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Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to CityPost, a provider of cable railing systems for decks, patios and lofts used in residential renovation applications, on its acquisition by PrimeSource Brands, a North American provider of specialty branded residential building products backed by Clearlake Capital Group, L.P (“Clearlake”). Financial terms were not disclosed.
Based in Spokane Valley, WA, CityPost provides patented cable railing systems through multiple channels, including CityPost’s own website, wholesale distributors, and big box retailers. By acquiring CityPost, PrimeSource Brands bolsters its existing outdoor living product portfolio.
“Cascadia is thrilled to deliver such a fantastic outcome for CityPost and its owners” noted Naaman Heyman, Cascadia Managing Director. “CityPost’s patented solution continues to transform the way DIYers and contractors purchase and install residential cable railing systems. The Company’s rapid growth within the outdoor living category is reflective of its steadfast dedication to product innovation and the end-user experience. The alignment with PrimeSource’s supply chain, product portfolio, and sales channels make it the ideal partner to support the future growth of the CityPost brand.”
“We are thrilled to add CityPost to PrimeSource Brands’ portfolio,” said Tom Koos, CEO of PrimeSource Brands. “CityPost’s innovative cable railing system complements our existing RailFX and Ultra-Tec solutions and allows us to further advance our goal of becoming a leader in the outdoor living category.”
“Utilizing our O.P.S.® playbook, we continue finding exciting opportunities to partner with our PrimeSource Brands leadership team and expand our branded residential building products portfolio,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, of Clearlake. “The acquisition of CityPost furthers our strategy to accelerate growth at PrimeSource Brands through both organic and acquisition initiatives.”
“CityPost is excited to join forces with PrimeSource, leveraging its extensive scale and reach to continue innovating in proprietary outdoor building products and components. This partnership is expected to enhance our ability to deliver value to our customers and drive growth for both companies,” said Michael Mosback, Co-Founder and CEO of CityPost.
“Cascadia Capital played a pivotal role in guiding us through this transaction,” added Mosback. “Their deep industry expertise, thoughtful approach, and commitment to achieving an optimal outcome were invaluable in identifying the right partner and securing a successful result for CityPost.”
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This acquisition represents another successful transaction for Cascadia in the building products sector. Other recent transactions include:
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has been acquired by
a portfolio company of
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