Kodiak Acquires Forest Tek Lumber and Overseas Lumber Company
Company Press Release
The owners of Forest Tek/Overseas Lumber and Kodiak Building Partners announced the acquisition of substantially all the operating assets of Forest Tek/Overseas, as of July 2, 2018. Forest Tek/Overseas was founded in 1982 by Allen Wood and Bruce McClenithan of the Florida Keys. Allen and Bruce will continue to run Forest Tek/Overseas, as it joins the LBM Division at Kodiak Building Partners under the leadership of Mike and Pat Flood, co-presidents of the Building Materials Group.
Owner Allen Wood reflects on the process of selecting the right buyer partner and shared, “Kodiak Building Partners was our first choice. We appreciate their business model that allows us to continue running our businesses in an autonomous manner, while enjoying the synergies and benefits that a company of their breadth allows.”. Owner Bruce McClenithan expands by saying that, “Our longtime employees are an integral component of our success in the Florida Keys. Kodiak recognizes their value and our unique culture and empowers us to continue running our operations in the same style that has brought us this far.”
Steve Swinney, CEO of Kodiak stated, “During the process of learning more about Forest Tek/Overseas Lumber, we knew that they would nicely complement our existing LBM companies, as well as our recent Florida acquisition, American Builder Supply. The best discovery was learning that their team is the epitome of the culture that we cultivate at Kodiak. Their employees are their family, and that was most evident as they recovered from Hurricane Irma. Not only is their family excited about joining ours, we look forward to supporting them, their continued hurricane recovery, and their future successes.”
The Jian Group was the exclusive advisor to the sellers.
About Forest Tek Lumber/Overseas Lumber
Forest Tek Lumber and Overseas Lumber comprise a company with two retail locations in the Florida Keys, selling hardware and lumber and building materials to the high-end custom home builder and walk-in customer, alike. They deliver product along the 100-mile chain of islands, from Key Largo to Key West, and handle a substantial market share. They are a Circle of Excellence Andersen Window Dealer.
About Kodiak Building Partners
Kodiak Building Partners serves general contractors, homebuilders, sub-contractors, remodelers, and consumers through its 67 facilities in Texas, Colorado, Arizona, Delaware, Massachusetts, Michigan, Wisconsin, Minnesota, and Maryland with a diverse array of products from four distinct segments; Interiors (Specialty, AWS and FBS), Construction Supplies (Barton, Barnsco TX, Barnsco MI, Erect A Line), Lumber and Building Materials (Zarsky Lumber, New England Building Supply, Gulf & Basco, American Building Supply, Builders Millwork) and Commercial Drywall and Doors (Jones Heartz, DMS, AO, and Freedom Materials).
Cally Fromme – Vice President of Communications & Culture – email@example.com
Source: Kodiak Building Partners, LLC