New CFO named at Kleer Lumber
Manufacturer Kleer Lumber has announced the appointment of Tom Demers as its first chief financial officer. Demers is a charter employee of Kleer Lumber, and previously served as the company’s VP finance. In his new role, Demers will focus on improving operational efficiencies and service levels and will strive to maintain Kleer’s competitive position for its expanding customer base. He reports directly to company president and CEO Walt Valentine.
Moving forward, all of Kleer Lumber operations will report to Demers. Jack Delaney, senior VP sales and marketing, will report directly to Valentine.
Headquartered in Westfield, Mass., Kleer Lumber is a manufacturer of free foam cellular PVC building products, including trimboard and molding.
The company increased its overall production by 40% last year and introduced new decking, adhesive and fastener product lines.
PulteGroup sells land assets in Colorado
Bloomfield Hills, Mich.-based PulteGroup has completed the sale of land approved for about 1,500 residences in Broomfield, Colo., to Wheelock Street Capital, a private real estate investment firm.
The transaction is for the remaining developed lots and undeveloped land in Anthem, Colo., a 1,700-acre master planned community in the northwest Denver metro area. The master plan includes Anthem Ranch and Anthem Highlands communities.
Terms of the transaction were not disclosed.
"We are very proud of the Anthem Highlands and Anthem Ranch communities, which are known for their spectacular array of amenities and for being a great place to call home," said Patrick Beirne, PulteGroup West Area president. "This sale is consistent with PulteGroup’s capital allocation strategy and overall focus on driving greater returns on invested capital."
Wheelock principal Dan Green said that Wheelock’s Denver partner, Jeff Handlin of Oread Capital and Development, would manage Anthem’s future development.
PulteGroup will maintain local customer service teams at Anthem and continue to provide warranty service to its current homeowners.
Washington roofing distributor sold
Intermountain Supply, a roofing distributor with branches in Seattle and Spokane, Wash., has been acquired by Roofing Supply Group, one of the largest wholesale distributors of roofing supplies and related materials in the United States. The purchase price was not disclosed.
Founded in 1995, Intermountain Supply is a portfolio company of The Sterling Group, a private equity investment firm.
Mike Farrell, president and CEO of Roofing Supply Group, said in a prepared statement: "We had identified Washington as an attractive market for RSG’s entry in 2011, and we are thrilled to partner with the IMS team to extend our footprint into this new geographic region."
Headquartered in Dallas, Roofing Supply Group operates 58 branches in 23 states. It provides one-step distribution services from roofing product manufacturers to roofing contractors and home builders. Each branch carries a complete line of roofing products for residential and commercial roofing, including composition asphalt shingles, underlayment and associated ancillary products.