Southeast Building Supply Interests Acquires Wallace Building Supply
Southeast Building Supply Interests, a platform company of Building Industry Partners, a major building industry-focused investment group, has acquired Wallace Building Supply.
SBSI, directed by industry veteran Roger Farmer, services local, regional, and national builders and contractors, as well as do-it-yourself customers, across nine Southeast cities.
Wallace is SBSI’s first Tennessee location.
SBSI is constructing a best-in-class regional pro-dealer organization dedicated to implementing cutting-edge human capital management processes.
Every SBSI employee, including all Wallace workers, participates in SBSI’s employee equity ownership program as part of this commitment.
SBSI President Roger Farmer stated, “It has been a privilege to get to know the Wallace family, and our team is honored to partner with them on this next phase of growth. Wallace Building Supply is a cornerstone of the community, and we plan to continue in that tradition in service of our customers.”
Ronnie Wallace will remain President of Wallace Building Supply under Farmer’s supervision. Mark Wallace has been elevated to Director of Sales, recognizing his customer service leadership.
“It was critical that we find a group that is committed to creating opportunities for our employees and for the community. Our family spent a lot of time getting to know the team at SBSI and BIP, and we are confident that they are the right partner for this next phase of growth. We look forward continuing to serve our customers and the community.” Ronnie added.
“We have an immense amount of respect for the Wallace family and the role that Wallace Building Supply has played in building the community. Ronnie, Randy, Kim, and Melanie can tell a story about the building of many of the homes in Clarksville, Stewart County, and beyond. We are humbled to be their partner of choice.”, Pat Mascia, Partner at BIP and SBSI board member, commented.
BIP Operating Partner and SBSI Board Member Nick Massengill, shared, “Tennessee is a business-friendly state that is poised for sustained growth, and we are excited to enter another market with a strong military presence. Clarksville and Stewart County are great places to build a home.”
SBSI is actively seeking to invest in lumber and building materials companies in the Southeast and will work tirelessly to elevate the employee value proposition at all companies that join the SBSI family of businesses.
Partners involved in this opportunity were Holland & Knight LLP, Fifth Third Bank, Intrinsic LLC, CBIZ Insurance Services, Inc., and Siguler Guff & Company. 1st West Mergers and Acquisitions advised the Seller.
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