United Subcontractors, Inc. (“USI”) is the nation’s second-largest installer of insulation in new residential and commercial construction, with 50 branches across 17 states. When the owners wanted to take some of their equity out of the business and bring in new capital to fuel on-going growth, they retained the founders of SLATE to help them.
USI’s owners were seeking a targeted valuation range and were sensitive to maintaining the company’s culture post-closing. The founders of SLATE worked closely with USI to explore various strategic alternatives and prospective acquirers over a period of several years, eventually negotiating a successful closing with Chicago-based private equity fund Wind Point Partners.
Wind Point was attracted to USI’s industry-leading market position and unique relationship with the top 20 US homebuilders. Combined, these allowed USI to grow at rates significantly above industry standards while maintaining strong margins.
Given the volatile nature of the residential housing market at the time of the sale, the founders of SLATE applied their building materials and services industry expertise to help Wind Point assess the industry and ultimately gain sufficient comfort to close the acquisition.
