Kodiak Building Partners announced Thursday it will acquire the assets of Gulf & Basco, a specialty building products distributor based in Houston.
Led by former ProBuild CEO Paul Hylbert, the Denver-based investment group says it will take on Gulf & Basco’s 80-person roster, leaving its management team intact.
“We are very excited about having Gulf & Basco join our Kodiak team,” Hylbert said in a statement. “[They] have developed a very effective distribution business serving the greater Houston market, and we envision growing the business in Texas on the base [this] group has established.”
Kodiak, which targets mid-sized suppliers, launched in July 2011 with the acquisition of steel building products manufacturer Barton Supply in Denver. "We believe the time is right to acquire assets in this space," Hylbert toldProSales in November 2011. "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."
The terms of the deal were not disclosed.