Guardian Building Products (GBP) has been acquired by Pacific Avenue Capital Partners, a Los Angeles area-based private investment firm Guardian confirmed to ProSales today.
"We are confident that Pacific Avenue will be partners with both our suppliers and our customers, which will allow us to continue our tradition of excellent service, deep industry expertise and building of strong relationships,” COO Jim Becker said in a statement.
Until recently, Pacific Avenue was known as Highland Avenue Capital Partners. GBP's statement said Pacific Avenue has "deep expertise in the building products sector and an emphasis on driving growth." Three of the six companies it currently owns are involved in logistics, but none specifically ship building products.
Greer, S.C.-based GBP was known for years primarily as a manufacturer, mainly of insulation, and it had a long history in distribution. In 2014, it sold its insulation manufacturing operation and recast itself as a building products distributor. It relocated distribution centers in Missouri, Tennessee, Kansas, and New Mexico and opened a facility in Maryland. In October 2016 it came it acquired Hawkeye Building Distributors. Its website now shows 32 distribution centers.
In November 2016, it was sold to Koch Industries.