Capstone Holding Corp. said it has signed a non-binding letter of intent to acquire an undisclosed multi-location stone distribution business with about $15 million in annual revenue.
The deal would expand Capstone’s geographic reach and strengthen its position in the U.S. building materials market. The company expects to complete the transaction within 45 days, pending a definitive agreement and customary closing conditions.
“This agreement reflects our focus on disciplined growth,” said Matt Lipman, chief executive officer of Capstone. “It expands our footprint, adds new customer relationships, and aligns with our strategy to build a broad national platform.”
The target company distributes stone and hardscape materials across multiple regions. Capstone said the purchase price will be based on the business’s net asset value, with about half of the consideration structured as seller notes or contingent payments.
Capstone has been expanding through a mix of acquisitions and organic growth. The company said it plans to continue acquiring regional distributors that complement its Instone subsidiary, which serves 31 states with stone veneers, hardscape, and masonry products.
“This transaction fits our long-term plan to strengthen our distribution network and serve customers more efficiently,” Lipman said.
Capstone Holding Corp. is a national building products distributor with operations focused on stone, hardscape, and masonry materials. Through its Instone subsidiary, Capstone partners with builders, contractors, and dealers across the United States.
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