American Construction Source (“ACS”), a leading national building materials distribution platform for custom home builders and repair and remodel contractors, backed by Angeles Equity Partners, LLC (“Angeles”) and Clearlake Capital Group, L.P. (together with its affiliates “Clearlake”), today announced the acquisition of Foley Lumber (“Foley”) and Milaca Building Center (“Milaca”). Foley and Milaca will operate under their existing local brand names already established in Minnesota. The transaction marks the ninth acquisition by ACS under sponsorship from Clearlake and Angeles.
“The ACS team welcomes Foley and Milaca to our national platform of service-oriented lumber and building materials locations,” said James Drexinger, CEO of ACS. “The Kotsmith family has built a great business over generations, and we respect the customer relationships they have fostered for the last 90 years.”
Source: Business Wire
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