New South Construction terminates deal to buy American Contractor's Supply
New South Construction Supply has terminated its agreement to acquire American Contractor’s Supply, a distributor and supplier of tilt-up products based in Atlanta.
The acquisition of ACS had been announced in late April and was expected to close in the second quarter.
“As the deal got closer, it was apparent to me that this was not the right time to sell ACS. My customers and associates feel strongly that we are on a great path and selling the business, at this time, would be an unnecessary distraction. I still firmly believe that New South is the right buyer for ACS, when the time is right for us to sell,” said Jason Reuter, president and CEO of American Contractor’s Supply.
Jim Sobeck and Abhi Singh, CEO and COO of New South Construction Supply both agree, “While we are disappointed that this deal did not reach the finish line, we understand Jason’s change of heart in selling his business. For over 20 years, he has built ACS into a regional leader, and we understand his desire to continue on his current path. We have no doubt that ACS will continue to do great things.”
Based in Greenville, South Carolina, New South is a distributor of construction products to commercial and residential general contractors and subcontractors across the Southeastern United States
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