Investment Firm Acquires Bradco Stake

July 23, 2008
Companies
Advent International, a global buyout firm, has signed a definitive agreement to acquire a majority interest in Bradco Supply Corp., a distributor of roofing materials and other building products. Bradco was founded by the Segal family in 1966, which will continue to own a significant minority stake in the business.

Based in Avenel, N.J., the distributor operates more than 150 locations across 30 states and reports annual sales in excess of $1.7 billion. Bradco offers windows, doors and skylights from Andersen, Jeld-Wen, MI Windows & Doors, NorthEast Windows, Simonton, Survivor, Therma-Tru and Velux.

“The Segal family has built Bradco into one of the premier distributors in the industry,” says Stephen Hoffmeister, a principal in Advent’s Boston office. “The company has an excellent reputation with customers, founded on delivering outstanding service over four decades. We plan to support management and its strong commitment to providing contractors and builders with quality products, competitive prices and the best customer service in the industry.”

Ted Boylan will continue as CEO, and the rest of the Bradco management team will remain the same, according to a letter prepared by Brad Segal, president, posted on the company’s Web site. “The most significant change aside from the transfer of ownership will be our access to additional capital and increased ability to grow the company through acquisitions and regional expansion.”

The value of the transaction and other terms of the agreement were not disclosed.