Atlantic Squared Supply LLC Acquires Metal Roofing Systems, LLC and Metal Roofing Systems & Supply, LLC


HOUSTON, TEXAS (December 1, 2022) – Statesman Business Advisors, LLC (“Statesman”) is pleased to announce that Atlantic Squared Supply LLC (“Atlantic Squared”) has acquired Metal Roofing Systems, LLC and Metal Roofing Systems & Supply, LLC (collectively, “MRS”) with financing provided by TCW Asset Management Company LLC (TCW”) and PNC Bank, N.A. (“PNC”). Statesman served as co-advisor to Atlantic Squared on the transaction, along with FocalPoint, a division of B. Riley Securities, Inc. (“FocalPoint”).

Atlantic Squared Supply LLC is a leading building materials wholesaler, distributing a comprehensive suite of products to customers across the southern United States. Founded in 1974, the company’s two original branches were acquired in 2019 by an experienced management team that rapidly grew the footprint through a series of acquisitions and greenfield expansions to include more than twenty branches across eight states. The acquisition of MRS, a commercial and residential metal roofing manufacturer, creates one of the largest independent pure-play roofing distributors in the United States.

“Statesman and the FocalPoint team have developed a comprehensive understanding of our business and our partners, working hand in glove with our management team to arrange the optimal capitalization structure for the next stage of our development. We are delighted to continue our relationship with TCW and PNC.” said Tim Perryman, CEO at Atlantic Squared. 
Tim Perryman added, “David Sargent and I first worked together on the recapitalization of the Roofing Supply Group in 2006 and he’s one of my most trusted resources who always gets the job done.” The Statesman team also assisted with Atlantic Square Supply’s acquisition of Mid Atlantic in May of 2021.
“The continued success of Atlantic Squared’s management team in expanding the company’s footprint enabled us to enlarge the credit facility in spite of volatile capital market conditions, and to position the company for its next stage of growth”, added David Sargent, Senior Advisor at Statesman.

About the other transaction participants 

Statesman Business Advisors, LLC (Houston, TX) is one of Houston’s premier financial advisory firms serving middle-market businesses. Statesman specializes in merger and acquisition advisory services (both sell side and buy side), management buyouts/recapitalizations, business financing and capital sourcing, and accredited business valuations. Additionally, Statesman provides due diligence services and government guaranteed loan packaging for financial institutions. Securities transactions are completed through Statesman’s affiliate, Statesman Corporate Finance, LLC, a FINRA registered broker-dealer.

FocalPoint (Chicago, IL) is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings, and special situation transactions. With one of the largest dedicated Capital Markets teams in the middle market, they offer deep relationships with hundreds of lenders that allow them to navigate capital raise processes with confidence and precision.

TCW Asset Management Company LLC (Los Angeles, CA) specializes in providing senior-secured loans to middle market borrowers across a wide spectrum of industries. The group partners with business owners, management teams, financial intermediaries, and asset-based lenders to arrange customized financing solutions. The group has extensive experience working with both private equity sponsored and non-sponsored companies, including family-owned businesses, small-cap public companies, employee-owned firms and other non-traditionally owned businesses. TCW Direct Lending takes a highly individualized and creative structuring approach to address the unique challenges and opportunities of each transaction.

PNC Bank, N.A. (Wilmington, DE) is the business operated by PNC Bank, N.A. as its asset-based lending arm. Headquartered in New York with offices nationwide, PNC Business Credit is an asset-based lending service, with more than $10 billion in commitments. PNC Business Credit specializes in providing secured financing to middle-market companies in the manufacturing, wholesale, distribution, retailing and service industries, many of which have substantial overseas operations. PNC Business Credit enables clients to leverage the value of their assets and cash flow to achieve both short- and long-term goals, including working capital growth, mergers and acquisitions, recapitalizations and restructurings, and turnarounds.

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