Kodiak expands in N.C.
Kodiak Building Partners has acquired New River Building Supply & Lumber Company, which has served North Carolina since 1973. According to Colorado-based Kodiak, the acquisition aims to strengthen the company's presence in the developing Southeast market while preserving New River’s legacy in the region’s High Country, including Boone and Banner Elk.
With the deal, Kodiak Building Partners has 141 locations divided across 42 operating companies in 29 states.
Following the acquisition, Kodiak says New River Building Supply & Lumber Company will maintain its commitment to building strong customer relationships with backing from Kodiak’s resources, expertise and national network that will support strategic growth in the region.
“Kodiak and New River share a commitment to continuous improvement, striving each day to enhance our operations and strengthen support for our customers and communities. Our opportunities for growth with New River and in the Southeast are not done,” said Steve Swinney, CEO of Kodiak Building Partners.
Swinney adds a bit of inspirational, Belushian insight regarding the deal: “Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? This partnership is another step toward our goals—and fuels our commitment to be better tomorrow than we were today.”
“Partnering with Kodiak makes us a stronger company with access to a wide network of industry knowledge and additional resources to serve our customers and meet the growing demand for quality building materials in our communities,” said Perry Yates, president of New River Building Supply & Lumber Company. “This partnership will ensure our legacy in these North Carolina communities can continue for generations to come.”
In addition to a comprehensive selection of top-tier building materials, New River features a dedicated timber and log division, assisting customers in planning and constructing log homes.
BDO Capital Advisors, LLC acted as the financial advisor, and McGuire Wood & Bissette provided legal counsel for New River Building Supply throughout the transaction.
