AG&M Gets Private Equity Investment
DALLAS — Private-equity firm Trive Capital recently announced its investment in, and partnership with, Architectural Granite & Marble Ltd. (AG&M) of Spicewood, Texas.
The two companies completed the deal in late June. No financial terms were disclosed.
Founded in 1992, AG&M imports and distributes natural stone, engineered stone, and related products used in residential construction, commercial construction, and remodeling. From its five locations across the United States, AG&M serves a national customer base, sourcing materials from around the world while ensuring high quality through a network of material inspection professionals overseas.
“We are excited to partner with a highly capable AG&M management team that has a very successful history of executing a differentiated strategy in the stone distribution segment,” said Conner Searcy, Trive managing partner. “Given Trive’s extensive experience in the building-products sector and our hands-on approach to portfolio company operations, we are uniquely suited to support the continued expansion of AG&M.”
Based in Dallas, Trive focuses on making control private-equity investments in companies based in the United States and Canada. Trive is currently investing from a $300 million institutional fund raised in 2013.
Other companies in Trive’s portfolio include Madison-Kipp Corp, a Madison, Wis.-based manufacturer of cast and machined components for the auto and motorcycle industry; and Residential Design Surfaces (RDS), offering sales, manufacturing and installation for interior surface products in Anaheim, Calif. Earlier this year, RDS expanded its operations by acquiring Pinnacle Stone and Tile in Fairfield, Calif.
AG&M President/Founder Jack Seiders said that, “Trive’s unique approach and genuine desire to understand our business and help us grow clearly differentiated them from other financial partners. AG&M has always been a relationship-focused company, and we feel Trive is a great fit given their similar orientation.
“Throughout the process, Trive provided us with considerable resources and demonstrated an open and honest approach that has the entire AG&M team very excited about a successful future together.”
Chad Seiders, National Sales Manager at AG&M, added, “AG&M’s business model revolves around delivering exceptional service levels to our customers. With Trive’s financial backing and operational expertise, we can expand into new locations and broaden our product offering to better meet the needs of our customers.”
Trive Vice President Dan Lenahan noted, “Trive is proud to partner with AG&M to pursue a multitude of exciting value creation initiatives in front of the Company. The collaborative dynamic struck between AG&M and Trive gives us the opportunity to continue to improve daily operations, successfully execute a well-rounded growth strategy, and unlock the company’s full potential.”
Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition AG&M by Trive.
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