Monomoy Capital Partners, a private equity firm focused on deep value investing and operational improvement in the lower middle market, has acquired Construction Resources, and Builder Specialties. Terms of the transaction have not been disclosed.
The combination of the two businesses under the Construction Resources name creates a new specialty building products distributor for home builders in the Southeast. The company fabricates, distributes and installs countertops, appliances, hearth products, garage doors, glass and mirror products, flooring products, lighting products and cabinets. Construction Resources is now positioned as the largest ‘one-stop shop’ for specialty building products in the Southeastern US. The Company employs over 700 associates in 30 distribution centres, design centres and showrooms located throughout the Southeast.
Mitch Hires and David Haun, the owner-operators of the two underlying businesses, are investing in the combined company and will serve as the Chief Executive Officer and President of Construction Resources going forward.
“We are excited to welcome Construction Resources to the Monomoy portfolio,” says Justin Hillenbrand, a partner and Co-Executive Officer at Monomoy. “Under the leadership of Mitch Hires and David Haun, the companies we acquired today are leading specialty suppliers to home builders with an impressive customer list and an unmatched reputation for quality and service. We look forward to working with the Construction Resources management team to integrate the two businesses and to improve customer service, product quality and geographical reach.”
“We see a significant opportunity to expand and grow our business as the housing market continues to improve, particularly in greater Atlanta and surrounding regions,” says Mitch Hires, the Chief Executive Officer of the new Company. “Monomoy brings Construction Resources a unique combination of financial and operational capabilities, and we are convinced that the Monomoy team is the right partner to help take Construction Resources to the next level of excellence for our customers, suppliers and employees.”
