Home
Acres Building Supply Co. LLC (“Home
Acres”), a portfolio investment of CHS Private Equity
V LP, a $1.3 billion investment fund formed in 2005, today
announced the acquisition of V-Line Corporation LLC (“V-Line”).
V-Line is an Indianapolis-based distributor with five locations
serving the needs of interior contractors in Indiana. V-Line
will continue to operate under its existing name. The current
management team, led by Barry Subrin and Larry Harrington,
will remain in place and are looking forward to the new opportunity.
V-Line will expand Home Acres’ Midwest presence in
its core market segments and add a strong management team
in the Indiana market. The addition of V-Line’s operations
will give Home Acres a total of 21 locations throughout Michigan,
Indiana, and Wisconsin.
Grant R. Ellis, C.E.O. of Home Acres, said, “The addition
of V-Line will further enhance our ability to service our
customers’ needs with the best quality products and
finest service available. We are partnering with an experienced
management team and a leading company in the state of Indiana
to provide the best for our customers.”
Code Hennessy & Simmons LLC (“CHS”)
made a major investment in Home Acres in June, 2006 enabling
Home
Acres’ expansion into other markets. Peter Gotsch,
Partner at CHS, said, “We are excited to support Home
Acres’ expansion into a contiguous geography with the
acquisition of V-Line, a high-quality company with deep management
talent. The combination will be positive for customers, vendors
and employees.”
CHS is a Chicago-based private equity firm specializing
in private equity investments and recapitalizations of middle
market companies in partnership with management. CHS has
formed five private equity funds and currently manages over
$2.5 billion of capital.
For more information on Home Acres, please refer to the
company’s Web site at www.homeacres.com. |