A majority investment in Shearer Supply has been announced by Investcorp today
- ByStartupStory | April 12, 2023
“Shearer operates in a large, resilient and highly fragmented market driven by non-discretionary replacement demand and will continue to benefit from strong secular tailwinds including an aging housing stock, shortening replacement cycles and favorable regulation, in addition to its attractive Southern US geographic footprint. We are excited to partner with the Shearer family to drive organic growth and further expansion,” said Dave Tayeh, Head of Private Equity – North America at Investcorp. “We have experienced robust activity across our North American Private Equity platform this year, underscoring the strength of our strategy in partnering with growing, founder-led businesses as they look to scale their businesses.”
“Investcorp has an established history of working with companies like Shearer and have demonstrated a strong track record in HVAC and specialty distribution,” said Michelle Shearer-Rodriguez, CEO at Shearer Supply. “We are looking forward to partnering with them on our next phase of growth and leveraging their strong industry insights.”
“Shearer provides a compelling value proposition for both contractors and original equipment manufacturers, acting as a one-stop-shop local partner with a breadth of products, expertise and value-added services,” said Steve Miller, Managing Director, Private Equity – North America at Investcorp. “This is an impressive family-owned and run business that has differentiated itself in its ability to scale and grow in excess of the market throughout its history and we are thrilled to be partnering with the Company’s highly motivated management team.”
With investments such as Arrowhead, ATD, Berlin Packaging, and The Wrench Group, Investcorp has extensive experience in the HVAC industry and specialty distribution.
This announcement comes on the heels of the final closing of Investcorp North American Private Equity Fund I, L.P., which focuses on control buy-out investments in North American middle market service businesses. Fund I closed with capital commitments totaling more than $1.2 billion. The North America Private Equity group at Investcorp has been investing in North American mid-market businesses for over 40 years, has completed approximately 70 transactions, and has deployed more than $22 billion in transaction value since inception.
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