American Builders Supply deal is in the books
Sanford, Fla.-based American Builders Supply was officially sold to Kodiak Finance, Inc., a subsidiary of Denver-based Kodiak Building Partners. ABS had previously been owned by private equity firm Blue Wolf Capital Partners of New York.
Plans for the deal were originally reported early last month.
ABS is the largest independent distributor and installer of doors, millwork, windows and trusses in Florida. Blue Wolf acquired ABS in early 2011, in partnership with the company’s founder, Chad Barton, when the company was struggling in the wake of the 2008 housing market crash.
Weyerhaeuser expands Homasote 440 SoundBarrier panels distribution
Weyerhaeuser Distribution has expanded its offering of Homasote 440 SoundBarrier panels to centers in Denver, Dallas, Houston and Tacoma, Wash.
Previously the sound-deadening product was successfully carried by distribution centers in California in Fresno, Stockton, Fontana and Santa Clarita, along with in centers in Boise, Idaho.
"We've been experiencing strong results of distributing these products in high density housing markets throughout California and feel there's a good fit for expanding that distribution into Texas, Washington and Colorado," said David Helmers, VP of Weyerhaeuser Distribution. "The capabilities of 440 SoundBarrier to control sound in floors, walls and ceilings can be a remarkable asset to any builder, but especially to those working in the multi-family housing market."
The 440 SoundBarrier is a special-density, structural board made from 100% environmental Homasote cellulose fiber containing 98% recycled product. The homogeneous composition is manufactured with uniformly distributed protection against termites, rot and fungi along with resistance to mold, mildew and moisture. The made in America boards also insulate, with twice the R-value of wood. Additionally, the boards can be applied directly to framing and come in a variety of sizes
"These lightweight boards are an excellent alternative to liquid gypsum on floors, and resilient channel or expensive gypsum sound boards on walls,” said Christine Lemonick, director of sales and marketing for Homasote.
Seattle-based Weyerhaeuser is one of the largest global forest products companies and produces a variety of building products including OSB and structural farming materials.
Kodiak forms new investment partnership
Kodiak Building Partners has formed a partnership with private equity firm Court Square Capital.
The move will fuel Kodiak’s ability to make additional acquisitions. According a press release issued by Kodiak, “Court Square has made a major investment in Kodiak to support both internal growth and expansion through acquisitions.”
Denver, Colo.-based Kodiak also announced that it has completed its acquisition of American Builders Supply, a pro dealer in Orlando, Fla. The move officially marks Kodiak’s expansion into Florida.
Regarding the partnership with Court Square Capital, Kodiak CEO Steve Swinney said, “We’ve been working on this combination with Court Square for some time now and feel that they are great partners for us. We share common values around maintaining strong customer-facing activities at the local level, the importance of a decentralized organization in our business, a broadly diversified product offering and giving back to our communities.”
Court Square said it has invested in more than 215 companies.
“We’ve had great support from our loyal investor group to get us to over $700 million in sales,” said Paul Hylbert, chairman of Kodiak Building Partners. “Now, with Court Square’s addition, we are excited about the opportunity to continue to build on Kodiak’s successful strategy and culture.”
Kodiak operates 53 locations in Arizona, Delaware, Colorado, Florida, Maryland, Massachusetts, Michigan and Texas.