Southeast Building Supply Interests acquires Wallace Building Supply
Southeast Building Supply Interests (SBSI), the dealer platform established by LBM investment firm Building Industry Partners (BIP), has acquired Wallace Building Supply.
Wallace is SBSI’s first location in Tennessee. The financial terms of the acquisition were not disclosed.
“It has been a privilege to get to know the Wallace family, and our team is honored to partner with them on this next phase of growth,” said Roger Farmer, president of SBSI. "Wallace Building Supply is a cornerstone of the community, and we plan to continue in that tradition in service of our customers.”
Under Farmer’s leadership, Ronnie Wallace will continue in his role as president of Wallace Building Supply. Mark Wallace has been promoted to director of sales, an acknowledgment of his leadership in customer service, SBSI said.
All SBSI employees, including all Wallace employees, participate in SBSI’s employee equity ownership program.
“It was critical that we find a group that is committed to creating opportunities for our employees and for the community,” Ronnie Wallace said. “Our family spent a lot of time getting to know the team at SBSI and BIP, and we are confident that they are the right partner for this next phase of growth. We look forward continuing to serve our customers and the community.”
Pat Mascia, partner at BIP and SBSI board member, commented, “We have an immense amount of respect for the Wallace family and the role that Wallace Building Supply has played in building the community. Ronnie, Randy, Kim, and Melanie can tell a story about the building of many of the homes in Clarksville, Stewart County, and beyond. We are humbled to be their partner of choice.”
Founded in 1978, Wallace Building Supply is a single-unit dealer based in Indian Mound, Tenn. Wallace's facilities include 13 acres and 121,433 square feet of space under one roof.
SBSI said that it is actively seeking to invest in lumber and building materials companies in the Southeast and will work tirelessly to elevate the employee value proposition at all companies that join the SBSI family of businesses.
Following this acquisition, SBSI now operates nine lumber and building material facilities in Georgia, North Carolina, South Carolina, and Tennessee.
Partners involved in this opportunity were Holland & Knight LLP, Fifth Third Bank, Intrinsic LLC, CBIZ Insurance Services, Inc., and Siguler Guff & Company. 1st West Mergers and Acquisitions advised the Seller.
BIP founded SBSI in July 2021 with the acquisition of the assets of the Warner Robins family of businesses: Warner Robins Building Supply Co., Henson Building Materials, and Mountain Building Supply.
Founded in 2008, BIP is headquartered in Boston, with operating partners and advisors across the U.S.
Over the past decade, BIP is been part of building some of the fastest-growing businesses in the U.S. building industry’s middle market, including U.S. LBM Holdings, Kodiak Building Partners, Homewood Holdings, and U.S. Fence Solutions/Binford Supply.
