Home Acres Building Supply Co. Announces the Acquisition of V-Line Corporation LLC
Home Acres Building Supply Co. LLC (“Home Acres”), a portfolio investment of CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005, today announced the acquisition of V-Line Corporation LLC (“V-Line”). V-Line is an Indianapolis-based distributor with five locations serving the needs of interior contractors in Indiana. V-Line will continue to operate under its existing name. The current management team, led by Barry Subrin and Larry Harrington, will remain in place and are looking forward to the new opportunity.
V-Line will expand Home Acres’ Midwest presence in its core market segments and add a strong management team in the Indiana market. The addition of V-Line’s operations will give Home Acres a total of 21 locations throughout Michigan, Indiana, and Wisconsin.
Grant R. Ellis, CEO of Home Acres, said, “The addition of V-Line will further enhance our ability to service our customers’ needs with the best quality products and finest service available. We are partnering with an experienced management team and a leading company in the state of Indiana to provide the best for our customers.”
Code Hennessy & Simmons LLC (“CHS”) made a major investment in Home Acres in June, 2006 enabling Home Acres’ expansion into other markets. Peter Gotsch, Partner at CHS, said, “We are excited to support Home Acres’ expansion into a contiguous geography with the acquisition of V-Line, a high-quality company with deep management talent. The combination will be positive for customers, vendors and employees.”
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS has formed five private equity funds and currently manages over $2.5 billion of capital.
For more information on Home Acres, please refer to the company’s website at www.homeacres.com.