Patriot Supply, Inc. d/b/a Capitol Supply and Service (“Capitol Supply”), a Michigan-based building product distribution and HVAC installation and servicing business for the manufactured housing industry has been acquired by Style Crest, Inc. For over 40 years, Capitol Supply has serviced the Michigan market through its five strategically spread locations, allowing it to offer superior customer service and high-quality products to its customer base. The addition of Capitol Supply will strengthen Style Crest’s presence in the Michigan market and allow Style Crest to provide HVAC installation and servicing capabilities to the State.
Prior to engaging Cascade Partners, the Company had completed several shareholder buyouts in connection with their retirements and to better position the Company for continued success going forward. After operating for many years with a variety of different shareholders, the remaining shareholders were ready to find a long-term partner to provide the guidance, as well as the strategic and financial support necessary to help accelerate the organization’s growth trajectory and better serve its customer base.
After being introduced by a former client and current Operating Partner of Cascade Partners, the firm had built a relationship with the prior President of Capitol Supply before beginning conversations with the current shareholder group. Cascade Partners spent the time to ensure it understood the cultural fit, expectations, needs of the shareholders, and the appropriate demands of the business going forward before proposing potential solutions. Additionally, Cascade Partners helped the shareholders navigate complex operating dynamics and spent the time to fully educate them on what different strategic options would ultimately mean for them and how to create a “win / win” scenario for all of the constituents involved including the customers, suppliers, employees, and the ownership group.
The Cascade Partners’ team secured multiple offers, which were carefully reviewed with the shareholders to determine the best fit to achieve their goals. After considering the alternatives, the shareholders decided its long-term supply partner, Style Crest, was the best solution for Capitol Supply’s next phase of growth.