Salt Creek Capital has acquired Sound Building Supply, a manufacturer and distributor of metal flashing, roofing, and other building products used in residential and commercial applications.
Sound Building Supply (SBS) sells its product to both wholesalers and specialty retail companies in the construction supplies industry throughout Washington, Oregon, and Alaska. SBS was founded in 1978 by Diane Wilkins and Steven Wisner and is headquartered near Seattle in Renton, WA (www.soundbuildingsupply.com).
With the transaction now closed, SBS has named Richard Thome as its new CEO. “I am thrilled to have partnered with Salt Creek Capital to complete this acquisition and am eager to join the SBS team. The founders of SBS built an exceptional business with a sterling reputation, and I am honored to have the opportunity to continue building upon this legacy.” Mr. Thome joined Salt Creek as an Executive Partner in May 2017. Prior to joining Salt Creek, he was COO of Lansinoh Laboratories, a publicly-traded baby products company. Earlier in his career he was SVP Operations for Prestige Brands during its growth from a $25 million revenue company to a $375 million revenue company before going public in 2005.
“We could not be prouder of the SBS team and all the hard work that enabled us to achieve what we have over the past 40 years,” said Ms. Wilkins and Mr. Wisner is a released statement. “We were pleased that Salt Creek brought in a high-quality, proven CEO to help transition the business. The firm provided a solution to our needs for liquidity and our desire to transition our leadership responsibilities so that we could retire. The company is poised to enter a new period of growth, and we are confident that Richard and Salt Creek are capable of achieving success with our employees, customers and vendors.”
“Sound Building Supply is a strong business serving a growing region of the country, and we are delighted to partner with Richard to take on new growth initiatives and support the business in reaching its full potential,” said Daniel Price, a Salt Creek Capital Vice President. “Diane Wilkins and Steve Wisner built an outstanding company and we sincerely appreciate their support in completing the transaction.”
Salt Creek invests in executive-led buyouts of companies with up to $100 million in revenue and EBITDA from $750,000 to $5 million. Sectors of interest are varied making the firm nearly industry agnostic but areas of specific interest include manufacturing, business and consumer services, distribution, and franchisors. The firm is based in Menlo Park (www.saltcreekcap.com).
© 2018 Private Equity Professional | March 9, 2018