US LBM Holdings, a building products platform of BlackEagle Partners formed in 2009, has acquired Standard Companies from the Rottschafer family, the third generation of the company’s original founding family.
Standard is a building material distributor in Western Michigan, providing cabinetry, windows, doors, trusses, components, roofing, siding, and framing materials for the professional builder. The company has 8 cabinetry showrooms, 6 building material distribution centers, and a component manufacturing facility. Standard was founded in 1904 by Omge and Kenelska Rottschafer, who emigrated from the Netherlands to Holland, Michigan, at the turn of the century. The year 2014 marked the 110th anniversary of the company. Standard is based in Grand Rapids, MI (www.standardcompanies.com).
US LBM currently consists of 14 building material distributors serving the Midwest, Northeast, Southeast, Mid-Atlantic, and Western US in 12 states with more than 80 locations. The company is headquartered in Green Bay, WI (www.uslbm.com).
“Standard is a great addition to the US LBM team, expanding our presence and capabilities in the Western Michigan market,” said L.T. Gibson, President & CEO of US LBM. “Standard’s dedicated and knowledgeable team of associates has succeeded by providing a local feel and focus to their customer needs, which aligns perfectly with the goals of US LBM. We look forward to continuing and expanding upon their success.”
BlueWater Partners, an investment bank based in Grand Rapids, MI, served as the exclusive financial advisor to Standard (www.bluewaterpartners.com).
“We are excited and proud to join the US LBM team and the opportunity it brings to provide our customers with continued enhancements to our product and service offering,” said Tim Rottschafer, the President of Standard. “This partnership with US LBM provides a platform for growth to our associates and partners for the future.”
BlackEagle Partners is a middle market private equity firm that seeks to acquire underperforming and distressed businesses, non-core subsidiaries, and companies in out-of-favor industries. The firm invests between $5 million and $25 million in businesses in a variety of industries and in situations ranging from companies with current operational losses, in or near bankruptcy, to profitable situations where a change in ownership can revitalize the outlook. The firm has offices in Bloomfield Hills, MI and New York, NY (www.blackeaglepartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-13-14