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A.H. Harris Enters into Definitive Agreement with HD Supply

A.H. Harris Construction Supplies, a leading distributor of specialty construction products, announced today that it has entered into a definitive agreement with HD Supply Holdings, Inc. (Nasdaq: HDS), one of the largest industrial distributors in North America.  The transaction is expected to close in the first quarter of 2018, upon the satisfaction of customary closing conditions, including the obtainment of required regulatory approvals.

Founded in 1916, A.H. Harris supplies high-quality construction products and equipment for contractors, construction companies and government entities in the concrete construction, repair & restoration, road & bridge, rebar & rebar fabrication, waterproofing and glazing markets. The company represents more than 500 manufacturers and 13,000 products and consists of 600+ experienced associates and 50+ convenient locations serving 14 states.  

Recapitalized by Frontenac in 2015, A.H. Harris has since achieved strong organic growth and completed the transformational acquisition of Kenseal Construction Products, a family-owned leading distributor of infrastructure, waterproofing, glass and glazing, air and vapor barriers, concrete repair and masonry products. Together with Kenseal, A.H. Harris has earned a clear leadership role in its industry by providing cutting-edge solutions and superior customer service.

“I am proud of the growth in scale, capabilities and talent that A.H. Harris has achieved in collaboration with Frontenac,” said Brendan Deely, President and CEO of A.H. Harris. “Our management team and associates are excited about the strong trajectory of the company and the opportunity to continue to grow with the support of HD Supply.”

“We believe the partnership with A.H. Harris and HD Supply to be a great fit,” said Ken Pfrommer, Senior Vice President of Sales, A.H. Harris. “Together we can expand our network of leading products and increase our geographical footprint to better service our customers. We are excited about the substantial opportunities presented by this partnership.”

“We are committed to investing in our business to continue to enhance our offering and customer experience,” said John Stegeman, President, HD Supply Construction & Industrial – White Cap. “The strategic addition of A.H. Harris perfectly aligns with our One Team culture and our commitment to provide the best mix of products, value-added services and expert solutions for our customers across our priority local markets.”

Michael Langdon, Managing Director of Frontenac, added, “Frontenac has greatly enjoyed partnering with the A.H. Harris team in transforming its business.  We have meaningfully increased the scale of the company’s leadership team and expanded the company’s product portfolio and end markets through organic growth and acquisition.  All of these contributed to a near doubling of revenue in just 2 ½ years.  A.H. Harris remains strongly positioned for continued growth to further support its customers’ needs.  We are confident that this partnership will continue its commitment to growth and customer service under new ownership and leadership from HD Supply."

Houlihan Lokey and Lincoln International acted as financial advisors to A.H. Harris with respect to the transaction. Kirkland & Ellis served as legal counsel to the Company.  King & Spalding served as legal counsel to HD Supply.



About A.H. Harris

A.H. Harris distributes building products and equipment to the heavy & highway, commercial, industrial and residential construction markets. A.H. Harris has a special focus on concrete construction and repair, fabricated rebar, forming and shoring sales and rentals, masonry, flashing, precast concrete accessories, site work, thermal and moisture protection, tilt-up accessories, and tools and safety products. The company also features a rebar fabricating division, HarMac Rebar and Steel and division 7, Kenseal Construction Products. A.H. Harris has become a leader in the construction industry with 50+ locations and access to 13,000+ products. For more information, visit www.ahharris.com.

About Frontenac

Frontenac is a leading private equity firm, based in Chicago. The firm focuses on investing in lower middle market buyout transactions in the food, industrial, and services industries. Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with over 225 owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.

About HD Supply

HD Supply is one of the largest industrial distributors in North America. The company provides a broad range of products and value-add services to approximately 500,000 customers with leadership positions in maintenance, repair and operations and residential and non-residential construction sectors. Our leading businesses include HD Supply Facilities Maintenance and HD Supply Construction & Industrial - White Cap. For more information, please visit www.hdsupply.com.

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