Tecum Capital Partners, L.P. (“Tecum”) has partnered with Oakland Standard Co. (“Oakland Standard”) and O2 Investment Partners, LLC (“O2”) in the formation of Clio Holdings, LLC (“Clio”) to acquire and consolidate local and regional countertop supply and fabrication businesses. Tecum provided mezzanine debt and an equity co-investment to support Clio’s acquisition of Granite Source, Inc.
Stephen Gurgovits, Jr., Managing Partner of Tecum Capital, commented, “Partnering with Oakland Standard and O2 on this platform was a significant part of our investment thesis for this transaction. Their collective track record of executing buy-and-build growth strategies in the building products and other industries speaks for itself. We look forward to adding value to this partnership and supporting future add-on acquisitions to grow the platform.”
Clio was formed to partner leading regional countertop suppliers and fabricators together, providing the capital and operational expertise to upgrade, differentiate and professionalize this highly fragmented industry. Clio has successfully completed two acquisitions to date (Granite Source and Princess Marble Company) and is actively seeking new opportunities in major metro areas across the United States.
Granite Source, Inc., founded in 1999 and headquartered in Chantilly, VA is a leading provider of stone countertop fabrication and installation services in Central and Northern Virginia and the Washington D.C. metro area. To learn more, visit www.granitesource.net
Princess Marble Company, based in Bursnville, MN, has been a leading provider of marble and granite countertop manufacturing, fabrication and installation services to the Twin Cities area for over 20 years. To learn more, visit www.princessmarblegranite.com