Construction Resources Acquired by Mill Point Capital
Leading construction and design company to continue expansion plans
ATLANTA, July 18, 2022 (Newswire.com) - Construction Resources, LLC, (CR), a 52-year-old Atlanta-based company, has recently been acquired by an investment group, Mill Point Capital. The goal is to support the business's strategic growth plans, including geographical expansion via green fielding and acquisition in its core product categories. Over the past decade, CR has expanded its service area, product categories, and offerings to better serve its customers, and with the Mill Point partnership, will continue to focus on growth initiatives providing enhanced opportunities to CR employees across the U.S. through their legacy brands and locations.
"Our company has always believed in developing our team and fostering relationships while we provide the best possible solutions and products to our residential, multi-family, fabricator, and commercial customers. As part of International Designs Group and Mill Point Capital, we plan to continue our mission of being a loyal partner to our customers and vendors, creating job opportunities, and working with our 750 employees across 30-plus locations," Mitch Hires, CEO of Construction Resources, said.
In late 2015, Construction Resources was acquired by Monomoy Capital Partners and continued further strengthening the company's footprint and product offering. In 2019, CR acquired United Materials, Inc., helping expand its product and geographic reach. Throughout the Monomoy hold period, they have significantly expanded their construction and design influence in the southeastern part of the United States, as well as integrated and professionalized the business.
Through growth and expansion, CR has always maintained its brand legacy and relationship value with its associates and customers and plans to continue operating under the same model. While the Company has grown over the years, its leadership team and focus have been consistent. CR is pleased to report its entire Senior Leadership Team will be moving forward with Mill Point post transaction.
"Mitch and his team have built a special platform in Construction Resources. The growth opportunities in front of the Company are exceptional, and we are thrilled to be bringing CR into the International Designs family," added Rick Bennet, Mill Point Executive Partner and Executive Chairman of the Board. "We've been extremely impressed by the entire CR team, and the excellent foundation they have built. We're excited to partner with Mitch and the rest of the CR team to continue growing the International Designs platform and pursuing the numerous opportunities ahead," said Michael Duran, Founder and Managing Partner of Mill Point.
About Construction Resources
For 50+ years, CR has provided residential and commercial builders and remodelers, as well as homeowners, with a one-stop shop for their surface, appliance, and architectural specialty needs. Construction Resources offers an array of high-quality proprietary and sought-after blue-chip brands for builders and homeowners. The company is headquartered in Atlanta, Georgia, with showrooms, surface galleries, and design centers located regionally. For more information, please visit www.constructionresourcesusa.com.
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in middle market companies in North America across the business services, IT services, and industrial sectors. Mill Point's experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
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Source: Construction Resources CR