The Detering Company Purchases South Texas Brick & Stone
HOUSTON, TEXAS (January 5, 2015) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that (an affiliate of) The Detering Company of Houston, LP (“Detering”) has acquired the operating assets of South Texas Brick and Stone, LLC (“STBS”). The transaction closed on December 16, 2014.
Detering, headquartered in Houston, Texas, has served the Houston community since 1926. The Company sells a wide variety of high-quality building materials, including millwork, brick and stone, windows, cabinets and custom manufactured products, allowing customers to get the “one-of-a- kind” look they seek. Detering is owned and operated by Carl Detering, Jr. Carl’s daughter, Cassie, and son Carlos, are also active in the business. For more information on Detering, please visit: http://www.detering.com.
STBS, also located in Houston, was founded by Ralph Sauer, Damian Law and Trey Magee, all of whom will remain with the business. STBS specializes in selling high-quality artisan- crafted stone and brick. Their products include manufactured, antique and thin brick; manufactured and natural stone; and pavers. For more information on STBS, please visit: http://www.southtexasbrick.com.
“We are excited about South Texas Brick & Stone becoming a Detering company. By adding their outstanding personnel and superior product offerings to our current brick and stone program, we will be able to better serve the custom home builders in and around Houston”, said Carl Detering, president and owner of The Detering Company. Carl added, “We greatly appreciated Statesman’s experience and expertise in advising us on this very strategic acquisition.”
Statesman Corporate Finance, LLC served as the exclusive financial advisor to The Detering Company of Houston, LP. The Statesman transaction team was led by Principal Will Jaco and included Associates Peter Chiu and Walker French. Charles Koerth and Taylor Lamb of Gray Reed & McGraw, P.C. served as legal counsel for Detering and financing for the transaction was provided by Amegy Bank, N.A.; Gary Justice lead banker.
Statesman is a leading middle market investment bank with offices in Houston and Austin, Texas, providing merger and acquisition sell-side, buy-side, and general corporate financial advisory services to small and middle-market companies located throughout Texas, Louisiana, Oklahoma, and New Mexico.