High Street Capital (or “HSC”), is pleased to announce that its portfolio company Suburban has completed the acquisition of Applewood Drywall (“Applewood”), a 40-year-old, premier provider of a complete line of insulation, metal framing, drywall, and painting services for a diversified mix of commercial, multi-family, and residential construction customers in the state of Wisconsin.
The addition of Applewood’s services and resources deepens Suburban’s capabilities for our customers and positions us for growth and continued excellence in the near and long-term in our Upper Midwest markets,” said Dave Satermo, President of Suburban. Blake Bartolomei, Vice President of High Street Capital, added, “The strategic and harmonizing fit between the two organizations is abundantly evident and HSC is thrilled to support the Suburban management team as we continue to grow the premier construction services firm in the Midwest.”
Jim Hohnstein, President of Applewood, remarked, “We immediately recognized that Suburban and High Street Capital were the right home to continue the legacy of our long-time family business and look forward to a bright future with the combined organizations.”
Please contact Blake Bartolomei (312.667.4773 or blake@highstreetcapital.com) with any questions or construction services opportunities that might be a fit for Suburban or High Street Capital.
Separately, we are seeking other new platform investments for our Fund V in the areas of outsourced business services, niche manufacturing, and value-added distribution. Please contact us with businesses having revenues between $10 million and $100 million where our capital, experience, and ideas could be used to leverage management’s capabilities to drive future growth.
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