July 27, 2023: Indianapolis-based private equity firm CID Capital (“CID”) announced that its Georgia-based metal roofing distribution platform, Georgia Metals, has expanded into its third state – South Carolina – with the acquisition of Upstate Metal Supply. Terms of the deal were not disclosed.
Founded in 1974, Georgia Metals is a leading, regional provider of metal paneling, primarily used in roofing, wall panels, and other metal building-related products and accessories. The Company provides a broad selection of high-quality products with operations that span the states of Georgia, Florida, and with the acquisition of Upstate Metal Supply, South Carolina. This was Georgia Metals' second acquisition since CID invested in the Company in August of 2022.
"When considering strategic acquisitions, Upstate Metal Supply was top of our list due to the Company's excellent reputation and high levels of customer service," said Tripp Strickland, Founder & CEO of Georgia Metals. "We are excited to now have a physical presence in South Carolina to accelerate our market share growth and enhance our already-high levels of customer service."
Cory Heck, Partner at CID, commented, "The Upstate of South Carolina has been great to CID and we are confident this relationship will continue with the acquisition of Upstate Metal Supply. Their business, led by a terrific team, aligns perfectly with our strategy to expand our footprint via organic growth and near-in acquisitions.”
Please reach out to Ryan Cutter with any questions or potential new investment opportunities.
About Upstate Metal Supply
Upstate Metal Supply was founded by the McCaw family and is based in Anderson, South Carolina. The Company provides metal roofing and wall panels, accessories, and trim to a mix of contractor and wholesale customers.
About Georgia Metals
Headquartered in Danielsville, GA, Georgia Metals is a leading value-added distributor of high-quality metal panels used in roofing and other metal building applications. The Company also has locations in Moultrie and Nahunta, GA, East Palatka, FL, and Anderson, SC.