According to a report from Dow Jones, private equity firm Platinum Equity has reached a deal to acquire PrimeSource Building Products, the largest distributor of screws and nails in the U.S. Terms of the acquisition were not given.
PrimeSource provides lumber and building supply dealers, retailers, supply chains, steel fabricators, and wholesalers with products including adhesives and caulks, anchor bolts, builders hardware, collated fasteners and screws, nails and steel framing. The Irving, TX-based company, has 42 distribution centers throughout the U.S. and Canada and more than 1,200 employees.
In November, Japanese trading house Itochu made public that it was seeking more than $1 billion for the sale. Itochu acquired PrimeSource in 1998.