On the roof: Acquisitions
Consolidation continues in the roofing and exterior products channel, with two of the largest players—Bradco and Beacon—making acquisitions last month.
Bradco Supply acquired Insulation Systems Inc. (ISI), a distributor of commercial roofing products with three offices throughout North Carolina. The move marks Bradco’s sixth expansion or acquisition over the past 12 months, and the Avenel, N.J.-based distributor is hungry for more.
ISI will continue to operate under its own name in Greensboro, Charlotte and Raleigh.
Bradco currently operates more than 130 locations throughout 30 states. In October it acquired Premier Supply of Denver, and in June it purchased Dynamic Roofing & Siding Supply of Warminster, Pa. Last April, Bradco acquired Quality Roofing Supplies of Schenectady, N.Y.
Beacon Roofing Supply entered the Orlando market with the purchase of Independent Building Materials (IBM), a distributor of mostly residential roofing systems and related accessories. The company said it hopes to expand its footprint in Florida, where it currently has branches in Miami and Jacksonville.
Peabody, Mass.-based Beacon operates 174 branches in 37 states plus Canada. In December 2009 it entered the Chattanooga market with the purchase of a one-unit Tennessee distributor.
ProBuild to add units in Utah, Virginia
ProBuild Holdings has announced the opening of new locations in Orem, Utah, and Winchester, Va.
The Orem location, aformer Capital Building Supply location that had vacated the property earlier this year, will open with nine employees. It is ProBuild’s fourth in the state of Utah, joining Heber City, Midvale (Salt Lake City) and Ogden. The Orem facility will contain a millwork shop and has already been certified by the Forest Stewardship Council (FSC).
The Winchester location, formerly operated as Glaize Components, will extend ProBuild’s capabilities to serve the Washington, D.C./Baltimore markets. Winchester will manufacture components including roof trusses, floor trusses and wall panels. The 18-acre site will also feature a full-service lumberyard.
“We continue to see opportunities where we can expand into new markets to better serve our customers,” said ProBuild senior VP corporate development Michael Mahre, who just joined the company this week. “These new locations are great instances where we can bring the market-leading value of ProBuild’s products and services to serve strong and growing markets.”
ProBuild is the nation’s largest LBM chain, with more than 470 locations serving 42 states.
Stock names new VP sales
Stock Building Supply, an affiliate of The Gores Group, has hired Nigel Stobart as VP sales. Stobart will lead Stock’s sales teams, as well as sales-related initiatives.
Stobart has been serving as strategic adviser to Raleigh, N.C.-based Stock in connection with its process improvement initiatives.
“I am very excited to join Stock at such an important and exciting point in its history,” Stobart said in a prepared statement. “Every sale starts with fulfilling a customer’s need. I have been impressed with the significant efforts Stock has taken in the sales arena and look forward to further sharpening the company’s focus. I have dedicated a significant portion of my career to supporting the sales process and know that our efforts will strengthen our position as an independent, stand-alone company with a sound strategy.”
Stobart most recently served as senior VP and chief operating officer for Wire One Communications in Pennsylvania. In this role, he led restructuring initiatives and managed the service and product operations, as well as the human resources team.
Prior to Wire One, he served as senior director of sales operations for the professional business group at Gateway. Before that, he was with Bain & Co., advising his clients on mission-critical projects. Stobart holds a bachelor of economics and a law degree from Monash University in Melbourne, Australia, as well as an MBA from the University of Chicago. Before attending business school, Stobart held positions with law firms in Melbourne and London.
“He brings tremendous experience, and we are fortunate to have him lead this critical function,” said Stock CEO Joe Appelmann.