The combined Transaction represents Homewood’s fifth operating
company acquisition and expands Homewood’s millwork offerings and
geographic footprint in the western U.S.
CHANDLER, Ariz.–(BUSINESS WIRE)–Homewood Holdings LLC (“Homewood”), a portfolio company of the
investment firm Building Industry Partners LLC (“BIP”), has acquired the
assets of The Door Mill Inc. and Valley View Window and Door LLC
(collectively “TDM” or “the Company”) from their owners, Kelly Slade and
Joel Lacy. Kelly and Joel have been with TDM for 35 years and 25 years,
respectively, and have owned the Company since 2003.
Founded in 1984, TDM is one of greater Phoenix’s largest distributors of
residential interior and exterior doors, molding, trim, hardware, and
windows, serving local and regional builders of single-family and
multi-family residential projects throughout the greater Phoenix market.
TDM differentiates itself from competitors by providing top quality
product offerings, delivery, and a longstanding reputation of
outstanding customer service. In addition, TDM’s Valley View Window and
Door segment provides fully-licensed installation services to provide a
turnkey service offering to its customers. The Company employs over 25
people, many with long tenure at TDM.
TDM joins the Homewood Holdings family of businesses as its fifth
overall investment and first business in the growing Phoenix market.
Homewood Holdings also owns LBM dealers and installation service
providers in Northern California and the Pacific Northwest, including
Homewood Building Supply in greater Sacramento, CA and Evergreen Lumber
and Eagle Creek Siding, both in greater Seattle, WA.
Homewood Holdings was formed in April 2016 by BIP and building industry
veteran, Jim Stockman, to build a best-in-class, regional pro dealer
organization in the Western U.S. The addition of TDM creates a pro
dealer distribution and installation platform with seven total locations
in California, Washington, and Arizona, more than 250 total employees,
and over $110 million in combined sales.
The transaction allowed Kelly Slade and Joel Lacy to bring on a
strategic partner to continue the Company’s success and growth in
Maricopa County and beyond. Kelly and Joel will remain as President and
Vice President of TDM post-Transaction and will both retain a financial
stake in the business.
Jim Stockman, Homewood Holdings CEO, said, “We are very excited to
welcome The Door Mill and Valley View Window and Door into the Homewood
family of businesses. Kelly and Joel have built TDM into a premier
provider of doors and windows in the Phoenix market, and we look forward
to continuing to work with them to continuously improve the business’
value proposition in serving Arizona homebuilders.”
Zach Coopersmith, Managing Partner of BIP, commented, “Phoenix is a
market we identified as attractive for a number of reasons, and we are
thrilled to partner with such a strong, successful, highly reputable
door and window dealer and installer in this market. It’s clear to us
why so many of their employees have worked for TDM for so long.”
Kelly Slade, TDM President commented, “We believe that Homewood and
Building Industry Partners can help us accelerate our growth and ability
to provide the best possible products and services to our customers.
Joel and I think this transaction provides great career opportunities
for TDM’s employees, while maintaining the culture that makes this place
so special.”
Homewood Holdings is actively seeking to partner with, and/or acquire,
independent pro dealer, component manufacturer and service provider
organizations throughout the Western portion of the United States.
Background of Building Industry Partners
Building Industry Partners (“BIP”) is the leading growth equity
investment firm focused on the U.S. middle-market building products
industry. Founded in 2008, BIP has offices in New York, Boston, and
Dallas and is managed by Matt Ogden, Zach Coopersmith, and John Hughes.
BIP invests its principals’ own capital, as well as that of a small
number of like-minded family office and individual limited partners,
including a number of leading active and retired building industry
executives. BIP maintains a large proprietary network of building
industry operators, thought leaders and service providers that support
its industry-focused proprietary opportunity sourcing, due diligence,
portfolio company management and value creation efforts.
BIP invests via an “Operator First” model, serving as an equity capital
partner to support proven building products industry leaders in building
niche-leading businesses. To this end, BIP provides equity capital to:
(1) owner-operators of niche-focused building products manufacturers,
distributors and specialty service companies seeking capital for growth,
liquidity and/or partial ownership transition and (2) proven building
industry operators and entrepreneurs seeking to build a business within
their niche of expertise, primarily via acquisition of a platform
company and execution of organic and/or “buy & build” growth strategies.
The Firm focuses primarily on majority or minority ownership investments
involving platform companies with $20 to $250 million in revenues
as well as smaller companies with unique growth opportunities or as part
of larger “buy & build” acquisition strategies.
BIP principals have co-founded and/or served as the equity capital
sponsor for a number of the building products industry’s leading
middle-market companies and operators, including:
-
U.S. LBM Holdings, now the 3rd largest LBM pro
dealer organization in the U.S., in partnership with L.T. Gibson,
BlackEagle Partners and team -
Kodiak Building Partners, in partnership with Paul Hylbert,
Steve Swinney and team -
Rugby Architectural Building Products, in partnership with
David Hughes, Drew Dickinson and team -
United Cabinet Holdings, in partnership with Butch Reimer and
team -
Homewood Holdings, in partnership with Jim Stockman, Scott
Blackburn, Keith Elledge, Ron McFarland, and team -
U.S. Fence Solutions Company, in partnership with Andrew Reed,
Steve Stanley, Jeff Cook, Jim Bockelmann, Scott Crabtree and team
BIP continues to seek opportunities to sponsor the building industry’s
greatest operating talents in realizing their entrepreneurial visions.
Contacts
John Hughes
[email protected]
212-203-6546
