Distribution International, Inc. (“DI”), the leading distributor and
fabricator in the mechanical insulation market and portfolio company of
Advent International, today announced its wholly owned Canadian
subsidiary, Crossroads C&I Distributors, Inc., (“Crossroads”), has
acquired certain assets of Frost Insulation Supplies, Inc. (“Frost”).
Located in Surrey, British Columbia, Frost provides mechanical
insulation and related supplies to some of Western Canada’s largest
specialty insulation and HVAC contractors. Financial terms of the
transaction were not disclosed.
“This acquisition aligns perfectly with our strategy of accelerating
growth by continuing to consolidate our core mechanical insulation
market in North America,” said Steve Margolius, DI’s CEO. “We are
excited to support the Crossroads team and expand our presence in one of
our strongest markets.”
Korey Haun, President of Crossroads C&I, said, “We are thrilled to
partner with the Frost team and look forward to providing our combined
customers with the highest quality products and service in the industry.”
Chris Ceraldi, President of Frost Insulation Supplies, Inc. added “We
are excited to be partnering with Canada’s leading mechanical insulation
distributor. Crossroads, with its superior customer service and
technical support, is a perfect fit with Frost’s core values.”
Mergers and acquisitions are an important element of DI’s growth
strategy. Since December 2011, DI has completed 21 acquisitions in the
mechanical insulation market, expanding its geographic presence across
the U.S. and Canada and broadening its product and service offerings.
About Distribution International (DI)
Founded in 1986, DI is a value-added distributor of insulation-related
specialty fabricated products, HVAC products, and safety supplies in
North America. The Houston-based company has over 80 locations and
provides its customers with mission-critical products and services
across the commercial building, chemicals, energy, power, railcar and
marine end markets. The company has the broadest reach of any
distributor of mechanical insulation products in the U.S. and Canada.
For more information, visit www.distributioninternational.com
About Advent International
Founded in 1984, Advent International is one of the largest and most
experienced global private equity investors. The firm has invested in
over 335 private equity transactions in 41 countries and as of March 31,
2018, had $41 billion in assets under management. With offices on four
continents, Advent has established a globally integrated team of over
190 investment professionals across North America, Europe, Latin America
and Asia. The firm focuses on investments in five core sectors,
including business and financial services; healthcare; industrial;
retail, consumer and leisure; and technology, media and telecom. After
more than 30 years dedicated to international investing, Advent remains
committed to partnering with management teams to deliver sustained
revenue and earnings growth for its portfolio companies.
For more information, visit www.adventinternational.com.
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