Denver-based Kodiak Building Partners acquired Specialty Appliance, a Colorado-based appliance dealer that serves residential and pro markets. The company will join Kodiak's Interiors Group, one of its four segments.
Specialty Appliance was founded in 1998 by Denver natives Kirk Dryden and Greg Ulvedal. Both men will continue to run Specialty Appliance, under the leadership of industry veteran Doug Rapier, Kodiak announced.
"Specialty Appliance was started in 1998 with a small amount of family investment and with a business plan that was agreed to on the back of a napkin at Chili’s," said Dryden. "Now, we are very eager to be starting the next phase of our journey by joining the Interiors Group at Kodiak Building Partners.”
Also in the Kodiak Interiors group are Factory Builder Stores and Arizona Wholesale Supply.
Ulvedal added, “We started as an installation company, and now, Specialty Appliance has grown to employ more than 120 employees along the Front Range of Colorado. We look forward to working with the teams at Factory Builder Stores and Arizona Wholesale Supply in the coming years.”
Specialty Appliance operates five locations in Colorado: Denver, Greenwood Village, Fort Collins, Louisville and a new location in Colorado Springs. It serves builders, retail customers, designers and architects."
Kodiak Chairman Paul Hylbert described Specialty Appliance as a well-known player in the Colorado markets. "We are excited to add their team members into the Kodiak family, This is an important segment for us at Kodiak, and the team and management at Specialty Appliance reinforces our strength in multiple ways.”
Steve Swinney, CEO of Kodiak stated “We’ve enjoyed the process of getting to know the owners and team at Specialty. It is clear to us why they outperform the competition. They have built a sound foundation from which to grow from here. Like so many other founders or legacy management teams, they recognized that their next stage of growth could best be supported by Kodiak and that the best environment for their team was within the very decentralized culture that Kodiak offers. We are proud to add this top-notch company into our family. We know that the addition of Specialty Appliance to Arizona Wholesale Supply and Factory Builder Stores positions us as a substantial player in these product lines and geographies.”
The move extends Kodiak's holdings to 61 facilities in a handful of states. In addition to Interiors, the company's three other segments are Construction Supplies, Lumber and Building Materials and Commercial Drywall and Doors.