Robert E. Mellor Joins Stock Building Supply Board of Directors
March 1, 2010
Mellor to help Stock with growth and acquisition opportunities
Stock Building Supply Holdings, LLC (“Stock”), a leading supplier of building materials to professional home builders and contractors in the United States that is jointly owned by The Gores Group and Wolseley PLC (NYSE:WOS), today announced that Robert E. Mellor has joined its board of directors. Mr. Mellor, who was formerly Chairman and Chief Executive Officer of Building Materials Holding Corporation, was brought into the company to provide expertise on expanding Stock’s business opportunities and to help position the company for anticipated future growth. “We are very excited about the potential to grow Stock and have been seeing a lot of growth and acquisition opportunities in the marketplace. Adding Rob Mellor to our Board of Directors will help us capitalize on some of those opportunities,” said Tim Meyer, Chairman of the Stock board of directors and a Managing Director of The Gores Group. “Stock has a clear set of strategic priorities, great employees and a terrific management team in place. The addition of Rob Mellor greatly enhances our prospects for future growth and expansion.”
Under Gores ownership, Stock has embarked upon an ambitious transformation program. After spending the 2nd half of 2009 focused on restructuring, removing over $200 million of cost, Stock has indentified 2010 as a year of aggressive expansion. “With our lean cost structure and liquidity position, we are well positioned to take advantage of acquisition opportunities and improving conditions in the housing market. Our focus this year is to strengthen and extend our market footprint,” said Joe Appelmann, Stock’s President and CEO. Mr. Appelmann added, “Rob Mellor brings extensive management experience and knowledge of the real estate, building supply and home building industries to the company. His addition will be beneficial in many ways, including helping to identify and better understand the needs of Stock’s current and future customers. We are very fortunate to have him as part of our team.” Mr. Mellor also serves on the board of directors of The Ryland Group, Inc., one of the nation's largest homebuilders. He is also on the board of directors and lead director of Coeur d'Alene Mines Corporation, a New York Stock Exchange Company with headquarters in Coeur d'Alene, Idaho. Mr. Mellor has also served as of counsel at Gibson, Dunn & Crutcher LLP in San Francisco. He received a B.A. in economics from Westminster College in Fulton, Missouri and a J.D. from Southern Methodist University.
About Stock Building Supply
Raleigh, NC-headquartered Stock Building Supply, a Gores Group portfolio company, is a leading supplier of building materials and solutions to service- minded professional home builders and contractors in the United States. Stock combines the most knowledgeable associates and efficient infrastructure to ensure it delivers the highest value possible to customers. Stock operates multiple convenient locations in 19 markets including Washington, DC; Raleigh-Durham, Charlotte and Winston-Salem/Greensboro, NC; Los Angeles, CA; Atlanta, GA; Paradise, PA; Richmond, VA; Greenville and Columbia, SC; Albuquerque, NM; Salt Lake City and Southern UT; Spokane/Northern Idaho; and Austin, Amarillo, Houston, Lubbock and San Antonio, TX. For more information visit: www.stockbuildingsupply.com.
About The Gores Group, LLC
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $1.7 billion. Headquartered in Los Angeles, California, The Gores Group, LLC maintains offices in Boulder, Colorado and London. For more information, please visit www.gores.com
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