Several former executives from ProBuild Holdings, led by former CEO Paul Hylbert, have announced their plans to form a building materials distribution company called Kodiak Building Partners.
Based in Denver, Kodiak will invest in building products companies serving new residential, repair and remodeling, and commercial construction markets across the United States, according to the announcement. The company and its investor partners are looking for businesses in the $10 million to $100 million sales range where it can support management and help grow the business. Kodiak will provide capital and strategic support to allow its operating partners to make the decisions locally, which reflect conditions in their individual markets, according to its principals.
“We believe the time is right to acquire assets in this space,” said Hylbert, Kodiak chairman and CEO. “While construction activity in general remains very weak, we believe that this business will recover and are looking to partner with strong management teams to participate in the upturn.”
Joining Hylbert at Kodiak is Steve Swinney, who will act as president and COO, as well as Kyle Barker, Brian Cleveringa and Eric Miller, who will be managing directors. Swinney is a former VP finance, planning and analysis at ProBuild. Barker, Cleveringa and Miller also worked in ProBuild’s financial division.
Last July, Kodiak purchased Barton Supply, a Colorado fabricator and distributor of structural and reinforcing steel products and accessories. The company serves both the commercial and residential markets through its general contractor, foundation and framing sub-contractor, and home builder customers from locations in Aurora, Colorado Springs and Fort Collins, Colo.