East Hartford-based NEFCO, a construction supply company, has announced a new private equity partnership with Leonard Green & Partners (LGP).
NEFCO, which sells building site supplies from 70 different locations around the country, was formerly a portfolio company of Bertram Capital.
Terms of the deal were not disclosed
Bertram’s investment in the company in 2022 began a period of rapid growth for NEFCO, which expanded via numerous acquisitions, including recently in Massachusetts, Texas, Louisiana, South Carolina, Kentucky, Ohio and Indiana.
“We are deeply grateful to Bertram Capital, who have been extraordinary partners over the past several years and instrumental in helping us accelerate our growth and build the foundation we are scaling today,” said CEO Matthew Gelles. “As we enter our next chapter, LGP brings the experience, resources, and shared values that will help propel our continued expansion.”
Last year, NEFCO sold its 139,000-square-foot East Hartford headquarters for $11.5 million and then leased the building back.
Los Angeles-based Leonard Green & Partners says it will partner with NEFCO to accelerate growth in key markets. The firm says it has over $75 billion of assets under management.
