Kodiak Building Partners enters Florida
Kodiak Building Partners agreed to acquire American Builders Supply based in Orlando, Fla. The move marks Kodiak’s first step into the Sunshine State.
American Builders Supply serves homebuilders across the state with truss, millwork, windows, doors, lumber, and related products. Mark Garboski, ABS chief operating officer, will lead the operation for Kodiak. The transaction is expected to close in the fourth quarter of 2017.
“This transaction represents our entry into the Southeastern United States, a strong, long-term growth market for building products. We are excited to partner with Mark and his extremely talented management team at ABS to continue to grow the company and our presence in Florida,” Steve Swinney, Kodiak CEO, said in a prepared statement.
Chad Barton, founder and Chairman of American Builders Supply added: “We are excited to have Kodiak as the new owner and partner of ABS and have confidence that their deep building products experience will allow ABS to continue to grow and prosper.”
Paul Hylbert, Chairman of Kodiak said, “We have been interested in expanding into the Florida market, and look forward to supporting the team at ABS as they continue the success story that they have written for the past several years. I am confident that ABS will be a key contributor to Kodiak’s future”.
Based in Littleton, Colo., Kodiak Building Partners currently operates 39 locations in Texas, Colorado, Michigan, Delaware, Maryland, and Massachusetts with a diverse array of products including lumber, fabricated steel and accessories, gypsum, commercial doors, millwork, cabinets and appliances.
Last month, Kodiak announced it was expanding operations in Colorado and acquiring Drywall Materials, LLC., which specializes in building products for residential and commercial drywall contractor customers.
Charity is par for the course
The U.S. LBM Foundation, a nonprofit organization founded by building materials distributor U.S. LBM Holdings, recently raised more than $140,000 for multiple charities through its second annual golf tournament.
“We created the U.S. LBM Foundation to give back to the communities where we live and work,” said L.T. Gibson, president and CEO of the U.S. LBM Foundation. “Thanks to the generosity of our sponsors, we’ll be able to provide financial support to several charities and causes across the country.”
The U.S. LBM Foundation partners with and awards grants to organizations that honor veterans and their families, provide housing to those in need, support the development and health of children, aid victims of natural disasters and promote the prevention and treatment of diseases. Since being established 2013, the Foundation has made contributions to several charitable organizations, including Habitat for Humanity, the ALS Association, National Multiple Sclerosis Society, Make-A-Wish Foundation, Operation Finally Home and Team Joseph.
The event was held at TPC Jasna Polana in Princeton, N.J., in late October.
Sponsors of this year’s tournament included AZEK Building Products, Debevoise & Plimpton, Boise Cascade, CertainTeed, ClarkDietrech Building Systems, MarinoWARE, PwC, GAF, Weyerhauser, Andersen Windows and Doors, Simpson Strong-Tie, the JIAN Group, Knauf Insulation, Trex, Huber Engineered Woods, KPMG, Deloitte, DuPont, Georgia-Pacific Gypsum, Honigman, Marvin Windows and Doors, Masonite, MasterBrand, Metrie, MI Windows and Doors, MiTek Builder Products, National Gypsum, PrimeSource, Royal Building Products, Southern Carlson, ThermaTru, Owens Corning, Ply Gem, Empire Moulding and LP Building Products.
Sales jump 7.3% at BMC Stock
BMC Stock Holdings, Inc., one of the nation’s largest pro dealers, reported third quarter 2017 net sales of $881 million, a 7.3% increase over sales of $821.2 million for the third quarter 2016.
The Atlanta-based pro dealer also reported a net income of $18.4 million for the quarter, doubling a net income of $9.2 million in the prior year period, which included a pre-tax loss on debt extinguishment of $12.5 million.
“We are pleased with our team’s ongoing execution and ability to deliver this solid performance despite the short-term impacts of Hurricanes Harvey and Irma on our Houston and Georgia operations,” Peter Alexander, president and CEO, noted in a press release issued by the company Monday morning. “We grew sales in our higher-margin structural components product category by 17.5%, driven, in part, by continued success of Ready-Frame. This whole-house framing solution remains an important contributor to our business, allowing us to differentiate BMC with our builder customers with a cost-effective and time-saving alternative as they face a very tight labor market.”
Breaking down net sales for the quarter, BMC Stock estimated that net sales increased 4.5% from lumber and sheet goods commodity price inflation, 2.3% from recent acquisitions and 0.5% from increased volumes. The increase in sales volume was negatively impacted by one less selling day during the quarter as compared to the third quarter of 2016, resulting in a 1.6% impact to net sales. Hurricanes Harvey and Irma are estimated to have decreased net sales by $12 million to $15 million during the quarter, the company said.
BMC operates in 43 metropolitan areas across 18 states, principally in the South and West.