Audax Private Equity and Moelis Capital Partners (MCP) have completed the sale of Quest Construction Products (QCP) to Building Materials Corporation of America.
Upon closing, Audax and MCP will have fully exited their investments in Quest, following the sale of the Quest Automotive Products and Quest Industrial Products divisions to The Valspar Corporation earlier this year.
QCP manufactures and supplies roofing systems, coatings solutions, and protective pavement systems for the non-residential construction industry under the Hydro-Stop, United, and StreetBond brands. Since Audax’ and MCP’s initial investment in 2011, QCP completed two acquisitions, adding decorative asphalt coatings to its product offering and expanding QCP’s geographic presence into Europe.
Geoffrey S Rehner (pictured)t, Co-CEO of Audax Group, says: “We congratulate Doug Mattscheck and his team on successfully building QCP through two acquisitions, and expanding into new end markets and geographies. We have enjoyed partnering with Doug and Moelis Capital to execute our acquisition strategy.”
Kurt Larsen, Managing Partner of Moelis Capital Partners, says: “We applaud Doug and his team on their accomplishment and wish the entire organization continued success with GAF. We have appreciated working together with Doug and Audax to achieve our vision with Quest.”
Doug Mattscheck, CEO of Quest, says: “Both Audax and MCP have been great partners and resources in helping our team transform Quest into three strategic platforms through four acquisitions and investments in accelerating growth.”
Moelis & Company LLC and Piper Jaffray & Co advised Quest. Kirkland & Ellis LLP and Fredrikson & Byron, PA served as legal counsel to Quest.
