Former ProBuild CEO Paul Hylbert forms Kodiak Building Partners, plans to invest in building materials dealers with sales in US$10M-US$100M range
November 9, 2011
– The former CEO of ProBuild Holdings Paul Hylbert, and several former executives, have announced the formation of a building materials distribution company to be called Kodiak Building Partners.
The Denver-based company plans to invest in building products companies serving new residential, repair and remodeling, and commercial construction markets across the U.S., according to a press release issued by Kodiak on Nov. 7.
Kodiak plans to invest in businesses with sales in a US$10 million to $100 million range, providing support based on the needs of their local markets. The companies will retain decision-making authority, but will receive strategic and capital support from Kodiak.
Hylbert, who is Kodiak's chairman and CEO, said the company believes the time is right to acquire assets in the sector, because, although construction activity is weak, the sector is likely to recover. He said Kodiak was looking to partner with strong management teams to participate in the upturn.
Joining Hylbert at Kodiak is Steve Swinney, who will act as president and COO, and managing directors Kyle Barker, Brian Cleveringa and Eric Miller. Swinney was VP finance, planning and analysis at ProBuild, while Barker, Cleveringa and Miller worked in ProBuild’s financial division.
Kodiak purchased Barton supply, a Colorado fabricator and distributor of structural and reinforcing steel products and accessories, in July.
The primary source of this article is a press release issued by Kodiak Building Partners, Denver, Colorado, on Nov. 7, 2011.