Southeast Building Supply Interests makes a deal
Southeast Building Supply Interests, a platform company of the building industry-focused private equity investment firm Building Industry Partners, has acquired Haywood Builders Supply in Waynesville, N.C.
Haywood is SBSI’s second location in the greater Asheville area along with Henson Building Supply in Black Mountain, North Carolina.
In support of SBSI’s growing presence in the area, LBM industry veteran Robert Gordon has joined as vice president and leader of the Asheville market. Gordon was previously an accomplished general manager with Builders FirstSource and 84 Lumber.
Danny Wingate, a long-time senior leader at Haywood, has been promoted to president of Haywood where he will continue to ensure customer and community focus.
SBSI is building a regional pro-dealer organization that is committed to aligning interests with its workforce and being the employer-of-choice in its markets.
As part of this commitment, all SBSI employees, including all Haywood employees, participate in SBSI’s employee equity ownership program.
In June, SBSI acquired Wallace Building Supply in Clarksville, Tennessee.
SBSI is led by President Roger Farmer, who shared, “Our team is looking forward continuing Haywood’s decades long tradition of customer service and community involvement. This is a thriving region, and we are excited to expand our ability to serve the area’s builders.”
Wingate, who recently celebrated his 50th anniversary at Haywood, added, “SBSI’s commitment to our people and the community was the right fit for our team. We are excited to enter this next phase of growth.”
“Haywood has a tremendous history in the Waynesville community, and I’m honored to work with Danny (Wingate) on this next phase," Gordon said. "We’re committed to ensuring our customer service is top-notch and that Haywood is a wonderful place to come to work every day.”
Pat Mascia, partner at BIP, commented, “Haywood is a natural fit for SBSI’s growth strategy, and we are grateful to the team for their trust in us and commitment to performance in this next phase. We strive to be the buyer of choice for companies like Haywood, and this acquisition is continued evidence of our progress towards this goal.”
Matt Ogden, Managing Partner at BIP, added. “Given Haywood’s history as an ESOP, this is an excellent opportunity to carry forward their existing culture of ownership by extending employee ownership into this next phase of the company’s history. We look forward to learning from their experiences as we advance our employee ownership approach to maximize impact for all shareholders and employees”
Earlier this month, BIP launched the new West Coast Lumber (WCL) with four locations in Southern and Central California along with sights set on future expansion on the near horizon.
