April 09, 2019

Croft & Bender Serves as Financial Advisor to The Merit Distribution Group, a portfolio company of Centre Lane Partners, in its Sale to Center Rock Capital Partners

Croft & Bender, an Atlanta-based investment banking firm, is pleased to announce the successful sale of its client, The Merit Distribution Group (“Merit”), to Center Rock Capital Partners (“Center Rock”).

Headquartered in Spartanburg, South Carolina, Merit is the leading distributor of paint sundries and flooring products and installation supplies in the U.S. Merit distributes over 30,000 products from approximately 600 manufacturers who trust Merit to reliably deliver products to more than 11,000 customers in the Americas, as well as Australia and Poland. Merit is a critical link in the supply chain with warehousing, inventory management, and overnight and next day fulfillment capabilities. Merit services its customers from 10 distribution centers and 23 branch locations.

Croft & Bender served as the exclusive financial advisor to Merit on the transaction.  “The team at Croft & Bender was a pleasure to work with throughout the transaction process.  With Croft & Bender’s support and execution, we were able to find the optimal partner for our company,” said Mitch Jolley, CEO of Merit.  He continued, “Center Rock’s team demonstrated a deep understanding of our company’s capabilities, product portfolio, and customer centric culture.  With Center Rock as our partner, we are eager to pursue further growth via organic initiatives and acquisitions.”

“It was a pleasure to work with Mitch and the rest of the team at Merit.  We were happy to help achieve another successful exit for Centre Lane Partners,” commented Bo Briggs, Managing Director at Croft & Bender. “Together they have successfully built the leading paint sundries and flooring distribution platform in North America, with a strong track record of growth and expansion. With the support and operational expertise of Center Rock, we expect Merit to continue to expand its market-leading position."