Specialty Distribution Investment Banking

The Raymond James Specialty Distribution Investment Banking team is a middle-market advisor to leading value-added distribution businesses, both domestically and internationally. The team’s coverage spans multiple distribution verticals, with notable expertise in the industrial, construction, electrical, and flow/motion control products sectors. We pursue a heavily data-oriented approach to understanding and positioning trends within our clients’ distribution industries, as well applicable end-markets. In addition, the Specialty Distribution team provides business model expertise in collaboration with sector partners across the investment banking group. Through advising on some of the industry’s most high profile transactions, and active participation at industry events, the team has developed strong connectivity with the industry’s leading stakeholders. The Raymond James platform facilitates a full-service offering spanning sell-side and buy-side M&A, initial public offerings, and equity and debt securities offerings.

Specialty Distribution Subsector Expertise

 

  • Chemicals and adhesives
  • Construction products
  • Cutting and power tools
  • Electrical
  • Flow and motion control
  • HVACR, plumbing and PVF
  • Industrial and MRO
  • Material handling
  • Safety and jan-san

Specialty Distribution Insights

  • Specialty Distribution Insight

Senior Banking Team

Carl Gatenio Headshot
Carl Gatenio

Managing Director

Chicago

1.312.655.2615
 
Carl GatenioView Bio
Gareth Hughes Headshot
Gareth Hughes

Managing Director

St. Petersburg

1.727.567.5979
 
Gareth HughesView Bio
Russell Green
Russell Green

Managing Director

Vancouver

1.604.659.8323
 
Russell GreenView Bio
Alastair Rogers
Alastair Rogers

Managing Director

London

4.203.798.5744
 
Alastair RogersView Bio
Casey Brecher Headshot
Casey Brecher

Vice President

St. Petersburg

1.727.567.8647
 
Casey BrecherView Bio

Transaction History

May 2025 QXO Mandatory Convertible Preferred Offering Bookrunning Manager $575,000,000

May 2025

About QXO

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. 
May 2025 QXO Follow-On Offering Bookrunning Manager $920,000,000

May 2025

About QXO

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. 
February 2025 Animal Supply Co. has sold assets to Pet Food Experts portfolio company of Dot Family Holdings

February 2025

About Animal Supply Company

Animal Supply Company was one of the largest pet product distributors in the U.S., providing a wide breadth of pet food and supplies across the country.
January 2025 R&B Wholesale Distributors acquired by Platinum Equity Sellside Advisor

January 2025

About R&B Wholesale Distributors

R&B Wholesale Distributors is a market-leading distributor of appliances and serves as a critical intermediary between blue-chip appliance manufacturers and a highly diversified customer base in the Dealer, Builder, Property Management and Commercial channels. 
November 2024 Brava acquired by Golden Gate Capital Sellside Advisor

November 2024

About Brava Roof Tile

Brava Roof Tile is a leading manufacturer of high-performance, compression-molded roofing tiles that are created from recycled materials and deliver architecturally pleasing, durable and cost-competitive solutions to homeowners.
July 2024 LandTek Has been acquired by TenCate A portfolio company of Leonard Green & Partners

July 2024

About The LandTek Group

The LandTek Group is a leading provider of athletic field engineering, construction and project management services. Based in Bay Shore, NY, the Company has operations throughout the East Coast from New York to South Florida. 
October 2023 Decks & Docks Has been acquired by CCMP Growth Advisors

October 2023

About Decks and Docks Lumber Co

Decks & Docks, headquartered in Clearwater, FL, was founded in 1991 and acquired by the current ownership in 2005. The Company has served as a one-stop shop for composite decking, shoreline protection products and related accessories.
May 2023 $98,900,000 Follow-On Offering Bookrunning Manager

May 2023

About Tecnoglass

Tecnoglass Inc. is a producer of architectural glass, windows, and associated aluminum products serving the multi-family, single-family, and commercial end markets. 
April 2023 CNC Flow Control Advised the spin-off from Eriks A portfolio company of LKCM Headwater Investments

April 2023

About CNC Flow Control

CNC Flow Control is a master distributer of flow control products for industrial and oil & gas customers, with two in-house brands of valves (C&C and Force) imported from east Asia. 
April 2023 Rhino Tool House A portfolio company of Wincove Has been acquired by Blue Sea Capital

April 2023

About Rhino Tool House

The Rhino Tool House platform was created with the 2018 merger of Rhino Assembly, founded in 2000 by Dan Brooks and Leif Anderson, and The Tool House, founded in 1983 by Dave Wirth. 
October 2022 Trulite An affiliate of Sun Capital Has been acquired by Truelink Capital

October 2022

About Trulite

Headquartered in Peachtree City, GA, Trulite fabricates and distributes a full suite of customized tempered, laminated, insulated and decorative glass as well as architectural aluminum to a highly diversified base of over 6,000 customers.
September 2022 Blue Sea Capital Has acquired Prosource

September 2022

About Blue Sea Capital

Blue Sea Capital is a lower middle market private equity firm with over $750 million in committed capital that invests in companies in the aerospace & defense, healthcare and industrial sectors.
August 2022 NEFCO has been acquired by Bertram Capital

August 2022

About NEFCO

Founded in 1981 and based in Hartford, CT, NEFCO is a family-owned and operated construction supply company providing a broad range of products and services to a large variety of professional contractors.
October 2021 An affiliate of Sun Capital Partners, Inc. has acquired Select Interior Concepts

October 2021

About Sun Capital Partners Inc.

