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Phoenix-based Alliance Lumber of Arizona completed the acquisition of Central Arizona Truss (CAT). CAT, also based in Phoenix, designs and manufactures trusses for custom homes, remodels and additions in the Arizona and Southern California areas.
“The transaction was appealing to us because of the longstanding relationships we have with the Alliance team,” said Jeff Popour, former co-owner of CAT. “I know them and I trust them. I have maintained a relationship with several members of the management team for over 20 years. I have tremendous respect for what they have done in the market and the industry.”
Popour and his partners, Thomas Irvin and Richard Flores, bought CAT from Popour’s father and uncle in 2003, and the three of them operated the business until the recent transaction. CAT and Alliance Truss will now both market under Alliance Central Arizona Truss with Popour serving as President and Flores overseeing operations.
Terms of the deal were not released.
“Momentum is critical in this business and CAT positions us well to support the component growth coming. Jeff and his team have a great reputation in the market and have performed throughout the downturn. Ultimately we both felt we would be most successful playing for the same team.” said True Carr, Managing Partner of Alliance. “This strategic investment provides great opportunity for us and has further affirmed that CORNERSTONE Building Alliance was an ideal partner for us.”
In September, 2012 Cornerstone Building Alliance, based in Raleigh, N.C., acquired a majority interest in Alliance. Cornerstone CEO Steve Short added, “As a leading distributor in one of the top housing markets in the nation, Alliance is an excellent platform company for us in Arizona. Central Arizona Truss is a business that nicely complements Alliance and further enhances our component capabilities.”