Southeast Building Supply Interests (“SBSI”) Acquires Haywood Builders Supply (“Haywood”), Continuing Its Expansion With Its Second Acquisition of the Summer.

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Southeast Building Supply Interests (SBSI), a platform company of the building industry-focused private equity investment firm Building Industry Partners (BIP), has acquired Haywood Builders Supply (Haywood) in Waynesville, North Carolina.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, July 26, 2022
Information
Tags: 
Commercial Building & Real Estate, Construction & Property, Finance, Professional Services, Building Systems, Forest Products, Other Construction & Property, Natural Resources, Residential Building & Real Estate, Acquisition, Intrinsic and extrinsic properties, Heartland Industrial Partners, Holland & Knight, Employee stock purchase plan, Learning, LBM, Industry, Culture, Workforce, Ownership, Builder, Multimedia, BIP, Fifth Third Bank, Company, Builders FirstSource, SBSI, Wingate, Security (finance), Risk management
Geotags: 
NORTH CAROLINA, UNITED STATES, NORTH AMERICA, BOSTON, HAYWOOD, ASHEVILLE, TENNESSEE
Summary
Key Points: 
  • Southeast Building Supply Interests (SBSI), a platform company of the building industry-focused private equity investment firm Building Industry Partners (BIP), has acquired Haywood Builders Supply (Haywood) in Waynesville, North Carolina.
  • Haywood is SBSIs second location in the greater Asheville area along with Henson Building Supply in Black Mountain, North Carolina.
  • Danny Wingate, a long-time senior leader at Haywood, has been promoted to President of Haywood where he will continue to ensure customer and community focus.
  • As part of this commitment, all SBSI employees, including all Haywood employees, participate in SBSIs employee equity ownership program.


Southeast Building Supply Interests (“SBSI”), a platform company of the building industry-focused private equity investment firm Building Industry Partners (“BIP”), has acquired Haywood Builders Supply (“Haywood”) in Waynesville, North Carolina. Haywood is SBSI’s second location in the greater Asheville area along with Henson Building Supply in Black Mountain, North Carolina. In support of SBSI’s growing presence in the area, LBM industry veteran Robert Gordon has joined as Vice President and leader of the Asheville market. Robert was previously an accomplished general manager with Builders FirstSource and 84 Lumber. Danny Wingate, a long-time senior leader at Haywood, has been promoted to President of Haywood where he will continue to ensure customer and community focus.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220726005153/en/

SBSI is building a best-in-class regional pro-dealer organization that is committed to aligning interests with its workforce and being the employer-of-choice in its markets. As part of this commitment, all SBSI employees, including all Haywood employees, participate in SBSI’s employee equity ownership program.

SBSI is led by President Roger Farmer, who shared, “Our team is looking forward continuing Haywood’s decades long tradition of customer service and community involvement. This is a thriving region, and we are excited to expand our ability to serve the area’s builders.”

Mr. Wingate, who recently celebrated his 50th anniversary at Haywood, added, “SBSI’s commitment to our people and the community was the right fit for our team. We are excited to enter this next phase of growth.” Mr. Gordon added, “Haywood has a tremendous history in the Waynesville community, and I’m honored to work with Danny (Wingate) on this next phase. We’re committed to ensuring our customer service is top-notch and that Haywood is a wonderful place to come to work every day.”

Pat Mascia, Partner at BIP, commented, “Haywood is a natural fit for SBSI’s growth strategy, and we are grateful to the team for their trust in us and commitment to performance in this next phase. We strive to be the buyer of choice for companies like Haywood, and this acquisition is continued evidence of our progress towards this goal,” Matt Ogden, Managing Partner at BIP, added. “Given Haywood’s history as offering an Employee Stock Purchase Plan, this is an excellent opportunity to carry forward their existing culture of ownership by extending employee ownership into this next phase of the company’s history. We look forward to learning from their experiences as we advance our employee ownership approach to maximize impact for all shareholders and employees”

SBSI is actively seeking to invest in lumber and building materials companies in the Southeast and works tirelessly with management to elevate the employee value proposition at all companies in the SBSI family of businesses. Haywood represents SBSI’s second acquisition this year. In June, the company acquired Wallace Building Supply in Clarksville, Tennessee.

Partners involved in this opportunity were Holland & Knight LLP, Fifth Third Bank, Intrinsic LLC, CBIZ Insurance Services, and Siguler Guff & Company. LBM-Network’s Jim Enter served as the advisor to Haywood Builders Supply during this transaction.

About Building Industry Partners

Building Industry Partners (“BIP”) is the leading private equity investment firm focused on the U.S. building industry. Founded by Matt Ogden in 2008, BIP is headquartered in Boston, with operating partners and advisors across the U.S.

Over the past 14 years, BIP is proud to have co-founded or been first equity sponsor of a number of the fastest growing and most dynamic businesses in the U.S. building industry’s middle market, including U.S. LBM Holdings, Kodiak Building Partners, Homewood Holdings, and U.S. Fence Solutions/Binford Supply.

In 2020, BIP redefined its purpose: to build exceptional and enduring businesses, generate world class investment returns, and contribute to elevating the building industry and its workforce through people-focused investment & business principles. BIP continues to seek opportunities to sponsor the building industry’s greatest talent in building exceptional businesses, realizing their entrepreneurial visions, and increasing shared prosperity amongst shareholders, management, and the broader workforce.

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