Sun Capital Partners, Inc. is a global private equity firm focused on partnering with management teams to accelerate value creation.
October 2021 Reeb Millwork Corporation has been acquired by SBP a portfolio company of The Jordan Company

October 2021

About Reeb Millwork Corporation

Headquartered in Bethlehem, Pennsylvania, Reeb is a market-leading, value-added fabricator and supplier of interior and exterior doors, providing highly customized products to a diversified customer base.
October 2021 Wood Fiber Group a portfolio company of multiple companies has been acquired by One Equity Partners

October 2021

About Wood Fiber Group

Wood Fiber Group is the market leading manufacturer and supplier of saws, knives, equipment and consumable supplies to the North American wood processing industry.
October 2021 HeathCo a portfolio company of Transom has been acquired by Globe a portfolio company of Novacap

October 2021

About HeathCo

Operating under the HeathZenith brand, HeathCo LLC is the leading provider of residential outdoor security lighting, door chime, and decorative lighting products.
September 2021 SteelCell has been acquired by Confidential

September 2021

About SteelCell

Based in Baldwin, GA, SteelCell engineers and manufactures prefabricated, steel modular units. SteelCell pioneered the use of polyurea coating technology, an extremely durable and non- hazardous coating perfectly suited for incarceration requirements and sustainable construction. 
May 2021 Diverzify has been recapitalized by ACON

May 2021

About Diverzify

Diverzify+ (“Diverzify” or the “Company”) is a leading national provider of facility services, including commercial flooring solutions and disinfecting and sanitization services. The Company operates in 49 states from 16 facilities, and has longstanding relationships with a diverse array of blue-chip customers in attractive end markets.
April 2021 Prime Window System gas been acquired by Cornerstone Building Brands

April 2021

About Prime Window Services

Headquartered in Denver, Colorado, Prime Window Systems serves residential new construction and repair and remodel markets with energy efficient vinyl window and door products. The Company has approximately 300 employees at manufacturing locations in Colorado and Washington.
March 2021 Custom Molded Products a portfolio company of Tenex has been acquired by Fluidra $245,000,000

March 2021

About Custom Molded Products

Custom Molded Products (“CMP”) is a leading supplier of innovative solutions for the recreational water industry with a strong portfolio of reputable brands such as DEL™, Brilliant Wonders®, SpaMASTER™ and Bobé Water & Fire.
February 2021 Merchants Metals a portfolio company of Atlas Holdings has been acquired by Fencing Supply Group a portfolio company of The Sterling Group

February 2021

About Merchants Metals

Merchants Metals LLC is a leading value-added distributor and fabricator of fencing products and accessories sold to contractors and retailers that serve the residential, commercial and industrial end markets.
February 2021 Collingwood Lighting a portfolio company of Baird Capital has been acquired by Ambienta

February 2021

About Collingwood Lighting

Collingwood is a market leading designer and supplier of energy-efficient LED luminaires for residential, landscape, commercial and light industrial applications in the UK and France, with a growing presence in other international markets.
November 2020 Gryphon Investors has acquired Vessco a portfolio company of O2 Investment Partners

November 2020

About Gryphon Investors

Gryphon Investors is a highly respected private equity firm with more than $2.5B in assets under management (AUM) focused on middle-market investment opportunities.
November 2020 Eastern Fence LLC has been acquired by Center Rock Leel Anau

November 2020

About Eastern Fence LLC

Eastern Wholesale Fence is a leading manufacturer and distributor of residential and commercial fence products.
August 2020 Griffon Corporations $172M follow-on offering bookrunning manager

August 2020

About Griffon Corporations

Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures.
July 2020 Turf Design has been acquired by Armstrong

July 2020

About Turf Design

Headquartered in Elgin, Illinois, TURF Design (“TURF”) is a leading designer and manufacturer of acoustic ceiling and wall products predominately utilized in commercial and office space applications.
June 2020 Construction Partners a portfolio company of Suntx capital partners $109,106,250 follow-on offering bookrunning manager

June 2020

About Construction Partners

Headquartered in Dothan, Alabama, Construction Partners, Inc. is a leading infrastructure company that specializes in the construction and maintenance of roadways across the Southeastern United States.
February 2020 OneWater Marine $63,692,316 Initial Public Offering Left Bookrunner

