ERES IV, managed by Edmond de Rothschild Private Equity (France) and advised by Elyan, invests $30m in Decks & Docks, a US B2B distributor of marine construction and outdoor living supplies
Continued growth plan based on market share acquisition and expansion of national footprint
CCMP Growth Advisors, LP (“CCMP Growth”), Edmond de Rothschild Equity Strategies IV SLP (“ERES IV”), 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, announced that they had 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 and ERES IV providing capital to buy out the remaining shareholders and enable the management team to execute on their growth plan.
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.
Laure Lamm-Coutard, Partner at Elyan Partners, said: « We are thrilled to partner with a management team that has significantly outpaced its industry over the past 15 years and look forward, together with CCMP, to supporting Decks & Docks in its expansion in the large and growing U.S. market. Decks & Docks resonates with two of our investment themes: (i) it serves the highly-resilient and growing affluent consumer space and (ii) it leads the field in the reshaping of its industry with cutting-edge products limiting impacts due to climate change on US shorelines. »
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.”
Shawn Roberts, CEO of Decks & Docks said: “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.”
Tyler Wallace, President of Decks & Docks said: “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.”
About Elyan Partners and Edmond de Rothschild Private Equity
Elyan Partners SAS is a member of the Edmond de Rothschild Private Equity partnership and is the exclusive financial advisor for the ERES (Edmond de Rothschild Equity Strategies) and Privilege funds, together totaling close to €1 billion in assets under management. Through a collaborative investment strategy with management teams and shareholders, Elyan is committed to supporting the sustainable growth of midcap companies in Europe and the United States.
Edmond de Rothschild Private Equity is an independent firm, part of Edmond de Rothschild, with over CHF3.5 billion in assets under management. With an entrepreneurial approach to finance and backed by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social issues. Created in 1953, the Edmond de Rothschild group has CHF 158 billion in assets under management, 2,500 employees and 33 locations worldwide.