Kodiak Building Partners revealed that it is solidifying its position in Colorado with the acquisition of Drywall Materials, LLC., which specializes in building products for residential and commercial drywall contractor customers.
According to terms of the agreement and a statement issued by both companies, Kodiak “would purchase substantially all of the operating assets” of Drywall Material Sales, with locations in Colorado Springs and Pueblo. The deal is scheduled to close by the end of the third quarter.
“We’ve been interested in joining forces with Drywall Material Sales for many years, and look forward to supporting the growth trajectory that the Drywall Material Sales team is on and feel they will be a significant contributor to Kodiak’s future,” Paul Hylbert, chairman of Kodiak, said in a press release.
“We look forward to working with the excellent Drywall Material Sales team, supporting their business and continuing to grow with them in Colorado,” said Steve Swinney, Kodiak’s CEO. “We feel we can leverage the Drywall Material Sales name and reputation and do more to serve their strong customer base. Most importantly, the Drywall Material Sales key management team including Robert Wupper, Jr, Bruce Hegemann, and Benjamin Wupper will continue with the company under the new ownership structure.”
Kodiak already operated five locations in Colorado under the Jones Heartz Building Supply and Barton Supply banners. Following the latest move, Kodiak operates 36 locations in Colorado, Delaware, Maryland, Michigan, New England, and Texas.