February 2020

About OneWater Marine

OneWater Marine is one of the largest and fastest-growing premium recreational boat retailers in the United States with 63 stores comprising 21 dealer groups in 11 states.
February 2020 NewSouth Window Solutions has been acquired by PGT

February 2020

About NewSouth Window Solutions

NewSouth Window Solutions is the only vertically-integrated supplier of vinyl replacement windows and doors throughout Florida.
September 2019 Foundation Building Materials a portfolio company of Lone Star Funds $80,750,000 follow-on offering co-manager

September 2019

About Foundation Building Materials

Founded in 2011, FBM is the one of the largest specialty distributors of wallboard, suspended ceiling systems and metal framing in the United States and Canada.
September 2019 Construction Partnersa portfolio company of SunTX capital Partners $71,250,000 follow-on offering bookrunning manager

September 2019

About Construction Partners

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 32 hot mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal.
March 2019 Technoglass $35,000,000 follow-on offering active bookrunner

March 2019

About Technoglass

Tecnoglass is a vertically integrated manufacturer, supplier and installer of architectural glass, windows and associated aluminum products for the global commercial and residential construction markets.
January 2019 Home Depot has divested Copperfield in a sale to Olympia a portfolio company of Argosy Private Equity

January 2019

About Home Depot

The Home Depot, Inc. is the world’s largest home improvement retailer, operating more than 2,200 stores across North America.
November 2018 Arrow Building Center a portfolio company of Aiglon Capital has been acquired by ACS portfolio company of Angeles Equity Partners and Clearlake Capital

November 2018

About Arrow Building Center

Arrow Building Center, headquartered in Stillwater, Minnesota, is a leading value-added distributor of residential and commercial building materials to home builders.
October 2018 Malibu Boats has acquired Pursuit

October 2018

About Malibu Boats

Malibu Boats, Inc. (NasdaqGM: MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats.
August 2018 MEA has been acquired by Adcuram

August 2018

About MEA

The MEA Group is an international group of companies with over 130 years of experience in the market, worldwide activities and production sites in France, the Czech Republic, Romania and China. Innovative products and solutions make the MEA Group one of the leading suppliers to the construction industry.
August 2018 PGT Innovations $315,000,000 senior notes co-manager

August 2018

About PGT Innovations

PGT Innovations, Inc. is the leading manufacturer and supplier of residential impact-resistant windows and doors in the United States, and a pioneer of the impact-resistant window and door industry.
June 2018 Master WoodCraft Cabinetry has been acquired by ACPI a portfolio company of American Industrial Partners

June 2018

About Master WoodCraft Cabinetry

Master WoodCraft Cabinetry, headquartered in Marshall, Texas, is a leading vertically-integrated designer, manufacturer and installer of kitchen & bath cabinets and countertops.
October 2017 American Insulated Glass has been acquired by AVCapital

October 2017

About American Insulated Glass

American Insulated Glass, headquartered in Conley, Georgia, is a leading custom fabricator and distributor of glass products to millwork and glazing contractors in the residential and commercial end-markets throughout the Southeastern United States.
September 2017 Beacon Roofing Supply a portfolio company of Clayton $345,503,125 follow-on offering co-manager

September 2017

About Beacon Roofing Supply

Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products.
June 2017 Carter Waters portfolio company of Merit Capital Partners and Aiglon Capital acquired by Construction Supply Group portfolio company of The Sterling Group

June 2017

About Carter Waters

Carter-Waters, headquartered in Kansas City, MO, is a distributor of construction materials and equipment utilized in concrete construction applications to commercial, highway and residential contractors.
June 2017 English Color and Supply, Inc. has been recapitalized by West View Capital Partners

June 2017

About English Color and Supply Inc.

English Color & Supply is a leading value-added distributor of automotive paint and body shop supplies in the Southern United States, with an established footprint in Texas, New Mexico, Oklahoma, Arkansas, Mississippi, Louisiana, Alabama, Tennessee and Florida.
June 2017 GMS a portfolio company of AEA $189,750,000 follow-on offering co-manager

June 2017

About GMS

GMS is the leading North American distributor of wallboard, ceilings and complementary interior construction products. Its core customers are interior contractors who install the Company’s products in non-residential and residential buildings.
February 2017 Gypsum Management and Supply Inc a portfolio company of AEA $233,780,625 follow-on offering co-manager

February 2017

About Gypsum Management and Supply Inc.

GMS is the leading North American distributor of wallboard, ceilings and complementary interior construction products. Its core customers are interior contractors who install the Company’s products in non-residential and residential buildings.
February 2017 Foundation Building Materials a portfolio company of Lone Star Funds $206,080,000 initial public offering co-manager

February 2017

About Foundation Building Materials

Foundation Building Materials is a specialty distributor of wallboard and suspended ceiling systems throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 200 branches across the U.S. and Canada.

Transaction history may include transactions completed by a Raymond James banker while at a former firm.

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