Matrix Capital Markets Group announced the successful sale of CMA Supply to Carter-Waters, a Kansas City, MO-based portfolio company of Merit Capital Partners and Aiglon Capital Management. The acquisition forms a 17-location platform across Indiana, Ohio, Kentucky, Missouri, Kansas and Illinois.

Matrix served as exclusive advisor to CMA Supply. The transaction was led by Andrew Chidester and Braden Hill. Faegre Baker Daniels acted as legal advisor to CMA Supply on the transaction. Carter-Waters was represented by Reinhart Boerner Van Deuren.

CMA Supply is a regional distributor of concrete and masonry products and accessories to professional contractors in the residential, commercial, and industrial end-markets.

Carter-Waters provides construction materials and rental equipment throughout the Midwest.

Bill Updike, president of CMA Supply, commented, “This was a complex assignment due to the number of entities involved, the decentralized nature of our operations and the diversity of goals for the shareholder base. The Matrix team overcame every obstacle and guided us to a successful transaction for all concerned.”

Matrix Capital Markets Group is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA.