Livingstone Advises B.R. Johnson on Sale to Cook & Boardman
Livingstone is pleased to announce the sale of B.R. Johnson, LLC (“BRJ” or the “Company”) to a subsidiary of The Cook & Boardman Group LLC (“Cook & Boardman”). Livingstone acted as the exclusive financial advisor to the Company. The transaction closed in August 2024.
Founded in 1928 and based in East Syracuse, New York, BRJ is a leading, multi-location distributor of windows, doors, and specialty building products, proudly serving both commercial contractors and end users throughout Central New York.
BRJ engaged Livingstone to run a sale process to identify and secure a transaction with the best strategic partner that shared the Company’s commitment to delivering value to its suppliers and customers. Ralph Corlis, President of BRJ, commented, “We are thrilled to have found a world-class partner in Cook & Boardman to carry on BRJ’s legacy. I am extremely pleased with the first-class representation we received from Livingstone. They managed every step of the process, yielding an exceptional result.”
Managing Director at Livingstone Patrick Hopkins commented, “The BRJ transaction represents another successful outcome in the building products sector. The deal highlights ongoing robust M&A activity in commercial distribution via large, well-capitalized strategic acquirers. Our understanding of the product set, relevant buyer universe, and dynamics to drive value, enabled us to drive a successful outcome.”
Founded in 1955 and headquartered in Winston-Salem, North Carolina, Cook & Boardman is one of the nation’s leading specialty distributors of commercial doors, frames & hardware, electronic access control equipment and specialty (Division 10) products. Cook & Boardman is also one of the nation’s largest and fastest growing providers of integrated security solutions – including physical security, access control, wireless networking, low voltage cabling, audio/visual and managed information technology products. Cook & Boardman serves non-residential and multi-family markets including the commercial, education, government, healthcare, office and hospitality sectors from more than 70 locations across 23 states and nationwide through their ecommerce portal.
Platinum Equity acquired a majority interest in Cook & Boardman in 2023. Littlejohn & Co., LLC remains a significant minority shareholder.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in growing middle-market industrial and services companies that can benefit from Littlejohn’s 25+ years of operational and sector expertise. With approximately $8 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change.
Calfee, Halter & Griswold LLP served as legal counsel and Fourth Level Holdings LLC provided additional transaction-related advisory services to the Company. K&L Gates LLP served as legal counsel to Cook & Boardman.
