client, Coastal Construction Products, LLC, located in Jacksonville, FL, has partnered with Supply Chain Equity Partners of Tampa, FL.
Coastal Construction Products (“CCP”) is one of the largest independent distributors of caulking and sealants, waterproofing, and concrete restoration materials in the US, and has 14 locations throughout the southeastern United States. They also export to the Caribbean and Central America, and offers online purchasing options to its customer base. The company was founded in the 1970’s by William Harrell and Skip Allcorn in Jacksonville, Florida. The day-to-day management of CCP has been led by William’s son, Martin Harrell since 2012.
Supply Chain Equity Partners (“Supply Chain”) is the only private equity firm in the world that focuses exclusively on the distribution industry. Supply Chain acquires and invests solely in wholesale distributors and related logistics companies that are a critical link in the supply chain, regardless of sub-sector.
The shareholders of CCP have joined with Supply Chain as a financial partner to enable CCP to accelerate its growth and expand its geographical coverage in the construction products distribution space.
Heritage Capital Group served as intermediary and financial advisor to CCP, and the Heritage team included Dan Edelman, Don Wiggins, Howard Serkin, and Alex Kellison.
“Our industry is going through a period of consolidation,” stated Martin Harrell, “and we are uniquely positioned to be at the forefront in distributing specialty construction products. Our partnership with Supply Chain will provide us the capability and resources to continue and expand our leading position in our product space.”
Don Wiggins, President of Heritage Capital Group, said of the transaction, “Our goal was to help CCP’s owners explore all of their options, and choose the one that would result in the best outcome for CCP, its customers, and employees. That best option was clearly Supply Chain. All of the parties worked together to execute the transaction with minimal disruption to the business and its customers. We expect to see great things from this partnership in the future.”
Terms of the transaction were not disclosed.