Stock Building Supply Purchases Assets of Total Building Services Group, LLC
Stock Building Supply (Stock), a portfolio company of The Gores Group, LLC, announced today that it acquired the assets of Total Building Services Group, LLC (TBSG), a leading supplier of structural components and architectural millwork in Atlanta, continuing Stock's strategy of strengthening and expanding capabilities.
Jeff Rea, President and CEO of Stock, noted: “Atlanta is an important market for our company and we are excited to welcome TBSG to the Stock family. Our Atlanta business is performing very well and this acquisition increases our capability to provide our customers value-added solutions and services.” Rea added, “We have immediately invested to increase capacity at TBSG to support the growth of our customers and are thrilled to welcome the TBSG associates to the Stock team.”
Bill Poston, former owner of TBSG and CEO of Traton Homes, will join TBSG's Board of Advisors. Poston stated, “Today is a positive and important milestone for the business. Stock has a strong financial position and promising future and will be a great new home for TBSG's customers and employees.
Terms of the sale were not disclosed.
About Stock Building Supply
Raleigh, NC-based Stock Building Supply is a leading supplier of building materials to professional home builders and contractors in the United States. Stock operates out of 19 markets including Washington, DC, Paradise, PA, Richmond, VA, Raleigh-Durham, NC, Charlotte, NC, Winston-Salem/Greensboro, NC, Greenville, SC, Columbia, SC, Atlanta, GA, Austin, TX, Amarillo, TX, Houston, TX, Lubbock, TX, San Antonio, TX, Albuquerque, NM, Salt Lake City, UT, Southern Utah, Spokane, WA, Northeast Idaho, and Los Angeles, CA. For more information, visit www.stockbuildingsupply.com.
About The Gores Group, LLC
The Gores Group, LLC is an investment firm focused on acquiring controlling interests in mature and growing business 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. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com
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