Capstone to Acquire Carolina Stone Products-Immediately Accretive to Revenue and EBITDA; Closing Targeted by August 22, 2025
Capstone Holding Corp. (NASDAQ:CAPS) has signed a definitive agreement to acquire Carolina Stone Products for $3.9-$4.7 million, representing a 4.7脳-5.2脳 EBITDA multiple. The acquisition, expected to close by August 22, 2025, will be immediately accretive to revenue and EBITDA.
Carolina Stone Products generates approximately $11 million in revenue and $0.75 million in LTM EBITDA, with projected 2026 EBITDA of $1.001 million. The deal marks Capstone's entry into the Southeast market and adds premium brands to its portfolio. The company reported improved Q2 performance with gross margins increasing to 24.4% from 21.4% year-over-year.
Capstone plans at least one additional acquisition by year-end 2025, targeting a ~$100 million revenue run-rate entering 2026. The company maintains a disciplined acquisition pipeline at 4-6脳 EBITDA valuations with 20-45% non-cash consideration.
Capstone Holding Corp. (NASDAQ:CAPS) ha firmato un accordo definitivo per acquisire Carolina Stone Products per 3,9-4,7 milioni di dollari, corrispondenti a un multiplo di 4,7脳-5,2脳 sull鈥橢BITDA. L鈥檕perazione, che dovrebbe concludersi entro il 22 agosto 2025, sar脿 immediatamente accretiva per ricavi ed EBITDA.
Carolina Stone Products realizza circa 11 milioni di dollari di ricavi e 0,75 milioni di dollari di EBITDA negli ultimi 12 mesi, con un EBITDA previsto per il 2026 di 1,001 milioni di dollari. L鈥檃ccordo segna l鈥檌ngresso di Capstone nel mercato del Sudest e aggiunge marchi premium al suo portafoglio. La societ脿 ha registrato un miglioramento delle performance nel Q2, con un aumento dei margini lordi al 24,4% rispetto al 21,4% anno su anno.
Capstone prevede almeno un鈥檜lteriore acquisizione entro la fine del 2025, puntando a un run-rate di ricavi di circa 100 milioni di dollari all鈥檌nizio del 2026. L鈥檃zienda mantiene una pipeline di acquisizioni disciplinata con valutazioni di 4-6脳 EBITDA e una componente di corrispettivo non in contanti del 20-45%.
Capstone Holding Corp. (NASDAQ:CAPS) ha suscrito un acuerdo definitivo para adquirir Carolina Stone Products por 3,9-4,7 millones de d贸lares, lo que representa un m煤ltiplo de 4,7脳-5,2脳 sobre el EBITDA. La adquisici贸n, prevista para cerrarse antes del 22 de agosto de 2025, ser谩 inmediatamente acrecentadora para los ingresos y el EBITDA.
Carolina Stone Products genera aproximadamente 11 millones de d贸lares en ingresos y 0,75 millones de d贸lares en EBITDA 煤ltimos 12 meses, con un EBITDA proyectado para 2026 de 1,001 millones de d贸lares. La operaci贸n marca la entrada de Capstone en el mercado del sureste y a帽ade marcas premium a su cartera. La compa帽铆a inform贸 una mejora en el desempe帽o del segundo trimestre, con m谩rgenes brutos que aumentaron al 24,4% desde el 21,4% interanual.
Capstone planea al menos una adquisici贸n adicional antes de finalizar 2025, con el objetivo de alcanzar un run-rate de ingresos de ~100 millones de d贸lares al inicio de 2026. La empresa mantiene una tuber铆a de adquisiciones disciplinada con valoraciones de 4-6脳 EBITDA y una contraprestaci贸n no en efectivo del 20-45%.
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Capstone Holding Corp. (NASDAQ:CAPS) a sign茅 un accord d茅finitif pour acqu茅rir Carolina Stone Products pour 3,9鈥�4,7 millions de dollars, soit un multiple de 4,7脳鈥�5,2脳 de l鈥橢BITDA. L鈥檃cquisition, qui devrait 锚tre finalis茅e d鈥檌ci le 22 ao没t 2025, sera imm茅diatement accretive au chiffre d鈥檃ffaires et 脿 l鈥橢BITDA.
Carolina Stone Products g茅n猫re environ 11 millions de dollars de chiffre d鈥檃ffaires et 0,75 million de dollars d鈥橢BITDA sur les 12 derniers mois, avec un EBITDA projet茅 pour 2026 de 1,001 million de dollars. Cette transaction marque l鈥檈ntr茅e de Capstone sur le march茅 du Sud-Est et enrichit son portefeuille de marques premium. La soci茅t茅 a fait 茅tat d鈥檜ne am茅lioration de ses r茅sultats au T2, les marges brutes passant de 21,4% 脿 24,4% en glissement annuel.
Capstone pr茅voit au moins une acquisition suppl茅mentaire d鈥檌ci la fin 2025 et vise un run-rate de chiffre d鈥檃ffaires d鈥檈nviron 100 millions de dollars au d茅but de 2026. La soci茅t茅 maintient un pipeline d鈥檃cquisitions disciplin茅 脿 des valorisations de 4鈥�6脳 EBITDA avec une contrepartie non mon茅taire de 20鈥�45%.
Capstone Holding Corp. (NASDAQ:CAPS) hat eine verbindliche Vereinbarung zur 脺bernahme von Carolina Stone Products 蹿眉谤 3,9鈥�4,7 Mio. USD unterzeichnet, was einem EV/EBITDA-Multiple von 4,7脳鈥�5,2脳 entspricht. Die Transaktion, die voraussichtlich bis zum 22. August 2025 abgeschlossen wird, wird sofort umsatz- und EBITDA-steigernd wirken.
