Nevada Drywall Stucco & Stone Has Completed a Majority Recapitalization With Crescendo Capital Partners
HOUSTON, October 2, 2023 – GulfStar Group ("GulfStar") is pleased to announce the majority recapitalization of Nevada Drywall Stucco & Stone Inc. (“NDSS” or the “Company”) with Crescendo Capital Partners, LLC (“Crescendo”). Stonehenge Capital Company, LLC provided senior debt and equity co-investment in support of the transaction. GulfStar served as the exclusive financial advisor to NDSS throughout the transaction, which closed on September 15, 2023.
Founded in 2009 and based in Reno, Nevada, NDSS is the largest installer of drywall, stucco and stone materials for contractors serving the multifamily residential, commercial and housing markets in western Nevada and eastern California. The principals of NDSS will retain equity positions in the business and will continue in their leadership roles.
“Bryan Frederickson and his incredible team at GulfStar are true professionals and were instrumental in helping us navigate the challenges associated with closing our sale,” said Marc Garrick, co-owner of NDSS. “They provided advice on every facet, including preparing marketing materials and providing guidance on accounting, budgeting and legal. They kept both buyer and seller on task and moving forward. We could not have done it without them.”
Crescendo invests in middle-market companies and has a particular expertise in the construction trades, as well as investing in facilities maintenance and other business services segments. Crescendo has made approximately 15 acquisitions totaling more than $500 million (including add-ons). Crescendo has eight investment professionals in four offices, supported by four operating professionals.
“We appreciated the opportunity to work with NDSS on this transaction,” said Bryan Frederickson, managing director of GulfStar. “The partnership with Crescendo positions the Company to leverage its scale and depth of management into a healthy platform for both organic and acquisition-driven growth. We are pleased to have delivered a successful outcome for our clients, with a group possessing the expertise to support NDSS in achieving the next level.”
The GulfStar team was led by Managing Director Bryan Frederickson with support from Senior Vice President Alex Pette, Associate Gaddis House and Analyst Billy Conner. Maupin, Cox & Legoy served as legal counsel to NDSS while Eide Bailly provided accounting and tax advice.
For more information, please contact Bryan Frederickson at bfrederickson@gulfstargroup.com.
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and strategic advisory 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 750 transactions in 38 states and 18 foreign countries across a variety of industries.
