The Gores Group Acquires Remaining Interest in Stock Building SupplyNovember 18th, 2011 | Category: Industry News
The Gores Group, a private equity firm, announced that it has furthered its commitment to Stock Building Supply Holdings LLC by acquiring Wolseley plc’s remaining minority interest in Stock. The Gores Group acquired a controlling interest in Stock, on May 5, 2009. Terms of the transaction were not disclosed.
“We have high expectations for Stock, and this transaction solidifies our position in the company,” said Ryan Wald, managing director of The Gores Group. “Stock is well-situated to weather the downturn and is capable of rapid growth as the market recovers. This additional investment will allow us to participate fully in the growth of Stock and the recovery of the housing market.”
“This additional investment by Gores is a sign of confidence in our associates and our strategy, and we look forward to working collaboratively with The Gores Group in the future,” added Jeff Rea, chief executive officer of Stock Building Supply.