Denver, Colorado -- Denver based Kodiak Building Partners announced today the acquisition of substantially all the assets of Gulf & Basco, Inc, a specialty distributor of building products based in Houston, Texas.
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’ve been a successful family business for 75 years, but see the need to grow beyond our current distribution footprint and are delighted to join forces with Kodiak to achieve that goal,” explained Stuart Feldman.
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-$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.
Terms of the transaction were not disclosed.
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About the firms: Gulf & Basco was founded in 1937 by the Feldman family as a distributor of plumbing products. Over the years, the business has grown and developed to its current state as a specialty distributor of windows, cabinets, tops and appliances to homebuilders, repair and remodeling contractors and commercial accounts in the greater Houston market. Operating from a 110,000 square foot facility, Gulf & Basco’s 80 people are engaged in design, fabrication, warehousing, delivery and installation of its products.
Kodiak Building Partners is a Denver based company founded in 2011. Its first purchase was Barton Supply, a Denver based fabricator and distributor of structural and reinforcing steel and related building products serving the Front Range from locations in Aurora, Fort Collins, and Colorado Springs.
Source: Kodiak Building Partners
July 12, 2012
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