May 24, 2010. /Lesprom Network/. Cedar Creek and private equity firm Charlesbank Capital Partners announce a recapitalization whereby Charlesbank will acquire majority ownership of Cedar Creek. Cedar Creek is the largest cedar distributor in the United States. The business was the long-time target of Charlesbank, who had been planning a platform acquisition in the wholesale building materials distribution industry for over a year. This new partnership brings together one of the biggest and best-performing companies in the wholesale building materials distribution industry with the strategic expertise and capital resources of Charlesbank. The transaction, which is structured as an asset purchase, will provide the Cedar Creek business with capital to grow organically and expand within the wholesale building materials distribution segment beyond its current trade areas. Cedar Creek is a leading wholesale building materials distribution company with headquarters in Tulsa and Oklahoma City. It is the country's premier cedar distributor and one of the largest lumber and manufactured wood distributors in the United States.