SPEC Building Materials makes acquisition
SPEC Building Materials Corp., a distributor of residential roofing materials based in Kansas City, Mo., has agreed to acquire the assets of Knoxville, Tenn.-based Exterior Materials. No purchase price was disclosed.
Exterior Materials is a full-service, multi-discipline organization of building envelope professionals, manufacturer's representatives, and sales and distribution professionals who have been serving the commercial and industrial and architectural building markets since 1980. Exterior Materials provides a variety of services and training programs designed to assist industry professionals with assessment, specifications, application details and final inspection of each project. For many years Exterior Materials has sought environmentally sustainable solutions for the construction industry, including LEED compliant construction, garden and plaza construction and other roofing and waterproofing systems.
SPEC, a family owned and operated business, was founded in 1973 in Kansas City, Mo., by Mel Stevenson, current president and CEO. The company sells commercial and residential roofing supplies from 30 locations in 11 states: South Dakota, Nebraska, Kansas, Missouri, Arkansas, Oklahoma, Texas, Mississippi, Tennessee, Alabama and Florida.
Barry Satterfield, president and CEO of Exterior Materials, along with the professional sales and service staff, will remain with the company. The transaction is conditional upon the execution of a definitive agreement, completion of satisfactory due diligence, receipt of shareholder approval and other corporate approvals, regulatory approval and court approval, if necessary.