Clinch-On Cornerbead Company, a leading provider of professional grade cornerbead products and steel coating services, has retained B. Riley & Co., LLC, a leading investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), as its financial advisor to provide buy-side advisory services in accordance with the company’s plan to grow its presence in North America.
Orange, CA-based Clinch-On, and affiliated companies Continuous Coating Corporation and American Cornerbead Company (collectively “CCC”), operate in the western and southeastern United States with plans to expand their regional footprint into complementary geographic markets through organic growth and acquisition opportunities. Professional contractors utilize the company’s superior quality cornerbead products during drywall installation. CCC sells metal, paper faced and plastic cornerbead products into the residential and commercial construction markets under several highly respected brand names, including: Clinch-On®, American Cornerbead®, CCCorp.®, and Bulldog®. The company’s coating operation applies anti-corrosive zinc coatings and related treatment services to light gauge steel. CCC is the only vertically integrated cornerbead manufacturer in the United States that maintains its own continuous steel coating line. The company also operates the only electro galvanizing line located west of the Colorado Rockies.
CCC’s management team is led by industry veterans Ralph Scott, President and CEO and Ken Harel, General Manager. The executives have worked together for over a decade, co-managing daily operations and providing strategic direction for the company’s highly visible brands.
“Our singular product focus, vertically integrated manufacturing platform, and unique regional coating capabilities provide meaningful competitive differentiation,” said Scott. “We employ experienced industry veterans and provide the highest quality products to our customers in the west and southeast. We’re excited and ready to bring that expertise to additional commercial and residential construction markets throughout the country.”
“Ralph and I look forward to working with B. Riley on a proactive buy-side M&A strategy to supplement organic growth. CCC is coming off a record year of financial performance, and is perfectly positioned to utilize its well capitalized balance sheet to aggressively pursue acquisition opportunities. We have meaningful cash to deploy, a debt free balance sheet, and access to readily available financing for larger transactions," said Harel.
B. Riley’s engagement team will be led by Senior Managing Director Greg Presson, Director Chris Ankley and Vice President Grant Hustedt. The investment banking firm routinely provides acquisition advisory services to corporations and private equity funds within select industry sectors.
Privately held CCC was founded in 1957 and has evolved into a leading provider of professional-grade cornerbead products and steel coating services. Professional contractors utilize CCC’s superior quality cornerbead products during drywall installation. The company sells metal, paper faced and plastic cornerbead products into the residential and commercial construction markets under several highly respected brand names, including: Clinch-On®, American Cornerbead, CCCorp.®, and Bulldog®. CCC’s steel coating operation applies anti-corrosive zinc coatings and related treatment services to light gauge steel for regional steel service centers. The company operates cornerbead manufacturing and distribution facilities in the western and southeastern United States, including a uniquely positioned continuous steel coating line in Southern California. For more information, please visit www.clinchon.com and www.continuouscoating.com.
About B. Riley & Co., LLC
B. Riley & Co., LLC is a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC (www.brileyco.com), Great American Group, LLC (www.greatamerican.com), and B. Riley Capital Management, LLC (which also includes B. Riley Asset Management (www.brileyam.com) and B. Riley Wealth Management, (www.brileywealth.com)). The Company also makes proprietary investments in other businesses, such as the acquisition of United Online, Inc. (www.untd.com) in July 2016, where B. Riley Financial, Inc. is uniquely positioned to leverage its expertise and assets in order to maximize value.
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