Former ProBuild Execs Form New CompanyNovember 14th, 2011 | Category: Industry News
Paul Hylbert, former chief executive officer of ProBuild, has formed Kodiak Building Partners, based in Denver, and says the company plans to invest in the building materials distribution industry.
“We believe the time is right to acquire assets in this space,” says Hylbert. “While construction activity in general remains very weak, we believe that this business will recover and are looking to partner with strong management teams to participate in the upturn.”
Joining Hylbert is Steve Swinney who will act as president and chief operating officer, as well as Kyle Barker, Brian Cleveringa and Eric Miller who will be managing directors. All of these individuals also worked previously at ProBuild as did Hylbert.
“As we did with our recapitalization of Barton Supply in July of this year, we want to build Kodiak by partnering with the right management teams, establishing the appropriate capital structure, and then supporting the growth of companies over the long term,” said Swinney.
Kodiak Building Partners was formed to invest in building products companies serving new residential, repair and remodeling, and commercial construction markets across the United States. “Recognizing that this industry is very local in nature, Kodiak and its investor partners will work with and support management on a market-by-market basis to build and grow businesses in the $10 million to $100 million sales range,” according to the company press release.