An investment group led by former ProBuild president Paul Hylbert and Boreas Advisors LLC announced today it had acquired and injected new capital into Barton Supply, a fabricator and distributor of structural and reinforcing steel products serving Colorado's Front Range.
Founded in 1963, Barton has locations in Colorado Springs and Fort Collins, Colo., as well as the Denver suburb of Aurora. It serves general contractors, foundation and framing subconstractors, and homebuilders, according to a statement from Boreas.
"We are pleased to be partnering with Barton Supply as a committed, long-term investor and, particularly, that both Don and Scott Barton will be a part of the key management team as well as fellow investors," Hylbert said in the statement. "Scott will continue to head our sales and marketing efforts as the vice president of sales and Don will lead manufacturing and distribution as the vice president of operations."
Hylbert ran ProBuild for three and a half years before stepping down in August 2010. He now becomes chairman of Barton Supply.
Boreas Advisors partners Steve Swinney and Brian Cleveringa will become chief executive officer and chief financial officer, respectively, at Barton Supply. Swinney is a former vice president of financial planning and analysis at ProBuild Holdings. Cleveringa formerly was ProBuild's corporate finance manager. Boreas' two other principals, Eric Miller and Kyle Barker, also held senior positions at ProBuild.
Boreas is an investment group and financial advisory firm based in Denver that focuses on small to mid-sized companies. It teamed up with Hylbert earlier this year "to invest in housing and building products related companies with a long-term, build-and-grow strategy," the company said.