PrimeSource Brands Acquires Cobra Anchors

A Provider of Hollow-Wall, Universal, and Masonry Anchors to Home Centers, Wholesale, and Industrial Distributors, Cobra Supports PrimeSource Brands’ Next Phase of Growth

PrimeSource Brands, a North American provider of specialty branded residential building products backed by Clearlake Capital Group, L.P. (“Clearlake”), announced that it has acquired Cobra Anchors a provider of branded hollow-wall, universal, and masonry anchors. The transaction is PrimeSource Brands’ fifth acquisition since partnering with Clearlake in December 2020. Financial terms were not disclosed.

Based in Montreal, Quebec, Canada, Cobra offers a portfolio of over 1,000 SKUs focused on hollow-wall, universal and masonry anchors.  The combination with Cobra enhances the PrimeSource Brands portfolio of branded products and expands the Company’s reach into the home center, lumberyard and specialty retail channels.

“We are thrilled to add Cobra to the PrimeSource portfolio,” said Tom Koos, CEO of PrimeSource. “The Cobra team has built a terrific catalogue of proprietary products that fits well with our existing platform. Along with PrimeSource Building Products, Dimora Brands, Nationwide, Wolf, and Axxis, Cobra continues our efforts to build the branded specialty building products platform with the largest sales and service capabilities in the industry. We believe our depth of catalogue combined with our customer reach gives us an advantage, and we are confident that our increased national scale will enable us to grow this business at an accelerated pace.”

Operating a national footprint with 56 distribution centers, PrimeSource Brands is a link in the residential building products supply chain, serving as the ‘one-stop-shop’ for specialty building products ranging from construction fasteners and building materials to specialty home hardware.  PrimeSource Brands owns a portfolio of branded products including Grip-Rite, Pro-Twist, Top Knobs, Hardware Resources, Atlas Homewares, North Pointe Cabinets, and Wolf Home Products among others across several categories including construction fasteners, cabinets and cabinet hardware, lighting and plumbing, and outdoor building materials.  PrimeSource Brands delivers these products daily across multiple channels including national home improvement retailers, lumberyards, building products dealers, and specialty showrooms. 

“In partnership with the PrimeSource Brands team, we continue to deploy our O.P.S.^® playbook to capitalize on the Company’s footprint and logistics network and channel reach by expanding the branded product portfolio across residential building product applications,” said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, of Clearlake.  “We look forward to continuing our exciting growth trajectory with both organic and acquisition initiatives going forward.” 

Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Cobra and its shareholders. 

About PrimeSource Brands

PrimeSource Brands, is a leading national provider of specialty branded residential building products. The Company’s product offering spans more than 85,000 SKUs, including construction fasteners, cabinet knobs & pulls, and functional hardware, among others. PrimeSource Brands operates an expansive footprint, serving over 45,000 customer locations through 56 strategically located distribution centers in 26 states.  PrimeSource Brands plays a crucial role for customers who rely on its brand value, breadth of offering and logistics capabilities.

For more information, please visit www.psbrands.com

About Cobra

Cobra, through its subsidiaries, is a leading and growing provider of hollow-wall, universal, and masonry anchors to home centers, wholesalers and industrial distributors throughout the U.S., Canada, and parts of Europe. Cobra’s brands include the Wall Driller (Zinc & Nylon), Wall Driller Plus, Wall Biter, Driller Toggle, Flip Toggle, Triple Grip and the Parawedge.  Based in Montreal, Quebec, Canada, with a manufacturing plant in Temple, Pennsylvania. Cobra’s products also include a broad line of anchors.

For more information, please visit www.cobraanchors.com.

About Clearlake

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $80 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland and Singapore.

More information is available at www.clearlake.com.

Contact:

Jennifer Hurson – Lambert & Co. – jhurson@lambert.com – (845) 507-0571

Source: PrimeSource Building Products, Inc.