Partners with Bonwell Family to Build on Legacy
LITTLE ROCK, AR – DECEMBER 15, 2022 – Pearlman Group (“Pearlman”), a portfolio company of The Stephens Group, LLC (“The Stephens Group”) and a leading multi-channel developer and specialty distributor of supplies, tools, and equipment used in the fabrication, maintenance, cleaning, and restoration of surfaces for residential, commercial, and industrial end-markets, announced that it has acquired Advantage Marketing, Inc. dba Advantage Experts in Clean (“Advantage”). Terms of the transaction were not disclosed.
Based in Indianapolis, IN with additional locations in Novi, MI and Cincinnati, OH, Advantage is a distributor of professional cleaning and restoration chemicals, supplies, and equipment to the Midwest. In addition to supporting product needs, Advantage offers a full suite of equipment service, education, and rental capabilities. Founded by the late Bob Bonwell in 1984, Advantage has grown for nearly four decades to become a respected resource in the industry with a relentless focus on customer service and education. Bob’s imprint on the cleaning and restoration industry can be felt in Advantage’s thousands of customer and vendor relationships and industry advancements including Purdue University’s disaster restoration degree program which Bob was instrumental in developing. Bob’s legacy has been carried on by his daughter Kristen and son Mike, both of whom will continue to lead the Advantage business in partnership with Pearlman.
“We are very pleased the Bonwell family has selected Pearlman as the right partner to build on Advantage’s storied history and legacy as an entrepreneurial distributor,” said Pearlman CEO Scott McLendon. “Our shared values will allow us to support Advantage in its next chapter while maintaining its unique culture, success factors, and the legacy created by the Bonwell family.”
Grant Jones, Managing Director at The Stephens Group added, “As a multi-generational family office built on the heritage of the Stephens family, we are thrilled to support Pearlman in its partnership with Advantage as these businesses build on our shared principles of long-term growth and sustainable value.”
“We chose to partner with Pearlman Group because of their mission, respect for our legacy, and customer-centric approach to growth. Our partnership allows Advantage to better serve our customers and our team members in a variety of ways. We couldn’t be more excited about Advantage’s future with Pearlman Group,” said Kristen Bonwell. “I am overwhelmed with emotion for our family, team, and customers. With this partnership I am excited to grow our company’s family with people I have known for years and respect. Adding fresh faces will provide us support and help us excel in areas where we are already strong. Lastly, I hope to learn from our new partners, share this knowledge, and better support our customers,” added Mike Bonwell.
ABOUT PEARLMAN GROUP
Headquartered in Suwanee, GA, Pearlman, through its brands, GranQuartz, Vector Tools, Pearl Abrasive, Excel Supplies, Cleansource, and Cleaners Connection, is a multi-channel developer and distributor of supplies, tools and equipment used in the fabrication, maintenance, cleaning, and restoration of surfaces for residential, commercial, and industrial end markets. Pearlman’s GranQuartz division is the market-leading distributor serving thousands of stone fabricators, tile installers, and concrete and monument professionals. Vector Tools is a mobile-centric distributor of stone fabrication tools and supplies in the Southeast. Pearl Abrasive is a leading developer and provider of high quality, branded abrasives and cutting tools to thousands of customers in construction and industrial end-markets. Excel Supplies, Cleansource, and Cleaners Connection are specialty distributors of professional cleaning, restoration, pressure washing, and janitorial equipment and supplies.
Headquartered in Indianapolis, IN, Advantage is a leading supplier of consumables, supplies, and equipment to the professional cleaning and restoration industries throughout the Midwest. From the Company’s Indianapolis headquarters and regional locations in Novi, MI and Cincinnati, OH the Advantage team serves thousands of professional cleaning and restoration contractors across the region. Advantage’s industry-leading service capabilities and educational support provide a differentiated approach to problem solving.
ABOUT THE STEPHENS GROUP, LLC
The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With nearly $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, technology infrastructure and vertical software.
Principal, Business Development
The Stephens Group, LLC