Fruits of Six Time Duration of Enlargement and Strategic Growth in Partnership with Sterling
HOUSTON, April 14, 2025 /PRNewswire/ — The Sterling Staff (“Sterling”), a center marketplace personal fairness company, introduced lately that it has yes to promote Artisan Design Staff (“ADG” or the “Company”) to Lowe’s Corporations, Inc. (NYSE: LOW) for $1.325 billion. ADG is a eminent national supplier of design, distribution and set up products and services for inside floor finishes, together with floor, cupboards and counter tops, to nationwide, regional, and native homebuilders and component managers.
Headquartered in Dallas, Texas, ADG operates 132 distribution, design and repair amenities and coordinates set up thru over 3,200 workforce throughout 18 states. “Since initially partnering with co-founders Larry Barr and Wayne Joseph in 2018, Sterling has been proud to support ADG during a period of significant growth and expansion,” mentioned Johann Friese, Director at The Sterling Staff. Underneath Sterling’s possession, ADG has finished 15 acquisitions, every of which was once founder or entrepreneur owned. Sterling has a 40+ future historical past of partnering with founder- and family-owned business companies.
ADG will make bigger Lowe’s Professional providing right into a untouched distribution channel inside a extremely fragmented, roughly $50 billion marketplace. “With more than 18 million homes needed in the United States by 2033, we expect new home construction will be a major driver of Pro planned spend for the next decade. The acquisition of ADG allows us to build on our momentum with Pro planned spend and is expected to expand our total addressable market by approximately $50 billion,” mentioned Marvin R. Ellison, Lowe’s chairman, president and CEO. “With its strong, customer-centric operating model, ADG has become an industry leader with best-in-class customer satisfaction scores from the top builders in the U.S. We look forward to welcoming the ADG team to Lowe’s, and, through our combined capabilities, enhancing our offering to our expanded Pro customer base.”
“We are thrilled for ADG to join forces with Lowe’s,” mentioned Steve Margolius, ADG’s CEO. “Our leading position in flooring, cabinets and countertops, combined with Lowe’s scale and category breadth, will allow us to continue on our growth trajectory while providing an even more differentiated and comprehensive offering to the builders and property managers we serve today.”
The transaction is predicted to near in the second one quarter of 2025, topic to receipt of needful regulatory approvals and delight of alternative normal ultimate situations. RBC Capital Markets is performing as top monetary consultant to ADG. Goldman Sachs may be performing as monetary consultant to ADG. Latham & Watkins LLP is performing as criminal consultant to ADG.
About Artisan Design Staff
ADG supplies design, distribution, and set up products and services for inside finishes together with floor, cupboards, and counter tops to nationwide and native homebuilders and component managers. Shaped in 2016 by means of the merging of 2 trade leaders, ADG these days operates 132 distribution, design, and repair amenities in 18 states, and is headquartered in Dallas, Texas.
About The Sterling Staff
Based in 1982, The Sterling Staff is a non-public fairness and personal credit score funding company that objectives investments in ordinary production, distribution, and business products and services corporations. Conventional undertaking values of those corporations at preliminary formation field from $100 million to $750 million. Sterling has subsidized the buyout of 74 platform corporations and diverse add-on acquisitions for a complete transaction price of over $25 billion. Sterling these days has $9.4 billion of property beneath control. For additional data, please seek advice from www.sterling-group.com.
Life efficiency isn’t any word of honour of generation effects and all investments are topic to loss.
About Lowe’s
Lowe’s is a FORTUNE® 50 house development corporate serving roughly 16 million buyer transactions a pace in america. With overall fiscal future 2024 gross sales of greater than $83 billion, Lowe’s operates over 1,700 house development shops and employs roughly 300,000 mates. Based totally in Mooresville, N.C., Lowe’s helps the communities it serves thru techniques excited about developing secure, reasonably priced housing, bettering nation areas, serving to to build the then presen of professional industry professionals and offering extremity leisure to communities in want. For more info, seek advice from Lowes.com.
Disclosure Referring to Ahead-Having a look Statements
This press loose comprises “forward-looking statements” throughout the that means of the Non-public Securities Litigation Reform Employment of 1995. Statements together with phrases equivalent to “believe”, “expect”, “anticipate”, “plan”, “desire”, “project”, “estimate”, “intend”, “will”, “should”, “could”, “would”, “may”, “strategy”, “potential”, “opportunity”, “outlook”, “scenario”, “guidance”, and homogeneous expressions are forward-looking statements. Ahead-looking statements contain, amongst alternative issues, expectancies, projections and guesses about generation monetary and working effects, industry outlook, priorities, gross sales enlargement, shareholder price, the housing marketplace, the house development trade, call for for services and products together with buyer acceptance of untouched choices and tasks. Such statements contain dangers and uncertainties, and we will be able to give incorrect guarantee that they are going to end up to be proper. Fresh effects would possibly vary materially from the ones expressed or implied in such statements.
All kinds of possible dangers, uncertainties, and alternative components may just materially have an effect on the facility to succeed in the consequences both expressed or implied by means of those forward-looking statements together with, however now not restricted to, the prevalence of any match or alternative order that might give arise to the best of 1 or either one of the events to finish the merger word between Lowe’s and ADG, the failure to acquire the needful approvals or to meet the alternative situations to the proposed merger on a well timed foundation or in any respect, the chance that the expected advantages and synergies of the merger aren’t discovered when anticipated, or in any respect, together with on account of the affect of, or issues bobbing up from, the combination of the 2 corporations or on account of adjustments generally financial situations. All such forward-looking statements discuss simplest as of the while they’re made, and Lowe’s does now not adopt any legal responsibility to replace those statements alternative than as required by means of regulation.
SOURCE The Sterling Staff, L.P.
