Kodiak Building Partners and New England Building Supply Join ForcesJune 12th, 2013 | Category: Industry News
Colorado-based Kodiak Building Partners announced today the combination of Kodiak and New England Building Supply to expand their merged business in the Eastern U.S. market.
“We are very excited about having New England Building Supply join our team,” says Kodiak Chairman, Paul Hylbert. “Tony Ciampaglio and Russ Smith have built a fine organization in Boston and developed a terrific business. In addition to giving us a strong presence in greater Boston, the company and capable people offer us a platform on which to grow throughout the Eastern Seaboard marketplace.”
New England Building Supply’s team of 61 people will remain in place, with Smith and Ciampaglio retaining leadership roles in the company and for the growth of this platform throughout the region.
“We see this as an opportunity for growth,” says Smith. “In addition to expanding our business in greater Boston, we’re excited about growth well beyond our existing service area.”
“Kodiak brings expansion capital to grow our business, and both Russ and I will be significant investors in Kodiak going forward as part of this transaction,” adds Ciampaglio. “We’ve known and worked with Hylbert and Steve Swinney, Kodiak’s president and chief operating officer, for many years and are excited to be joining forces to participate in the housing recovery together.”
Swinney says this is only the beginning of its expansion. “We expect this to be the first of many acquisitions to take place under the New England Building Supply leadership team,” he said.
Terms of the agreement were not disclosed.