Kodiak Building Partners’ latest acquisition—its largest yet—will nearly double the company’s headcount.
Don and Ken Thiel of Carpenter Contractors of America, Inc. (CCA) and Kodiak have signed a definitive agreement under which Kodiak will acquire CCA, headquartered in Pompano Beach, Florida. The transaction is expected to close in October.
CCA provides fabricated lumber components and field installation services in the Midwest, Carolinas, and Florida. The company’s main operating locations are in Winter Haven, Forida, Belvidere, Illinois, and Fayetteville, North Carolina. In total the company employs almost 2,000 associates. As with most Kodiak acquisitions, CCA’s existing management team will continue to run the company and will be led by Ken Thiel, the current president and vice chairman.
Founded in 1955 by Don Thiel, with his brother Robert, Carpenter Contractors of America began modestly but evolved to become an industry leader. Don attributes CCA’s success to the ability to hire and retain the very best employees, Kodiak announced in a press release.
“Our focus on staying true to our family-business culture, even as we grew and evolved, was always key, and I am confident that Kodiak will not only respect our culture but also enhance it. It is important to me and my family that with Kodiak’s involvement, our company will continue to grow, improve, and thrive, while caring for our employees and valuing everything that they each bring to the table. I will be able to enjoy my upcoming retirement, knowing that CCA is in good hands,” Don Thiel said.
Ken Thiel echoed his father’s sentiment, commenting that “selling a market-leading 65-year-old family business was a difficult decision but made easier knowing that we would be partnering with a company like Kodiak who understands and respects our hard earned legacy. Our combined organizations will leverage the best of CCA’s manufacturing excellence and customer- centric operating philosophy with Kodiak’s scale and infrastructure.”
“While we recognize areas in which we can complement CCA, Kodiak is also looking forward to learning from them,” said Steve Swinney, Kodiak’s president & CEO. Swinney added that “sharing best practices among our companies only helps us achieve our goal of being better today than we were yesterday. CCA has a very innovative model of combining installation, manufacturing, and supply that sets them far apart from any competitor. The efficiencies that CCA has developed on job sites will be beneficial to our other operations across the country.”
When asked what the company’s plans are for further growth with this combination, Swinney said that the question isn’t ‘what are we going to do’, the question is ‘what aren’t we going to do?’
Paul Hylbert, Kodiak’s chairman, applauded the company that Don Thiel founded and recognizes that this acquisition, as the largest transaction in Kodiak’s nine year history, bolsters its significant position in Florida and grows its presence in attractive long term markets in the Carolinas and Mid-west.
“The considerable scope that CCA adds to the Kodiak family not only broadens our reach, but it assures the ongoing successes, expansions, and enhancements of an already admirable company,” Hylbert said.
Kodiak Building Partners has 83 locations, serves general contractors, homebuilders, sub-contractors, remodelers, and consumers in Arizona, California, Colorado, Delaware, Florida, Idaho, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Nebraska, North Carolina, Oregon, Texas, Washington, Wisconsin, and Wyoming.
Source: LBM Journal