A.H. Harris Completes â€¨Acquisition of Kenseal Construction Products
WEST HARTFORD, CT A.H. Harris announces it has completed the acquisition of Kenseal Construction Products, the leading distributor of waterproofing, sealants, EIFS/stucco, glass/glazing and concrete masonry restoration products on the East Coast. Frontenac, private equity partner to A.H. Harris, financed the transaction.
A.H. Harris has earned a leadership role in the concrete construction industry by providing innovative technology and superior customer service while maintaining its historical values of service and integrity.
"The Kenseal business will be integrated into the A.H. Harris family and will operate as Kenseal, a division of A.H. Harris," said President and CEO Kimberly Corwin. "We are confident that the joint business will operate "˜Better Together', combining nearly 140 years of industry knowledge and experience. Together we can expand our product depth and reach, to better service our customers."
Paul McKinnell, President of Kenseal, will continue to lead the Kenseal division of A.H. Harris. "We believe the partnership with A.H. Harris & Frontenac to be "˜the perfect fit,'" said McKinnell. "The operational resources and industry experience of A.H. Harris combined with the strategic insight and financial support of Frontenac position us to better execute our plans for growth and market expansion."
The addition of the Kenseal family supports A.H. Harris' goal of providing customers with a one-stop shop in the concrete construction, repair/restoration, waterproofing and glazing markets. With a combined total of over 50 locations from Maine to North Carolina, this acquisition bolsters their footprint in existing markets and creates new geographical opportunities along the Eastern Seaboard. This will provide our customers access to an expanded network of the industry's best products.
"A.H. Harris has made strong progress under our ownership. The addition of Kenseal, which has established an equally impressive track record in the construction sector, will prove transformational and position the combined company for continued growth," said Michael Langdon, Managing Director at Frontenac. "This combination is consistent with the strategy we identified upon partnering with A.H. Harris, and we are delighted to support this compelling acquisition and future consolidation opportunities."
Wells Fargo Securities acted as exclusive financial advisor and Miles & Stockbridge acted as legal advisor to Kenseal in connection with the transaction.
A.H. Harris was represented by Kirkland & Ellis LLP.