Southeast Building Supply Interests (SBSI), a platform company of building industry-focused private equity investment firm Building Industry Partners (BIP), acquired Buettner Brothers Lumber Company in Cullman, Ala.
Buettner Brothers represents SBSI’s first location in Alabama and third acquisition of the summer. BIP founded SBSI in July 2021 with the acquisition of Warner Robins Building Supply, Henson Building Materials, and Mountain Building Supply. The dealer acquired Wallace Building Supply in Clarksville, Tenn., in June and Haywood Builders Supply in Waynesville, N.C. in July.
“I consider Alabama home, and I could not be more excited to acquire our first business in the state,” Roger Framer, president of SBSI, said in a news release. “Under John’s [McPhillips] and Jimmy’s [Barnes] leadership Buettner has been a pillar of the Cullman community, and we look forward to continuing in that tradition.”
SBSI said it is actively seeking to invest in LBM companies in the Southeast. The company also said it is committed “to establishing leading human capital management practices.” To that end, every SBSI employee, including Buettner employees, participate in SBSI’s employee equity ownership program.
“We are excited to be in Alabama, and we are excited to partner with Buettner employees on this next growth phase,” Nick Massengill, operating partner at BIP and SBSI director, said. “Our employee equity program is designed to reward the hard work that is required to grow a business. Our goal is to create shared prosperity with all of our employees.”
Over the past decade, BIP has been involved in the formation of several leading industry players, including US LBM, Kodiak Building Partners, Homewood Holdings, U.S. Fence Solutions/Binford Supply, United Cabinet Holdings, and Rugby Architectural Building Products. Additionally, BIP recently launched a new Endeavor Fire Protection business platform.
