- Wall Works is a purpose-built platform that partners with leading regional specialty contractors in the finishing trades
- Wall Works supports partner companies as they pursue organic and inorganic growth in their regions while also providing unique and valuable network benefits
- Optimum, a leading finishing contractor in New England, joins Suburban as the second major Wall Works regional hub
BOSTON & KANSAS CITY – AVALT, a Boston-based private equity firm, and VantEdge, a Kansas City-based family office investment firm (collectively, “the Sponsors”) today announced the formation of Wall Works Holdings (“Wall Works”, “WWH”, or the “Company”), a platform to partner with leading regional specialty contractors in the finishing trades. WWH partner companies provide installation services for drywall, insulation, metal framing, acoustic ceiling tiles, exterior cladding, and custom finishes to general contractors and homebuilders.
At its core, WWH’s strategy is to provide strategic and operational support to best-in-class regional finishing contractors as they seek to accelerate organic and inorganic growth in their regions. WWH companies will also benefit from the scale and combined resources of the platform, which will enable them to share best practices and realize efficiencies.
“The official launch of the Wall Works platform marks another significant step in our journey that started with our Suburban partnership last July,” said Tyler Biddix, Partner and Co-Head of Commercial and Industrial Services at AVALT. “We believe this is a one-of-a-kind specialty contracting platform that creates meaningful operational and financial value for its regional hubs, their shareholders, and their management teams. We intend to add additional regional hubs to further expand our multi-regional footprint, and we are incredibly excited by the opportunity ahead.”
Today, Wall Works also announced the acquisition of Optimum Building Systems, LLC (“Optimum” or “the Company”) as its second regional hub. Wall Works has invested alongside members of the Optimum management team in the transaction. The partnership will support the Company as it seeks to build upon its leading market position in New England while simultaneously growing into adjacent geographies.
Founded in 1990 and headquartered in Litchfield, New Hampshire, Optimum is a market-leading provider of drywall, acoustic ceiling tile, waterproofing, and exterior cladding installation services to general contractors in the commercial, education, and healthcare end markets. The Company operates across northern New England and has a decades-long track record of delivering high-quality interior and exterior construction services to top general contractors across the region. Optimum is led by President Rene Theroux and Vice President Sylvain Theroux, each of whom bring decades of industry leadership experience. They are supported by a deeply experienced core management team.
Jay Matlack, Managing Director at VantEdge, said “Optimum is a great fit for our strategy at Wall Works and we’re thrilled to welcome them as the second regional hub in our strategy. They are a market leader with a diverse set of capabilities we believe will benefit the entire Wall Works network. We’re excited that the vision for Wall Works and our partnership approach have resonated so strongly with Rene and Sylvain and we look forward to partnering with them to continue to propel their business forward.”
Optimum President Rene Theroux added, “Sylvain and I started Optimum 35 years ago with the goal of building the premier interior and exterior specialty contractor in New England. We are incredibly proud of our success and feel the time is right to join a platform that can help elevate Optimum to the next level. We believe Wall Works is that platform. With the support of AVALT and VantEdge, and the combined resources of current and future Wall Works contractors, there are no limits to what we can achieve together. The entire Optimum team is excited to see what this next chapter holds.”
Terms of the transaction were not disclosed.
About Wall Works
Wall Works Holdings is a platform company that partners with and builds best-in-class finishing contractors serving general contractors and homebuilders across the United States. Services include drywall, insulation, metal framing, acoustic ceiling tile, exterior cladding, and custom finishes. Wall Works companies preserve their brands, relationships, and significant operating autonomy while simultaneously benefitting from growth capital, strategic support, and shared resources that come from a national platform. For additional information, visit www.wallworksholdings.com.
About Optimum
Optimum Building Systems is a leading provider of drywall, acoustic ceiling tile, waterproofing, and exterior cladding services to the commercial, healthcare, and education end markets in New England. The Company has a 30+ year history and a strong track record of market leadership, serving the leading general contractors across the region. For additional information, visit www.obsnh.com.
About Suburban
Founded in 1978 and headquartered in Waukesha, WI, Suburban is a market-leading provider of construction services including drywall, insulation, steel framing, and custom finish installation services across southern Wisconsin. The Company operates branches in Waukesha, WI and Lake Mills, WI, and it has a decades-long track record of delivering high-quality interior construction services to many of the top multi-family and commercial general contractors and single-family homebuilders across the state. For additional information, visit www.suburbandrywall.com.
About AVALT
AVALT is a private equity firm that invests its permanent capital base in leading businesses with meaningful growth and/or transformation opportunities. The team’s deep business building experience helps companies accelerate their growth, and its flexible capital base enables ongoing support without regard to any fixed time horizon. Target industries include Commercial & Industrial Services and Professional & Technology Services, and investments are typically backed with $25-100M of equity capital. For additional information, visit www.avalt.com.
About VantEdge
VantEdge is a Kansas City-based family office investment firm that invests primarily in residential and commercial services, construction services, distribution, manufacturing, and multi-site consumer concepts. Target equity investments range from $20 to $75 million. VantEdge is committed to a partner-first mentality, collaborating and supporting management teams to create value together. For additional information, visit www.vantedge.partners.
Contact:
Tyler Biddix
