NEW YORK & CLEARWATER, Fla.--(BUSINESS WIRE)--CCMP Growth Advisors, LP (“CCMP Growth”) and Decks & Docks (the “Company”), a family-owned business which is the largest specialty distributor of marine construction and outdoor living supplies in the Eastern United States, today announced that CCMP has partnered with CEO Shawn Roberts and President Tyler Wallace to acquire the Company. Shawn Roberts and Tyler Wallace will continue to lead the Company and will remain significant shareholders, with CCMP Growth providing capital to buy out the remaining shareholders and enable the management team to execute on their growth plan. Financial terms of the transaction were not disclosed.
Decks & Docks, headquartered in Clearwater, FL, was founded in 1991 and acquired by the current ownership in 2005. Since inception, the Company has served as a one-stop shop for composite decking, shoreline protection products and related accessories through its “Decks & Docks” branded coastal locations and “The Deck Store” branded inland locations. Decks & Docks serves a highly diversified customer base of marine and outdoor-living focused contractors with a broad portfolio of more than 15,000 SKUs. Decks & Docks has cultivated a reputation for strong technical expertise and excellent customer service as a result of its deep inventory and rapid delivery of supplies directly to their customers’ job sites through a company-owned and operated fleet. The Company has had a successful track record of growth over its history, expanding from one location to 34 locations across 11 states through a combination of new unit openings and strategic acquisitions.
Joe Scharfenberger, Co-Managing Partner of CCMP Growth, said, “Decks & Docks is exactly the type of business with which CCMP Growth seeks to partner, with its leading position in the attractive outdoor living-focused market, strong secular tailwinds from favorable consumer spending trends and a growth strategy that aligns with our expertise in scaling multi-site platforms. We look forward to supporting Shawn, Tyler and the exceptional team at Decks & Docks as we work together to continue the Company’s growth strategy of expanding through organic initiatives at existing sites, new unit openings and strategic acquisitions.”
“Decks & Docks’ success over the past 18 years has been a direct result of our commitment to providing customers with an attractive combination of the best products, unrivaled technical expertise, speed, reliability and convenience. With CCMP Growth’s extensive experience in growing businesses similar to ours, we are confident they are the ideal partner to help us achieve our growth plan,” said Mr. Roberts.
“Shawn and I are incredibly proud of the growth Decks & Docks has achieved over the years, which would not have been possible without the dedication of our employees. As we enter the next chapter of the company’s history, we are excited to partner with the CCMP Growth team to capitalize on new opportunities that will enable us to provide even more value to our customers,” said Mr. Wallace.
Raymond James acted as financial advisor and Morgan Lewis & Bockius LLP acted as legal advisor to Decks & Docks. Baird acted as financial advisor and Ropes & Gray LLP acted as legal advisor to CCMP Growth.
About CCMP Growth Advisors, LP
CCMP is a New York based growth-oriented private equity firm focused on making lead buyout and growth equity investments in middle-market companies in the Consumer and Industrial sectors primarily in North America. CCMP Growth leverages the deep investment experience of its team to identify high-growth companies in transition, and partners with management to help each platform scale through strategic and operational support. Visit www.ccmpgrowth.com.
About Decks & Docks
Founded in 1991, Decks & Docks is family-owned and is the largest specialty distributor of marine construction and outdoor living supplies headquartered in Clearwater, FL. Known as a one-stop shop for contractor customers, offering a comprehensive suite of difficult-to-find and deliver items, Decks & Docks serves the Eastern United States, operating a network of 34 facilities across 11 states, shipping domestically and internationally. Decks & Docks has a proven track record of successful expansion and reputation for fantastic service, great value and rapid delivery of supplies.