Kodiak Building Partners, the diverse holding company, announced today it has signed an agreement to buy American Builders Supply (ABS), a fast-growing central Florida-based dealer serving production builders.
The transaction not only unites Kodiak, the 14th-biggest company on the ProSales 100, with the No. 40 firm. It also is notable in that former executives at ProBuild figured prominently on both sides of the deal. ABS has been led by Bill Myrick, ProBuild's former head, and after joining Kodiak it will be headed by Mark Garboski, currently ABS' chief operating officer and formerly a ProBuild VP. (Myrick and Garboski also were execs together at 84 Lumber.) At the same time, Kodiak CEO Steve Swinney was a vice president at ProBuild.
ABS specializes in providing production builders with truses, millwork, doors, lumber, and related products to production builders. The company posted sales totaling $131.5 million in 2016, up 36.3% from 2015. That's the second-fastest growth rate for any PS100 company that didn't swell through acquisitions. ABS is based in Sanford, Fla., and has facilities serving the Orlando, Tampa, Melbourne, Fort Myers, and Jacksonville markets.
“This transaction represents our entry into the Southeastern United States, a strong, long-term growth market for building products," Swinney said in a statement. "We are excited to partner with Mark and his extremely talented management team at ABS to continue to grow the company and our presence in Florida.”
Colorado-based Kodiak already has operations in Texas, Colorado, Michigan, Delaware, Maryland and Massachusetts. It is one of the most diverse companies on the ProSales 100, with businesses dealing in fabricated steel and accessories, gypsum, commercial doors, millwork, cabinets and appliances, and lumber and building materials.