Mechanical insulation distributor Distribution International, Inc. (DI), a portfolio company of private equity firm Advent International, on June 11 announced its acquisition of Silvercote, LLC and the assets of Silvercote’s Canadian operations from Knauf Insulation, Inc., and Knauf Insulation Ltd., respectively. Silvercote, a Greenville, South Carolina-headquartered laminator and distributor of metal building insulation (MBI) and related products and accessories to metal building manufacturers, specialty contractors and metal building brokers, has 11 locations across the U.S. and Canada.
“This acquisition is an exciting addition for DI as we continue our journey to deliver high-quality insulation solutions and exceptional service to our customers throughout North America,” says Steve Margolius, DI CEO.
Silvercote’s operations will be combined with DI’s existing MBI business under the Silvercote brand. The headquarters will remain in Greenville. Joey Viselli, current Silvercote general manager, will lead the combined business as DI’s senior vice president and general manager, specialty products. “I am honored and excited at the opportunity to lead and grow this business as part of the DI family,” says Viselli, adding that “the combined business has a branch footprint that is ideally suited to service our growing customer base across North America.”
Silvercote will continue to source product from and work closely with Knauf Insulation, a manufacturer of thermal and acoustical glass mineral wool insulation that is part of the Germany-based Knauf Group. “We are excited to be working together to deliver the highest quality services and product solutions for our customers,” says Matt Parrish, president and CEO of Knauf Insulation, Inc.
Mergers and acquisitions are an important element of DI’s growth strategy, according to the company. Since December 2011, DI has completed 22 acquisitions in the insulation market across the U.S. and Canada. Founded in 1986, the Houston-based company has more than 90 locations and provides products and services across the commercial building, chemicals, energy, power, railcar and marine end markets.