RALEIGH, NC – A wood products investment group, Cornerstone Building Alliance, says it placed an initial investment in Phoenix-based ALC, Arizona’s largest building materials distributor.

Cornerstone bought majority control of ALC's Alliance Lumber, Alliance Truss, Arizona Structural Laminators, Core Materials Distribution and ALC Transportation. ALC will post revenue of $100 million this year, up from $60 million last year, according to the Phoenix Business Journal.

Cornerstone targets  one-step manufacturers, distributors and installers of dimensional lumber, engineered wood, roof and floor trusses, wall panels, sidings, windows, exterior doors and millwork, roofing, drywall, interior doors and millwork, cabinets and countertops, with annual revenues of $10 million to more than $100 million. It was founded Stephen Short and and Fenton Hord.