Denver-based Kodiak Building Partners acquires New England Building Supply; chairman says strong presence in Boston offers platform for merged business to expand presence in eastern US
June 12, 2013
– Colorado based Kodiak Building Partners announced today the combination of Kodiak and New England Building Supply to expand their merged business in the Eastern U.S. market.
Kodiak Chairman, Paul Hylbert, said, “We are very excited about having New England Building Supply join our team. Tony Ciampaglio and Russ Smith have built a fine organization in Boston and developed a terrific business. In addition to giving us a strong presence in greater Boston, the company and capable people offer us a platform on which to grow throughout the Eastern Seaboard marketplace”.
New England Building Supply’s team of 61 people will remain in place, with Smith and Ciampaglio retaining leadership roles in the company and for the growth of this platform throughout the region. “We see this as an opportunity for growth,” explained Russ Smith. “In addition to expanding our business in greater Boston, we’re excited about growth well beyond our existing service area”.
Ciampaglio added, “Kodiak brings expansion capital to grow our business, and both Russ and I will be significant investors in Kodiak going forward as part of this transaction. We’ve known and worked with Hylbert and Steve Swinney, Kodiak’s President and COO, for many years and are excited to be joining forces to participate in the housing recovery together”.
Swinney added, “We expect this to be the first of many acquisitions to take place under the New England Building Supply leadership team”.
Terms were not disclosed.
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About the firms:
ew England Building Supply was founded in Boston in 1990. Situated right off I-93 near the center of the city, the company serves residential and commercial contractors doing both new construction as well as repair and remodeling work. With over 4 acres of warehouse and storage space and a drive-through lumberyard, the company offers a broad range of building products including lumber, millwork, gypsum, steel framing, roofing as well as hardware, cabinets, windows and doors.
Kodiak Building Partners was founded in Denver in 2011 to invest in building products distributors. The firm’s current portfolio of companies includes Barton Supply, a steel fabricator and distributor with 3 locations in Colorado, Gulf and Basco, a window, cabinet and appliance distributor serving greater Houston, and Great West Drywall Supply, a gypsum and accessories distributor also serving the Colorado market.