DULUTH, Ga. — Specialty Building Products, LLC has announced that it has signed a definitive agreement with The Jordan Company, L.P. which will acquire a majority ownership position. SBP’s senior management team, including President and CEO Jeff McLendon, will maintain a significant equity stake in SBP and continue to lead the company through its next phase of growth, a press release states. Terms of the transaction were not disclosed.
Specialty Building Products’s operating brands are U.S. Lumber, Alexandria Moulding, Midwest Lumber, and Mid-State Lumber. Earlier this month, U.S. Lumber acquired Midwest Lumber.
“At the heart of our business is a commitment to delivering best-in-class specialty building products and service to our customers,” said Jeff McLendon, president and CEO of Specialty Building Products. “We have had a terrific partnership with MDP and are excited to have found an equally strong new partner in TJC, who is aligned with our vision and committed to helping us pursue our next chapter of customer-focused growth.”
Mike Denvir, Partner of TJC, added, “As it has become a national-scale distributor of building materials in North America, Specialty Building Products has become one of the most reliable and trusted names in the business. We have closely followed the company’s exciting expansion and we are pleased to partner with the SBP team to build on this strong momentum and pursue new opportunities for growth.”