BEDMINSTER, NJ, March 18, 2024 (GLOBE NEWSWIRE) — via NewMediaWire – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), the holding company for Peapack-Gladstone Bank and its Investment Banking division, Peapack Private Investment Banking, is pleased to announce its participation in the transition of Super Stud Building Products Inc. and affiliates, owned and operated by Ray Frobosilo, Sr., to EB Metals Inc. and affiliates. The financial terms of the sale were not disclosed.
Ray Frobosilo, Sr. and his family are recognized as industry pioneers in manufacturing and diverse offerings of cold-formed steel framing components, hollow metal doors and frames, and accessories for the use in the construction of commercial, institutional, and residential structures. EB Metals Inc., another highly successful business, was the perfect fit to create an enterprise that will have an expanded product offering and enhanced service capabilities, operating from manufacturing sites along the East Coast in Alabama, New Hampshire, New Jersey, and Mississippi. Super Stud and EB Metal’s commitment to quality products, prompt service, and technical engineering resources ensures unmatched building product solutions that meet the needs of some of the most complex projects in the building industry.
Ray Frobosilo, Sr. said, “Ryan Filion, the CEO of EB Metals, has extensive knowledge of the drywall distribution marketplace and will help leverage a wider distribution of our product line. I’m confident Ryan’s stewardship will continue the same commitment to excellence in serving our customers that we’ve practiced for over 50 years.”
Established in 2019, Peapack Private Investment Banking works collaboratively to assist business owners in navigating smoothly through unique complex financial strategies, and takes pride in providing leadership expertise and advice with every transaction and interaction. The team provides a full-range of corporate advisory services and direct lending solutions to middle-market companies and their owners across all industry sectors. This deal represents another successful transaction in the building materials industry for Peapack Private Investment Banking. “Being able to stand by our clients as they grow, and then help them realize the value of the business they built over many years and help them to manage that wealth for generations, defines the service model we provide. We are proud to represent Ray with this significant event and look forward to watching the legacy he built over the past 50 plus years shine under the stewardship of EB Metals,” said Eric H. Waser, Executive Vice President, Head of Investment Banking. Eric; Matthew Luczyk, Head of Corporate Advisory at Peapack Private Investment Banking; and Al Flexon, Senior Analyst, were integral to the success of this transaction.
About the Company
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $6.5 billion and assets under management and/or administration of $10.9 billion as of December 31, 2023. Founded in 1921, Peapack-Gladstone Bank is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and retail solutions. Peapack Private offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service. Visit www.pgbank.com and www.peapackprivate.com for more information.
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