South Carolina construction products distributor New South Construction Supply on Thursday announced an agreement to acquire Atlanta counterpart American Contractors Supply.
New South officials said ACS is a leading supplier of tilt-up products, and that the deal would make the combined company one of the nation’s top distributors in the tilt-up concrete construction market. ACS’ Atlanta operations would continue under the New South name and join the company’s existing sites across South Carolina, North Carolina, Georgia and Florida.
The acquisition is New South’s second in less than a year.
“We are thrilled to work with the ACS team, and we can’t wait to leverage our combined strengths to set the new service standard in the tilt-up market throughout the eastern United States,” New South COO and Executive Vice President Abhi Singh said in the announcement.
ACS President and CEO Jason Reuter said New South met all three characteristics the company sought in a potential buyer: a strong team, shared values, and an opportunity for growth. Reuter and current ACS General Manager and CFO Ron Barteski will lead the combined company's tilt-up operations after the deal closes — projected for the second quarter of the year.
“Together, we are going to be able to service contractors throughout the entire East Coast and enhance our position as a trusted resource, not just a vendor,” Reuter said.
Financial terms were not disclosed.