Outdoor Living Supply Acquires C&R Stone World Inc., Stoneworld Utah L.L.C. and Cedar Stone Supply, Inc.
Outdoor Living Supply ("OLS"), a distribution platform for outdoor living products with a focus on hardscapes, announced today the acquisition of C&R Stone World Inc., Stoneworld Utah L.L.C. and Cedar Stone Supply, Inc. (collectively, "Stoneworld" or "the Company"), full-service distributors of natural stone, masonry, hardscape and landscape supplies. This acquisition expands OLS' footprint in the Mountain states, adding five strategic locations in Utah and Idaho.
Headquartered in Mapleton, Utah, Stoneworld was founded by Rhett Robison in 2003. In subsequent years, Robison, together with Kolby Sawyer, Cody Petersen and Beau Brady, leveraged their strong customer base and generated regional growth via the addition of new locations in Utah and Idaho. Over its 20-year history, Stoneworld has grown into a leading independent distributor thanks to its quality products, operational expertise and focus on providing the highest level of customer service. Going forward, the existing management team will continue with the business, ensuring continuity and consistency for employees, customers and supplier partners.
"We are delighted to welcome the Stoneworld team to the OLS family of companies," commented Brian Price, CEO of OLS. "Rhett, Kolby, Cody and Beau have built an exceptional team and reputation in this dynamic market, that includes Salt Lake City. There are many obvious product synergies and opportunities for our platform to accelerate growth, and we are excited by the potential of what we can accomlish together."
"We decided to partner with OLS based on their unique business model and reputation for taking care of their people. I am very proud of the culture we have built and grateful to have found a partner in OLS who is committed to preserving our legacy and supporting our team as we embark on this next chapter of growth," added Rhett Robison, owner of Stoneworld. "We look forward to the extensive opportunities OLS will provide our employees and customers, alike."
Faegre Drinker Biddle & Reath LLP served as legal advisor to OLS.
About Outdoor Living Supply
Outdoor Living Supply is a distribution platform for outdoor living products with a specific, differentiated focus on hardscapes. OLS seeks to partner with family- and founder-led companies with shared values and local heritage. By leveraging deep industry relationships, OLS supports its companies' growth both organically and through strategic acquisitions while providing the products, resources, technology, and training to enhance the customer experience and create new opportunities for its employees. Outdoor Living Supply launched in partnership with Trilantic North America in late 2020, which invested in the platform to support its growth across key verticals including: hardscapes; outdoor living; landscape accessories; outdoor lighting; and bulk materials.
For more information, visit www.outdoorlivingsupply.net.
About Trilantic North America
Trilantic Capital Management L.P. ("Trilantic North America") is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America's primary investment focus is in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.9 billion. For more information, visit www.trilanticnorthamerica.com.
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