Jan 2 2013
Stock Building Supply (Stock), a portfolio company of The Gores Group, LLC, announced today that it acquired the assets of Total Building Services Group, LLC (TBSG), a leading supplier of structural components and architectural millwork in Atlanta, continuing Stock’s strategy of strengthening and expanding capabilities.
Jeff Rea, President and CEO of Stock, noted: “Atlanta is an important market for our company and we are excited to welcome TBSG to the Stock family. Our Atlanta business is performing very well and this acquisition increases our capability to provide our customers value-added solutions and services.” Rea added, “We have immediately invested to increase capacity at TBSG to support the growth of our customers and are thrilled to welcome the TBSG associates to the Stock team.”
Bill Poston, former owner of TBSG and CEO of Traton Homes, will join TBSG’s Board of Advisors. Poston stated, “Today is a positive and important milestone for the business. Stock has a strong financial position and promising future and will be a great new home for TBSG’s customers and employees.
Terms of the sale were not disclosed.
Source: http://www.gores.com/