Building Industry Partners Completes Sale of Homewood Holdings to American Construction SourceFebruary 27th, 2020 by Editor
Officials for Building Industry Partners LLC (BIP), a private equity investment firm for the middle-market building products industry in the U.S., announced the sale of its LBM dealer platform company, Homewood Holdings, to American Construction Source (ACS). Financial terms of the transaction are undisclosed.
ACS is a national building materials distribution platform backed by private equity firms Angeles Equity Partners LLC and Clearlake Capital Group L.P. (together with its affiliates “Clearlake”).
Homewood Holdings consists of five operating companies with eight total facilities in California, Washington, and Arizona.
“BIP has long focused on supporting the building industry’s most talented business leaders in becoming owner-operators and realizing their entrepreneurial visions,” said Matt Ogden, BIP founder and managing partner. “We knew Jim for over a decade before we partnered at Homewood, so it’s particularly rewarding for BIP to realize this success together in Jim’s entrepreneurial debut.”
Jim Stockman, CEO of Homewood Holdings, weighed in on the transaction.
“We’re very proud of the business we’ve built at Homewood and the seven acquisitions we’ve brought into the Homewood family since 2016,” Stockman said. “I think we’ve realized our vision of building a pro dealer organization across multiple markets that cares deeply about serving its customers, while also being a place where employees love to work.”