DENVER – SLATE Partners (SLATE) announced today that its Principals advised CPS Distributors, Inc. (CPS), a portfolio company of Gen Cap America, on its sale to SRS Distribution (SRS), a portfolio company of Leonard Green & Partners.
Founded in 1890 and headquartered in the Denver suburb of Westminster, Colorado, CPS is the largest wholesale distributor of irrigation and landscape supplies in the Rocky Mountain region. The Company serves landscape and irrigation contractors, municipalities, pump and well contractors, and more through 13 strategically located branches in Colorado and Wyoming. The Company distributes over 10,000 products from leading manufacturers, including brands found exclusively at CPS yards. In addition to product distribution, CPS offers customers value-added services, such as training, product technical support, and consultative business solutions, which are unique amongst its competitors. The Company’s products are used in new construction and repair and replacement applications.
“It was so much fun working with the management team at CPS. They treat each other and everyone in the firm like family. That commitment to one another translates to how they treat their customers and has resulted in their market dominance in Colorado for over one hundred years. SRS prioritizes making acquisitions of companies with great cultures; they found one of the best at CPS,” remarked Aaron Bachik, co-founder and Managing Partner of SLATE.
Matt Lane, Managing Director at Gen Cap America, commented, “It was important to us to identify an investment bank that thoroughly understood the landscaping materials distribution industry and was familiar with the strategic acquirers and private equity funds most interested in the sector. SLATE Partners was the perfect fit for this and they did a great job. Our process was professional, efficient, and we had an outstanding result.”
CPS Distributors received legal counsel from Bass Berry & Sims, PLC.
