RALEIGH, N.C.--Stock Building Supply Holdings, LLC (“Stock”), a leading supplier of building materials to professional home builders and contractors in the United States that is jointly owned by The Gores Group and Wolseley plc, today announced the appointment of Jeffrey G. Rea as Chief Executive Officer.
Rea most recently served as President of Tyco Electronics Specialty Products Group, which was comprised of four separate global businesses. While serving in this role, Rea implemented double-digit organic growth strategies, led a significant increase in strategic investments and organization capability while delivering strong operational performance. Prior to joining Tyco Electronics, Rea was a senior executive at Johns Manville. During his tenure there he rose from the position of Vice President and General Manager of the Building Insulation Business to Senior Vice President of Johns Manville Building Products Group, which included the building insulation, performance materials and roofing systems businesses. Under Rea’s leadership, the businesses implemented new brand and channel strategies, made numerous strategic investments and delivered industry-leading earnings growth. Before joining Johns Manville, Rea served 15 years in various leadership roles at General Electric including 5 years on GE’s prestigious corporate audit staff.
“Jeff is an outstanding executive who brings to Stock a wide array of senior executive-level experience, a strong cross functional skill set, and exceptional leadership. We are confident he will be an excellent CEO,” stated Tim Meyer, Chairman of the Board of Stock and Managing Director for The Gores Group. “His work building Johns Manville Building Products Group combined with his other experience and abilities make him an ideal candidate to lead Stock to the next level. We expect great things from him and Stock in the near future.”
Rea stated, “I am honored to be joining Stock as its CEO. The Stock leadership team and The Gores Group have done a great job of stabilizing and turning around the company since it was acquired 18 months ago. I look forward to working with all the Stock employees to deliver exceptional customer support and service while helping the company reach its full potential.”
About Stock Building Supply
Stock Building Supply has been a leading building materials and solutions company in the United States since 1922. We specialize in meeting the needs of builders and contractors in residential and light commercial construction and the home repair and remodel market. Through its strategic vendor relationships, Stock supplies more than half of the materials used to construct a home. In addition to building materials and custom millwork, Stock offers professional installation for most every product we carry.
Headquartered in Raleigh, North Carolina, Stock operates coast-to-coast in 21 of the nation’s fastest-growing residential markets. Coleman Floor Company, Smoot Lumber Company, Bison Building Materials and National Lock Center are also part of the Stock family of businesses.
About The Gores Group, LLC
The Gores Group LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $2.9 billion. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London
SOURCE: Stock Building Supply
Rea most recently served as President of Tyco Electronics Specialty Products Group, which was comprised of four separate global businesses. While serving in this role, Rea implemented double-digit organic growth strategies, led a significant increase in strategic investments and organization capability while delivering strong operational performance. Prior to joining Tyco Electronics, Rea was a senior executive at Johns Manville. During his tenure there he rose from the position of Vice President and General Manager of the Building Insulation Business to Senior Vice President of Johns Manville Building Products Group, which included the building insulation, performance materials and roofing systems businesses. Under Rea’s leadership, the businesses implemented new brand and channel strategies, made numerous strategic investments and delivered industry-leading earnings growth. Before joining Johns Manville, Rea served 15 years in various leadership roles at General Electric including 5 years on GE’s prestigious corporate audit staff.
“Jeff is an outstanding executive who brings to Stock a wide array of senior executive-level experience, a strong cross functional skill set, and exceptional leadership. We are confident he will be an excellent CEO,” stated Tim Meyer, Chairman of the Board of Stock and Managing Director for The Gores Group. “His work building Johns Manville Building Products Group combined with his other experience and abilities make him an ideal candidate to lead Stock to the next level. We expect great things from him and Stock in the near future.”
Rea stated, “I am honored to be joining Stock as its CEO. The Stock leadership team and The Gores Group have done a great job of stabilizing and turning around the company since it was acquired 18 months ago. I look forward to working with all the Stock employees to deliver exceptional customer support and service while helping the company reach its full potential.”
About Stock Building Supply
Stock Building Supply has been a leading building materials and solutions company in the United States since 1922. We specialize in meeting the needs of builders and contractors in residential and light commercial construction and the home repair and remodel market. Through its strategic vendor relationships, Stock supplies more than half of the materials used to construct a home. In addition to building materials and custom millwork, Stock offers professional installation for most every product we carry.
Headquartered in Raleigh, North Carolina, Stock operates coast-to-coast in 21 of the nation’s fastest-growing residential markets. Coleman Floor Company, Smoot Lumber Company, Bison Building Materials and National Lock Center are also part of the Stock family of businesses.
About The Gores Group, LLC
The Gores Group LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $2.9 billion. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London
SOURCE: Stock Building Supply
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