Professional Builders Supply (PBS), a fast-growing building materials distributor based in Morrisville, N.C., was acquired by the Capitol Broadcasting Company (CBC) today. The acquisition creates a new equity partnership between the PBS and CBC founders, in addition to two other executives. It also takes the highly respected PBS off investors’ and dealers’ lists of potential acquisitions.
CBC is a diversified communications company that operates several different radio/television stations. CBC Vice President James Goodmon Jr. said in a statement “This investment continues a tradition of diversification at CBC. Without question our roots are in broadcasting, but over the years we’ve expanded our portfolio with properties like the Durham Bulls, The American Tobacco Historic District and Rocky Mount Mills. PBS is a highly-successful, growing company with a great reputation for customer service and community involvement. That’s exactly the type of operation we want as part of CBC”
PBS CEO Van Isley echoed that sentiment, saying “We are extremely excited about partnering with the CBC team and the Goodmon family whom we have known and respected for many years.”
PBS, No. 26 on the 2017 ProSales 100, was founded in Raleigh, N.C. in 2003. It operates seven locations throughout the Carolinas and had $215.8 million in net sales last year. That’s up nearly 27% from the prior year.
