Building Industries Partners LLC (BIP), the private growth equity firm that helped form US LBM, has formed Homewood Holdings LLC in partnership with industry veteran Jim Stockman. This recapitalizes California-based Homewood Building Supply to build a regional LBM dealer. The newly formed Homewood will actively seek partnerships and acquisitions throughout California and the Pacific Northwest.
"We are excited about the formation of our new LBM platform and its inaugural investment in Homewood Lumber," said Zach Coopersmith, managing partner of BIP. There is significant opportunity ahead for Homewood Lumber, its employees and its business partners, which will be fueled by organic and acquisition-related growth."
Jim Stockman has been named President and CEO of Homewood Holdings and has been working in the industry for 34 years. He most recently led Pacific Coast Building Products' LBM and wood products division in northern California and previously led Stock Building Supply's locations in southern California.
"The formation of Homewood Holdings gives me a great opportunity to be an owner and to have the freedom to establish and lead the strategic direction of a great organization," said Stockman.
BIP principals have co-founded or served as the equity capital sponsor for US LBM, Kodiak Building Partners, Rugby Architectural Building Products, United Cabinet Holdings, and Building Industry Advisors.