Fencing Group Supply acquires Binford Supply from U.S. Fence
U.S. Fence Solutions Company, LLC (U.S. Fence), a portfolio company of building industry-focused investment firm, Building Industry Partners LLC (BIP), has sold Binford Supply to Fencing Supply Group (FSG).
Launched late last month, FSG is a new investment platform focused on building a group of leading independent fencing distributors and is an affiliate of the Sterling Group, a private equity firm based in Houston.
FSG got off the ground with the acquisition of Merchants Metals on Feb. 26. Merchants is a national distributor of fence supplies with 35 branches and 4 manufacturing facilities across 28 states.
Based in Balch Springs, Texas, Binford Supply was founded in 1950 and has grown to become one of the largest residential and commercial fencing distributors in the U.S.
Led by company President Jeff Cook, Binford has over 150 employees across 13 locations, currently serving residential and commercial fencing contractors throughout Texas, Oklahoma, and Colorado. Binford’s product categories include wood, chain link, pipe and tube, ornamental, vinyl, gates and access controls, barbed wire, staining, concrete, agricultural, and fencing tools.
“Joining the FSG family of fencing distributors was the right next step for our entrepreneurial, customer-focused company,” Cook said. “We look forward to working towards the shared vision of growth in each of our businesses.”
Cook will continue to lead Binford following this transaction.
“Binford is the perfect addition to FSG because of its strong brand, its legacy of wood fencing leadership, its customer service model, and its passionate and dedicated team members. We are very excited to have Jeff and the entire Binford team join the FSG family,” said Brian Henry, partner at the Sterling Group.
Following this transaction, FSG now operates 46 branches across 29 states.
“We’re very proud of the business we’ve built at Binford Supply and the growth we’ve achieved amidst unprecedented market disruptions,” Cook added. “As a team, we’ve successfully opened three new branches in the last two years alone, and we’re just getting started.”
Zach Coopersmith, managing partner of Building Industry Partners, said, “We’re grateful for all of the hard work from Binford’s management team and employees over the past four years under BIP’s ownership. Their efforts were especially noteworthy during the last year as the Binford team continued to grow the business through the pandemic and react dynamically to the challenges it presented.”
Following the sale of Binford Supply, U.S. Fence intends to focus on growing its core fencing installation businesses.
“Our journey with Binford began many years ago through our relationship with its prior owner and CEO, Steve Stanley,” said Matt Ogden, managing partner of BIP. “We feel fortunate to have partnered with Steve in 2017, and later with Jeff Cook when he joined as President of Binford in 2018.”
U.S. Fence owns Split Rail Fence, the leading fencing installation business in the Front Range of Colorado; Ideal Fencing, the largest highway and bridge guardrail fabricator and fencing installer in Colorado; and Western Access Controls, a designer and installer of automated gate and access control systems, serving residential and commercial customers throughout the Rocky Mountain region.
BIP formed U.S. Fence in early 2016 and has been involved in the formation of several industry heavyweights, including US LBM, Kodiak Building Partners, and Homewood Holdings, which was acquired by American Construction Source last year.
Lincoln International and Holland & Knight served as financial advisor and legal counsel, respectively, as part of this transaction. Terms of the sale were not disclosed.