Homewood Holdings, a portfolio company of investment firm Building Industry Partners (BIP), acquired the assets of The Door Mill and Valley View Window and Door (TDM) from their owners Kelly Slade and Joel Lacy, according to a news release.
Phoenix, Ariz.-based TDR, founded in 1984, distributes residential and exterior doors, molding, trim, hardware, and windows to local and regional buildings in the single-family and multifamily markets. TDM’s Valley View Window and Door segment provides installation services to provide turnkey service offerings to its customers.
“We are very excited to welcome The Door Mill and Valley View Window and Door into the Homewood family of businesses,” Homewood Holdings CEO Jim Stockman said in a public statement. “Kelly and Joel have built TDM into a premier provider of doors and windows in the Phoenix market, and we look forward to continuing to work with them to continuously improve the business’ value proposition in serving Arizona homebuilders.”
TDM joins the Homewood Holdings family of businesses as the fifth overall investment—the first in the Phoenix market. Homewood Holdings owns LBM dealers and installation service providers in northern California and the Pacific Northwest, including Homewood Building Supply in Sacramento, Calif., and Evergreen Lumber and Eagle Creek Siding in the greater Seattle area.
Homewood said the transaction allowed Slade and Lacy to bring on a strategic partner to continue TDM’s growth and success. Slade will remain as president of TDM and Lacy will remain as vice president after the closing of the deal and both will retain financial stakes in the business.
“Phoenix is a market we identified as attractive for a number of reasons, and we are thrilled to partner with such a strong, successful, highly reputable door and window dealer and installer in this market,” Zach Coopersmith, managing partner of BIP, said.
Homewood Holdings was formed in April 2016 by BIP to build a “best-in-class, regional pro dealer” in the Western U.S. The addition of TDM creates a dealer and installation platform with seven total locations in California, Washington, and Arizona, with over $110 million in combined sales. Parent company BIP helped create or fund ProSales 100 companies U.S. LBM and Kodiak Building Partners as well as Rugby Architectural Building Products, United Cabinet Holdings, Building Industry Advisors, and U.S. Fence Solutions.
