Arrow Building Center's locations
Arrow Building Center's locations

Consolidated Lumber Co., a 16-branch dealer that operates in Minnesota and Wisconsin as Arrow Building Center (ABC-CLC), has been sold to private equity firm Aiglon Capital Management, according to an announcement issued today by Prairie Capital Advisors. Terms of the deal weren't revealed.

The acquisition of Stillwater, Minn.-based ABC-CLC represents yet another ownership change in the Twin Cities and adjacent Wisconsin markets. Earlier this summer, Builders FirstSource took over ProBuild, which has two dozen facilities in Minnesota and Wisconsin. In March, US LBM, the fast-growing holding company that is 2015's ProSales Dealer of the Year, announced its acquisition of Lampert Lumber, the No. 32 company on the ProSales 100US LBM already owned Lyman Lumber, another Twin Cities firm. And also in March, ABC Supply, the largest LBM dealer in the U.S., acquired Western Roofing Supply, a roofing distributor in Minneapolis that became ABC's fifth branch in the Twin Cities metro area.

"Consolidated's broad product mix and service offerings enable it to reach a diverse customer base of professional contractors," Prairie Capital's news release said. "The company's excellent customer service, superior and customizable product lines, and centralized distribution capabilities have made it a preferred brand in its markets."

Prairie described Aiglon as an investor "focused on the acquisition and growth of lower middle-market businesses." Its only other investments at the moment are in a distributor of construction materials and equipment utilized in concrete construction and a manufacturer of medical devices.

“We are thrilled to be working with the team at Consolidated," Prairie quoted Richard Griffin, an Aiglon managing partner, as saying. "The combination of dedicated people, disciplined processes, and noteworthy technology is impressive. The company routinely exceeds the expectations of its customers, and we are committed to continuing its success and facilitating its expansion."