Promus Equity Partners and Jon S. Vesely Announce Associated Steel Group, LLC’s Acquisition of AIM Metals, LLC
Chicago, Illinois, February 13, 2013 – Promus Equity Partners, LLC (“Promus”), headquartered in Chicago, IL, in partnership with Jon Vesely, an independent sponsor, are pleased to announce the acquisition of AIM Metals, LLC (“AIM”, formerly Architectural Integrated Metals, Inc.). The company was acquired through Associated Steel Group, LLC (“ASG”), an entity formed for the purpose of consolidating the metal building industry, an effort that began in August 2012 with Mississippi-based ACI Building Systems, LLC (“ACI”).
Led by President Stuart Webb, AIM is a manufacturer of metal roofs and related wall products, primarily serving the Southeastern United States. The Company operates out of a 192,000 square foot facility in Columbus, Georgia and serves customers in a variety of non-residential end-markets such as churches, schools, industrial structures, warehouses and office buildings. Tim Ritchie, CEO and President of ASG commented, “AIM’s manufacturing expertise in metal roofs and its exposure to attractive geographic markets greatly complements ACI. Together, we believe ASG is a world-class metal building and roofing systems business that is uniquely positioned to benefit from a recovery in the non-residential industry.”
SunTrust Bank provided a senior credit facility. Terms of the investment were not disclosed.
For more information on this acquisition, please contact Steve Brown or David Code.
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