An affiliate of Sun Capital Partners (Sun Capital), a private investment firm focused on defensible businesses in growing markets with tangible improvement opportunities, has completed the acquisition of Select Interior Concepts (SIC), an importer and distributor of natural stone, engineered stone and tile for residential and commercial applications.
Upon completion of the transaction, the Company has changed its name to Architectural Surfaces Group (ASG or the Company).
With legacy companies founded in 1992 and headquartered in Austin, Tex, ASG is a premier, value-added distributor of interior building products with positions in highly attractive markets. The Company services its customers through a national network of 22 distribution centers and operates 20 showrooms selling proprietary brand names including PentalQuartz and MetroQuartz, delivering a premier customer experience.
“This investment plays to many of Sun Capital’s strengths, including success in the building products sector across multiple economic cycles,” says Marc Leder, Co-Chief Executive Officer of Sun Capital. “With our support, ASG will be better able to capitalise on a significant market opportunity.”
“ASG is excited to have an experienced partner focused on growth in Sun Capital,” says Patrick Dussinger, who was named CEO of the newly-independent business. “We will continue to execute our successful plan and make strategic acquisitions that will expand our market. Being a private company will allow us to accelerate value creation and we are very excited about the future.”
ASG plays a dual role as both a value-added distributor and a direct to customer/designer showroom, connecting global slab suppliers with thousands of end customers in a highly fragmented, localised market for both remodelling and new construction projects.
“It is an exciting time to begin working with Architectural Surfaces Group,” adds Jeremy Stone, Managing Director at Sun Capital. “The residential and remodeling sub-sectors of the building products market are growing rapidly, in light of significant undersupply in housing. The wholesale slab market in particular is expected to experience continued growth over the next few years. We also see opportunities for tangible performance improvements to strengthen the business, including greater digitisation, sales force enhancement, and consolidation in this highly fragmented market.”
