Homewood Holdings LLC, which is backed by Building Industry Partners, has acquired the assets of The Door Mill, an Arizona-based distributor of residential interior and exterior doors, molding, trim, hardware and windows. No financial terms were disclosed.
CHANDLER, Ariz.–(BUSINESS WIRE)–Homewood Holdings LLC (“Homewood”), a portfolio company of the investment firm Building Industry Partners LLC (“BIP”), has acquired the assets of The Door Mill Inc. and Valley View Window and Door LLC (collectively “TDM” or “the Company”) from their owners, Kelly Slade and Joel Lacy. Kelly and Joel have been with TDM for 35 years and 25 years, respectively, and have owned the Company since 2003.
Founded in 1984, TDM is one of greater Phoenix’s largest distributors of residential interior and exterior doors, molding, trim, hardware, and windows, serving local and regional builders of single-family and multi-family residential projects throughout the greater Phoenix market. TDM differentiates itself from competitors by providing top quality product offerings, delivery, and a longstanding reputation of outstanding customer service. In addition, TDM’s Valley View Window and Door segment provides fully-licensed installation services to provide a turnkey service offering to its customers. The Company employs over 25 people, many with long tenure at TDM.
TDM joins the Homewood Holdings family of businesses as its fifth overall investment and first business in the growing Phoenix market. Homewood Holdings also owns LBM dealers and installation service providers in Northern California and the Pacific Northwest, including Homewood Building Supply in greater Sacramento, CA and Evergreen Lumber and Eagle Creek Siding, both in greater Seattle, WA.
Homewood Holdings was formed in April 2016 by BIP and building industry veteran, Jim Stockman, to build a best-in-class, regional pro dealer organization in the Western U.S. The addition of TDM creates a pro dealer distribution and installation platform with seven total locations in California, Washington, and Arizona, more than 250 total employees, and over $110 million in combined sales.
The transaction allowed Kelly Slade and Joel Lacy to bring on a strategic partner to continue the Company’s success and growth in Maricopa County and beyond. Kelly and Joel will remain as President and Vice President of TDM post-Transaction and will both retain a financial stake in the business.
Jim Stockman, Homewood Holdings CEO, said, “We are very excited to welcome The Door Mill and Valley View Window and Door into the Homewood family of businesses. Kelly and Joel have built TDM into a premier provider of doors and windows in the Phoenix market, and we look forward to continuing to work with them to continuously improve the business’ value proposition in serving Arizona homebuilders.”
Zach Coopersmith, Managing Partner of BIP, commented, “Phoenix is a market we identified as attractive for a number of reasons, and we are thrilled to partner with such a strong, successful, highly reputable door and window dealer and installer in this market. It’s clear to us why so many of their employees have worked for TDM for so long.”
Kelly Slade, TDM President commented, “We believe that Homewood and Building Industry Partners can help us accelerate our growth and ability to provide the best possible products and services to our customers. Joel and I think this transaction provides great career opportunities for TDM’s employees, while maintaining the culture that makes this place so special.”
Homewood Holdings is actively seeking to partner with, and/or acquire, independent pro dealer, component manufacturer and service provider organizations throughout the Western portion of the United States.
Background of Building Industry Partners
Building Industry Partners (“BIP”) is the leading growth equity investment firm focused on the U.S. middle-market building products industry. Founded in 2008, BIP has offices in New York, Boston, and Dallas and is managed by Matt Ogden, Zach Coopersmith, and John Hughes. BIP invests its principals’ own capital, as well as that of a small number of like-minded family office and individual limited partners, including a number of leading active and retired building industry executives. BIP maintains a large proprietary network of building industry operators, thought leaders and service providers that support its industry-focused proprietary opportunity sourcing, due diligence, portfolio company management and value creation efforts.
BIP invests via an “Operator First” model, serving as an equity capital partner to support proven building products industry leaders in building niche-leading businesses. To this end, BIP provides equity capital to: (1) owner-operators of niche-focused building products manufacturers, distributors and specialty service companies seeking capital for growth, liquidity and/or partial ownership transition and (2) proven building industry operators and entrepreneurs seeking to build a business within their niche of expertise, primarily via acquisition of a platform company and execution of organic and/or “buy & build” growth strategies. The Firm focuses primarily on majority or minority ownership investments involving platform companies with $20 to $250 million in revenues as well as smaller companies with unique growth opportunities or as part of larger “buy & build” acquisition strategies.