Distribution International, Inc., a leading mechanical insulation distributor and a portfolio company of Advent International, announces the acquisition of Silvercote, LLC and the assets of Silvercote’s Canadian operations from Knauf Insulation, Inc., and Knauf Insulation Ltd., respectively. Headquartered in Greenville, South Caroliba, with 11 branches located across the U.S. and Canada, Silvercote is a market leading laminator and distributor of metal building insulation (MBI) and related products and accessories to metal building manufacturers, specialty contractors, and metal building brokers.
“This acquisition is an exciting addition for DI as we continue our journey to deliver high quality insulation solutions and exceptional service to our customers throughout North America. We look forward to welcoming all Silvercote associates, customers and suppliers to the DI family” says Steve Margolius, Distribution International CEO.
Silvercote’s operations will be combined with DI’s existing MBI business under the Silvercote brand and will continue to be headquartered in Greenville. Joey Viselli, the current general manager of Silvercote, will lead the combined business as DI’s senior vice president and general manager, overseeing specialty products.
“Bringing these two organizations together creates the leading MBI company in North America. I am honored and excited at the opportunity to lead and grow this business as part of the DI family” says Viselli, also noting that “the combined business has a branch footprint that is ideally suited to service our growing customer base across North America.”
As part of the transaction Silvercote will continue to source product from and work closely with Knauf Insulation to ensure uninterrupted service and consistent product to its customers.
“We’re looking forward to continuing our partnership with Silvercote and DI,” says Matt Parrish, president and CEO of Knauf Insulation, Inc. “We are excited to be working together to deliver the highest quality services and product solutions for our customers.”
This transaction is limited to the Silvercote business.
Mergers and acquisitions are an important element of DI’s growth strategy. Since December 2011, DI has completed 22 acquisitions in the insulation market, expanding its geographic presence across the U.S. and Canada and broadening its product and service offerings.