Kodiak Building Partners to Acquire Barnsco Inc.
By Intrado Global Newswire
DENVER, Aug. 13, 2014 (GLOBE NEWSWIRE) -- Denver based Kodiak Building Partners announced today an agreement in principal for the purchase of Barnsco Inc., a Dallas based fabricator and distributor of rebar and concrete accessories serving commercial construction and road building markets in North Central Texas and Southeastern Michigan.
Kodiak President and COO, Steve Swinney, said, "We are very excited about joining forces with the Barnsco team. Combined with Barton Supply, Kodiak's first acquisition over three years ago, we now boast a diverse footprint for steel fabrication and distribution in Texas, Colorado and Michigan and expect to continue expansion in the steel platform in the months and years to come."
Jeff and Gary Barnes, Co-owners of Barnsco added, "We are equally excited to combine forces with the Kodiak family and be part of the steel platform into the future."
Kodiak Chairman and CEO, Paul Hylbert, said, "This acquisition marks another step in the growth of Kodiak and our growth in the Texas market. With Gulf & Basco, Factory Builder Stores, AO Door and now Barnsco serving all the major markets, we're continuing to invest in one of the fastest growing states in the country."
The acquisition is subject to various standard closing conditions and is expected to close early during the third quarter of 2014. Terms of the transaction were not disclosed.
About the firms:
Barnsco, Inc. provides concrete supplies, accessories, and tools as well as design estimation and fabrication of REBAR, forming and tilt-wall to concrete contractors and concrete product manufacturers in the North Texas and Michigan markets. In addition, Barnsco provides sales, service, and rental of concrete related tools and compacting equipment.
Additionally, Barnsco manufactures a variety of fabricated products used in the concrete industry and also provides fleet maintenance to various customers in the DFW Market.
Kodiak Building Partners, founded in 2011, is a fabricator and distributor of building products with four locations in Colorado, 14 locations in Texas, and one location in Boston serving commercial and residential contractors, builders and sub-contractors with a wide variety of products including steel, gypsum, lumber, doors and millwork, windows, cabinets and appliances.