ASG Acquires Bedrock International
ANAHEIM, Calif. – Architectural Surfaces Group (ASG) acquired Bedrock International LLC, a leading Midwest distributor for natural stone based in Lexena, Kan. Terms were not disclosed.
The deal’s announcement today came from Select Interiors Concepts Inc., the Anaheim-based holding company for ASG and Residential Design Services (RDS).
The transaction allows ASG to enhance existing products from natural stone, quartz slab and tile, while providing new offerings such as plumbing fixtures.
“Bedrock’s reputation for high-quality materials and unparalleled customer service aligns with ASG’s reputation in the marketplace,” said Sunil Palakodati, ASG president. “The acquisition will ensure we can continue to grow and scale, while adding value for our customers.”
The acquisition of Bedrock expands ASG’s reach across 20 markets, including Des Moines, Iowa; the Kansas City metropolitan area; St. Louis; and Tulsa, Okla.
“The ASG network allows us to continue providing superior service to our customers, as well as providing new, exciting opportunities for our employees,” added Byron Dougherty, founder of Bedrock International. “We are excited about this new opportunity and look forward to working together to build the business.”
Headquartered in the Austin, Texas, area, Architectural Surfaces Group specializes in the design, sourcing, and distribution of natural and engineered stone and other related products.
The Bedrock transaction is the first announced for ASG under the Select Interiors ownership umbrella. Previously, both ASG and RDS operated as independent portfolio companies owned by Trive Capital, a Dallas private-equity investment firm.
Documents filed with the federal Securities and Exchange Commission note that Select Interiors held a Rule 144a private-placement offering last November. Placement agent B. Riley FBR Inc. announced in December that it closed the private sale of 18.75 million shares of common stock at $12 per share, resulting in aggregate gross proceeds of $225 million.
Select Interior Concepts is a holding company for the consolidation and management of companies focused on interior building products and services. ASG and RDS are the first two wholly owned subsidiaries of SIC.
Earlier this month, RDS acquired Greencraft Interiors, a Phoenix design, service, and product-installation business.
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