The Gores Group Acquires Remaining Interest in Stock Building Supply from Wolseley PLC
November 17, 2011
The Gores Group, a leading private equity firm, today announced that it has furthered its commitment to Stock Building Supply
Holdings, LLC (“Stock”) by acquiring Wolseley plc’s remaining minority interest in Stock. The Gores Group acquired a controlling interest in Stock, a leading supplier of building materials to professional home builders and contractors in the United States, on May 5, 2009. Terms of the transaction were not disclosed.
“We have high expectations for Stock, and this transaction solidifies our position in the company,” stated Ryan Wald, Managing Director of The Gores Group. “Stock is wellsituated to weather the downturn and is capable of rapid growth as the market recovers. This additional investment will allow us to participate fully in the growth of Stock and the recovery of the housing market.”
Jeff Rea, CEO of Stock, stated: “The Gores Group is an exceptional partner and has provided the support and leadership needed to re-position Stock in these turbulent times. This additional investment by Gores is a sign of confidence in our associates and our strategy, and we look forward to working collaboratively with The Gores Group in the future. We appreciate our 27-year association with Wolseley plc and look forward to accelerating our company’s growth and performance with The Gores Group.”
About The Gores Group, LLC
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, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com
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 its customers. Stock operates multiple convenient locations in numerous US 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; Central and Northwest Arkansas and Austin, Amarillo, Houston, Lubbock and San Antonio, TX. For more information visit: www.stockbuildingsupply.com.
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