AHI Supply Has Completed a Majority Recapitalization With High Street Capital

HOUSTON, December 19, 2024 – GulfStar Group (“GulfStar”) is pleased to announce the majority recapitalization of AHI Supply Holdings, LLC (“AHI” or the “Company”), a holding company of Omnitex, L.P., by High Street Capital (“HSC”). GulfStar served as the exclusive financial advisor to AHI throughout the transaction, which closed on December 5, 2024.

Founded in 1982 by Bob Allen and led by Chris Sellers and Mike Hill, AHI is a leading manufacturer and distributor of quality masonry and related construction products for the Texas market, selling both directly to customers and through third-party building products distributors. The Company is headquartered in Alvin, Texas with additional locations in the Austin and Dallas-Fort Worth markets. AHI manufactures a variety of proprietary products, including Portland and masonry cements, brick cleaners, stucco coatings and cast stone, as well as performing a wide array of structural iron processing services. Manufactured products are sold under the Spectrum and Tex-Clean brands. AHI Supply serves single-family residential, multi-family residential and commercial markets.

“GulfStar did an outstanding job for us at every step in this journey,” said Chris Sellers, AHI CEO. “From the overview of the process at our first meeting to the closing call, the expertise and experience that GulfStar brought to the table was invaluable. I always felt Bryan Frederickson and Charlie Craig went out of their way to look at things from my viewpoint. They took the time to not only get to know our business but also us as individuals and how we feel about the company we have built. This approach is a vital part of what GulfStar does and will help facilitate a smooth transition to our future with High Street Capital by lining up two organizations that share the same values, ethics, and ambition to take AHI Supply into our next phase of growth.”

HSC is a Chicago-based private equity firm specializing in middle-market investments. HSC is currently investing out of its sixth fund, a $247.5 million vehicle that closed in July 2024. It targets private businesses in the niche manufacturing, business services, and value-added distribution sectors with EBITDA of $3.0 to $15.0 million. The primary HSC deal team for the AHI transaction included Principal Blake Bartolomei, Partner Tim Kurth and Senior Associate Steven McCutcheon.

”GulfStar very much appreciated the opportunity to work with a best-in-class company like AHI, and is pleased to have found a promising partner in High Street Capital,” said Bryan Frederickson, GulfStar Managing Director. “This recap completes the transition of ownership from AHI’s founder to the current management team while providing the support needed to continue growing the business.”

The GulfStar team was led by Managing Directors Bryan Frederickson and Charles Craig with support from Associate Billy Conner and Analyst Stephen Harrigan. Porter Hedges provided transaction counsel and Calvetti Ferguson provided accounting services to AHI.

About GulfStar Group
GulfStar is one of the leading middle market investment banking firms in the United States, with a proven track record of delivering exceptional results in merger and acquisition, private placement and strategic advisory services. We advise private business owners and corporate clients with revenues ranging from $25 million to $350+ million across a variety of key industry sectors. Founded in 1990, GulfStar has completed more than 750 transactions in 38 states and 18 foreign countries. AHI represents yet another successful outcome for GulfStar clients operating in the building products and contracting industries.