posted on July 09, 2010 01:08
Stock Building Supply Holdings LLC has purchased the bankrupt Bison Building Holdings Inc. in Houston.
Raleigh, N.C.-based Stock Building Supply bought out the assets of Bison as part of its growth strategy to expand further in the residential construction market. Stock Building Supply operates in 20 residential markets, including San Antonio. The company has supplied materials for professional builders and contractors in the United States for more than 100 years.
Stock and Bison will combine their operations in Houston to create the largest building materials distributor in the Bayou City. The combined business will operate as Bison Building Materials, a Stock Building Supply Company. Bison filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in Houston last summer.
“We will continue exploring intelligent growth options both in our core markets and elsewhere if opportunities arise. This acquisition is an excellent strategic transaction for Stock and allows us to continue to transform our operating model to specifically focus on the residential construction market,” Stock CEO Joe Appelmann says. “The combination of Stock and Bison further strengthens our residential business in Texas. It also leverages each company’s strengths and will ultimately provide an enhanced experience for our customers.”
Stock Building Supply is owned by The Gores Group LLC, a private equity firm based in Los Angeles.
July 1st, 2010 | San Antonio Business Journal