COSTA MESA, Calif. - June 7, 2004 -- Masco Corporation (NYSE: MAS) headquartered in Taylor, Mich., has acquired Central Fireplace & Appliance LLC of Sacramento, Calif. Masco Corporation made the acquisition through Masco Contractor Services, a wholly owned subsidiary based in Daytona Beach, Fla. Transaction terms were not publicly disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Central Fireplace & Appliance.
"Central Fireplace & Appliance, which enjoys strong relationships with fireplace manufacturers and homebuilders in the greater Sacramento area, sought to align itself with a larger company that could provide broader distribution channels and additional resources," said Paul Weisbrich, senior managing director of RSM EquiCo Capital Markets.
"RSM EquiCo Capital Markets successfully launched an extensive search to secure a buyer offering a complementary strategic fit," Weisbrich continued. "The acquisition strengthens Masco Contractor Service's fireplace sales and installation business in the Sacramento Metropolitan Area."
About Central Fireplace & Appliance LLC
Central Fireplace & Appliance supplies and installs high-end wood and gas fireplaces in the rapidly expanding Sacramento Metropolitan Area. Founded in 1995, Central Fireplace and Appliance's reputation for quality workmanship and customer service has attracted over 300 clients, including many of the most prominent homebuilders in the United States.
About Masco Contractor Services
Masco Contractor Services is a residential insulation, fireplace, cabinetry, and guttering contractor primarily serving homebuilders through a network of more than 330 installation branches in Canada and the U.S. Masco Contractor Services also sells building products directly to construction contractors through about 50 distribution offices in the U.S. The company generated over $2.4 billion in revenues in FY2003.
About Masco Corporation
Masco Corporation is one of the world's largest manufacturers of brand-name consumer products for the home and family. Masco's manufacturing facilities are located throughout the United States and Europe, with international operations located primarily in Belgium, Denmark, Germany, Italy, the Netherlands, Spain and the United Kingdom. With 61,000 employees, Masco generated nearly $11 billion in sales in FY2003 and has a market capitalization of over $12.6 billion.
About RSM EquiCo, Inc.
RSM EquiCo is a leading global investment banking firm serving private middle-market companies throughout North America. With more than 400 professionals and support personnel, the firm specializes in mergers, acquisitions and divestitures for non-public companies with up to $500 million in annual revenues. Based in Costa Mesa, Calif., RSM EquiCo is part of RSM McGladrey Business Services, a business segment of H&R Block Inc. For more information, log on to www.rsmequico.com.