Construction Resources, Builder Specialties Announce Merger
ATLANTA—Construction Resources, Inc., and Builder Specialties, Inc., leading building supply companies based in Atlanta, today announced the two companies will merge. The merger is the result of a transaction with Monomoy Capital Partners II, L.P., which has finalized the purchase of both companies. The combined entity, now known as Construction Resources, will become the leading provider and installer of building products in the Southeast region.
“Construction Resources, Inc. and Builder Specialties, Inc. have a history of excellence in the building supply industry and long-standing customer relationships throughout the Southeast region,” said Mitch Hires, who served as CEO of Construction Resources, Inc. and will be CEO of the combined company. “Together, we will provide builders, designers, remodelers, general contractors, property managers, and retail consumers with a ‘one-stop shop’ for all major specialty building products, along with best in class installation and aftermarket services.”
The combined company will continue all current lines of business, offering customers an unmatched line of products and specialty expertise for 55 top brands across nine product categories. This includes appliances, countertops, garage doors, hearth products, tile and flooring, glass and mirror, lighting, cabinets, and specialties.
Together, Builder Specialties, Inc. and Construction Resources, Inc. will have a physical presence in four states with an enhanced ability to service the South and Mid-Atlantic region. The combined company will also leverage their expanded distribution network, and plans to integrate all nine product categories into their design centers. In total, the new company will operate from 27 locations, including design centers, showrooms, and distribution facilities.
“As the housing market continues to improve, particularly in greater-Atlanta and surrounding regions, we see a significant opportunity to expand and grow our business,” said David Haun, who will serve as President of Construction Resources. “By merging our complementary businesses, we can enhance the way we operate and serve our customers to a degree that is well beyond any other building products supplier in our market.”
Monomoy believes in the growth opportunities for Construction Resources. The firm brings additional management and operational expertise, and will be an important partner, providing access to capital to accelerate growth.
Owners from Construction Resources and Builder Specialties, Inc. will retain a stake in the business moving forward, including Sonny Hires who will serve as VP of Sales for the combined entity. Both businesses have strong management teams that will continue with the organization, and the new executive leadership team comprises key individuals who held senior roles at Construction Resources and Builder Specialties.
Source: PR Newswire