BIP's Homewood Holdings Expands to AZ, Buys 2 Millwork Firms
Homewood's parent, the investment firm Building Industry Partners (BIP), described the operations in a press release as "one of greater Phoenix's largest distributors of residential and interior exterior doors, molding, trim, hardware, and windows." Valley View also provides installation services.
Kelly Slade and Joel Lacy, who have owned the companies since 2003, will remain as president and vice president, respectively, and will retain a financial stake. In addition, The Door Mill and Valley View will continue to operate under those names.
This is the fifth investment by Loomis, CA-based Homewood, which was formed in April 2016. The company's Homewood Building Supply serves the Sacramento, Calif., market while its Evergreen Lumber and Eagle Creek Siding units operate in the Seattle area. With the acquisitions, Homewood Holdings now has seven locations in three states with more than $110 million in combined sales.
"Phoenix is a market we identified as attractive for a number of reasons," said Zach Coopersmith, managing partner of BIP, "and we are thrilled to partner with such a strong, successful, highly reputable door and window dealer and installer in this market."
The news release quoted Slade as saying Homewood Holdings and BIP "can help us accelerate our growth and ability to provide the best possible products and services to our customers."