Kodiak Building Partners to acquire Texas dealer
Denver-based Kodiak Building Partners has acquired the assets of Gulf & Basco, a specialty dealer of building products based in Houston. Terms of the transaction were not disclosed.
The one-unit pro dealer sells windows, kitchen cabinets, appliances, countertops and doors. A family-owned operation, Gulf & Basco has been in business for 75 years.
Commenting on the acquisition, Kodiak chairman and CEO Paul Hylbert said: “We are very excited about having Gulf and Basco join our Kodiak team. CEO Stuart Feldman and his colleagues have developed a very effective distribution business serving the greater Houston market, and we envision growing the business in Texas on the base his group has established.”
Gulf & Basco’s team of 80 people will remain, with Feldman continuing as the CEO and the management team remaining in place. “We see the need to grow beyond our current distribution footprint and are delighted to join forces with Kodiak to achieve that goal,” explained Feldman.
Eric Miller, a Kodiak spokesman, told Home Channel News: “We will be looking to expand their footprint throughout the major markets in Texas.”
Recognizing that the building industry is very local in nature, Kodiak and its investor partners work with and support management in helping grow businesses in the $10 million to $200 million sales range. The company provides capital and strategic support to allow its operating partners to make decisions that reflect conditions in their individual markets.