Thorpe Products Company Has Acquired Certain Assets and Liabilities of IDS, Inc.
HOUSTON, July 19, 2011 — GulfStar Group (“GulfStar”) is pleased to announce the acquisition of certain assets and liabilities of Integrated Distribution Services, Inc. (“IDS” or the “Company”) by Thorpe Products Company (“Thorpe Products”), a portfolio company of The CapStreet Group (“CapStreet”). GulfStar initiated this transaction and served as exclusive financial advisor to Thorpe Products. The transaction closed on July 15, 2011.
IDS is a leading distributor and fabricator of industrial, commercial and mechanical insulation materials with branch locations in St. Louis, MO, Little Rock, AR and Memphis, TN. The Company’s products are predominately used in utilities, refineries, chemical and food processing plants, schools, hospitals, office and retail buildings, and a host of other facilities. The addition of IDS’ three branch locations significantly broadens Thorpe Products’ geographic reach, bringing its total number of branch locations to 10.
The GulfStar transaction team included Colt Luedde (Managing Director) and Brian Lobo (Vice President). “The acquisition of IDS strategically expands Thorpe Products’ geographic presence into the Southeast and Midwest regions,” said Colt Luedde. “We are pleased to have represented Thorpe Products on the acquisition of IDS and look forward to working together on future transactions that will allow Thorpe Products to achieve its strategic objectives.”
About Thorpe Products
Thorpe Products fabricates and distributes a comprehensive range of industrial insulation and related products to end-markets including the petrochemical, refining, utility and commercial construction industries. Thorpe Products has 10 branches are located in Houston, Texas; Dallas, Texas; Beaumont, Texas; Corpus Christi, Texas; Gonzalez, Louisiana; Lake Charles, Louisiana; Mobile, Alabama; St. Louis, Missouri; Little Rock, Arkansas; and Memphis, Tennessee.
About CapStreet Group
Founded in 1990, The CapStreet Group focuses on control investments in family-owned and other privately-held businesses headquartered in Texas and the Sunbelt states. Since inception, the firm has invested over $450 million in 29 portfolio company investments and has completed more than 250 add-on acquisitions for these companies. CapStreet exclusively invests in leveraged buyouts and recapitalizations and works intensively with the management of these companies to improve profitability, and then to accelerate growth organically and through accretive acquisitions. CapStreet targets companies with initial EBITDA between $5 million and $15 million operating in the following investment sectors: value-added manufacturing and distribution, business services, infrastructure, and energy-related products and services. The firm is headquartered in Houston, Texas, and managed by George Kelly, Mike Young, Neil Kallmeyer, Kathy Kohlmeyer, Paul De Lisi and Park Durrett. For more information, please visit http://www.capstreet.com.
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, Texas. The firm specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate financial advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 475 assignments across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.
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Securities offered through GulfStar Group I, an affiliated entity, member FINRA – SIPC.