The deal, announced today, supports the firm’s strategic growth plan, according to a company press release.
“We are excited going forward to have a company like Grey Mountain Partners as our new equity partner,” said Pete Schiller, the CEO of Hawaii’s largest building material company. “Grey Mountain is committed to assuring that Honsador and all of its present and future affiliates are the strongest in their respective markets and that we bring superior value and relevance to the customers we serve.”
Founded in downtown Honolulu in 1935 as Honolulu Sash and Door, the firm has become a staple in Hawaii. And Schiller hopes that doesn’t change.
“I want to make sure Honsador stays a Hawaiian company,” he told ProSales in a 2013 interview. “It's about maintaining the aloha spirit of how we conduct business. After all, Honsador was in business for 25 years before Hawaii became a state.”
Over the last 80 years, the firm has grown to employ a team of nearly 300. Now based in Kapolei, it operates 15 locations throughout the state, as well as a distribution center in Portland, Ore. Comprised of Honsador Lumber, Alpha Electrical Supply Company, Honolulu Wood Treating, HWT and Honsador Truss, the company recorded $139.7 million in total sales last year, 79 percent of which was in Pro Sales.
Boulder, Colo., Grey Mountain Partners focuses on partnering with management
teams to create value through operational improvements, as well as organic and
acquisition-based growth strategies.