Carolina Stone Products erwirtschaftet rund 11 Mio. USD Umsatz und 0,75 Mio. USD LTM-EBITDA, mit einem 蹿眉谤 2026 prognostizierten EBITDA von 1,001 Mio. USD. Der Deal markiert Capstones Eintritt in den S眉dostmarkt und erg盲nzt das Portfolio um Premium-Marken. Das Unternehmen meldete eine verbesserte Q2-Performance mit einer Steigerung der Bruttomargen von 21,4% auf 24,4% im Jahresvergleich.
Capstone plant mindestens eine weitere Akquisition bis Ende 2025 und zielt darauf ab, zu Beginn 2026 eine Umsatz-Runrate von rund 100 Mio. USD zu erreichen. Das Unternehmen h盲lt eine disziplinierte Akquisitions-Pipeline bei Bewertungen von 4鈥�6脳 EBITDA mit einer 20鈥�45% nicht zahlungswirksamen Gegenleistung.
- Immediately accretive to revenue and EBITDA upon closing
- Q2 gross margins improved to 24.4% from 21.4% year-over-year
- Strategic expansion into Southeast's fast-growing construction markets
- Clear path to ~$100 million revenue run-rate by 2026
- Disciplined acquisition strategy with favorable 4-6脳 EBITDA multiples
- Significant portion of purchase price (20-45%) in non-cash consideration may lead to dilution
- Integration risks associated with geographic expansion into new territory
Insights
Capstone's acquisition of Carolina Stone adds strategic Southeast presence at attractive 4.7-5.2x EBITDA multiple with immediate accretion.
This acquisition of Carolina Stone Products represents a strategic expansion into the Southeast market for Capstone Holding Corp., marking their entry into one of America's fastest-growing construction regions. The deal's structure reveals disciplined capital deployment at a 4.7-5.2脳 EBITDA multiple, positioning it at the lower end of their stated 4-6脳 EBITDA target range for acquisitions.
The
What's particularly noteworthy is the explicit mention of margin expansion opportunities. Capstone's Q2 results showed gross margins climbing to
The disclosure that multiple additional targets are under review at similar valuation multiples, with
Deal adds premium brands and North Carolina footprint; pipeline remains active at 4-6脳 EBITDA valuation range with 20
NEW YORK, NY / / August 18, 2025 / Capstone Holding Corp. (NASDAQ:CAPS), a national building products distribution platform, today announced it has signed a definitive agreement to acquire Carolina Stone Products, with closing targeted by August 22, 2025, subject to customary conditions. .
Transaction Highlights
Target: Carolina Stone Products (North Carolina)
Closing: Targeted by August 22, 2025
Financials (trailing):Revenue 鈮�
$11 million ; LTM EBITDA 鈮�$0.75 million / 2026 鈮� 1.001 millionPurchase price / multiple:
$3.9 -$4.7 million (~4.7脳-5.2脳 EBITDA)Accretion: Immediately accretive to revenue and EBITDA at close
Strategic fit: Expands Southeast footprint; adds premium brands; supports margin expansion
Management estimate of 2026 EBITDA contribution
Carolina Stone Products Acquisition - The transaction will add Carolina Stone's premium brands and loyal customer base to Capstone's portfolio. It is expected to be immediately accretive to revenue and EBITDA and will mark Capstone's entry into the Southeast, one of the nation's fastest-growing construction markets.
"With a foothold in the Carolinas, we'll begin getting Instone products on the ground right away-a key step toward share gains and margin expansion," said Matthew Lipman, CEO. "We are delivering on our 2025 plan: immediately accretive acquisitions, a disciplined pipeline at 4-6脳 EBITDA, and a clear path to a ~
"We couldn't be more thrilled about joining the Capstone family," added Stuart Powell, Carolina Stone
Products EVP. "We believe the additional products for our customers to access along with an ability to
serve our large, production builders in new markets via the Capstone reach will make us an even more
valuable partner."
Additional Acquisitions - Capstone expects to close at least one additional acquisition by year-end 2025. Multiple targets are under review at 4-6脳 EBITDA valuations, with 20
The company's disciplined approach to M&A has fueled significant platform growth. Previous acquisitions - including HHT's stone business, Heller's Stone, and Northeast Masonry - have expanded Capstone's footprint, lowered costs, strengthened supply chains, and elevated customer service.
"In building products, scale matters," Lipman added. "Larger companies enjoy competitive advantages like pricing power, operational leverage, and broader reach. Our platform and team give us the ability to capture those benefits and deliver long-term value creation."
In addition to pipeline progress, Capstone last week reported that Q2 gross margins rose to
"We're doing what we set out to do," said Lipman. "With our flexible capital structure and deep sector expertise, we're well-positioned to continue executing on our strategy in the months ahead."
About Capstone Holding Corp.
Capstone Holding Corp. (NASDAQ:CAPS) is a diversified platform of building products businesses focused on distribution, brand ownership, and acquisition. Through its Instone subsidiary, Capstone serves 31 U.S. states, offering proprietary stone veneer, hardscape materials, and modular masonry systems. The company's strategy combines disciplined M&A, operational efficiency, and a growing portfolio of owned brands to build a scalable and durable platform.
Investor Contact:
Investor Relations
Capstone Holding Corp.
[email protected]
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events and performance, including guidance regarding revenue and EBITDA targets, M&A strategy, use of capital, and operating outlook. Actual results may differ materially from those projected due to a range of factors, including but not limited to acquisition timing, macroeconomic conditions, and execution risks. Please review the Company's filings with the SEC for a full discussion of risk factors. Capstone undertakes no obligation to revise forward-looking statements except as required by law.
SOURCE: Capstone Holding Corp.
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FAQ
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