Capstone Holding Corporation announced its agreement to acquire stone building materials distributor Carolina Stone Products in the company’s financial release on Aug. 15.

Terms were not disclosed, but according to Investing.com, the purchase price was $3.9 million-$4.7 million.

Established in 2000, Carolina Stone Products is a privately-owned stone masonry company based in Raleigh, NC. The company offers several product lines, including cultured stone, StoneCraft, Dutch Quality Stone, Eldorado Stone, Horizon Stone and Pangaea natural stone. Carolina Stone reports approximately $11 million in annual revenue, which would increase Capstone’s current trailing twelve-month revenue of $43.38 million.

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Capstone, through its Instone subsidiary, currently operates in 31 U.S. states, supplying stone veneer, hardscape materials and modular masonry systems. The acquisition of Carolina Stone, at a purchase price estimated at 4.7 to 5.2 times its trailing EBITDA of $0.75 million, marks Capstone’s entry into the Southeastern U.S. market.

The acquisition is expected to be immediately accretive and will expand Capstone’s presence in the Southeast and broaden Instone’s distribution network.

“We’re advancing our acquisition of a Carolina Based Stone Company — a transaction that will be immediately accretive to revenue and EBITDA — and will expand our footprint into one of the fastest-growing markets in the country,” Capstone CEO Matthew Lipman said in the company’s financial release.

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The transaction is expected to close by the end of August.