Southeast Building Supply Interests (SBSI), the dealer platform established by LBM investment firm Building Industry Partners (BIP), acquired Wallace Building Supply. The acquisition marks SBSI’s first expansion into Tennessee. The financial terms of the acquisition were not disclosed.
“It has been a privilege to get to know the Wallace family, and our team is honored to partner with them on this next phase of growth,” Roger Farmer, president of SBSI, said in a news release. “Wallace Building Supply is a cornerstone of the community, and we plan to continue in that tradition in service of our customers.”
Ronnie Wallace will continue in his role as president of Wallace Building Supply. Mark Wallace has been promoted to the role of director of sales, according to SBSI.
“It was critical that we find a group that is committed to creating opportunities for our employees and for the community,” Ronnie Wallace said. “Our family spent a lot of time getting to know the team at SBSI and BIP, and we are confident that they are the right partner for this next phase of growth. We look forward to continuing to serve our customers and the community.”
Founded in 1978, Wallace Building Supply is a single-dealer unit based in Indian Mound, Tenn. The company’s facilities include 13 acres and 121,433 square feet of space.
“We have an immense amount of respect for the Wallace family and the role that Wallace Building Supply has played in building the community,” Pat Mascia, partner at BIP and an SBSI board member, said. “Ronnie, Randy, Kim, and Melanie can tell a story about the building of many of the homes in Clarksville, Stewart County, and beyond. We are humbled to be their partner of choice.”
SBSI said it is actively seeking to invest in lumber and building materials companies in the Southeast and will work tirelessly to elevate the employee value propositions for all companies it acquires, according to a news release.
Following the acquisition of Wallace Building Supply, SBSI operates nine LBM facilities in Georgia, North Carolina, South Carolina, and Tennessee.
BIP founded SBSI in July 2021 with the acquisition of Warner Robins Building Supply, Henson Building Materials, and Mountain Building Supply.
Over the past decade, BIP has been involved in the formation of several leading industry players, including US LBM, Kodiak Building Partners, Homewood Holdings, U.S. Fence Solutions/Binford Supply, United Cabinet Holdings, and Rugby Architectural Building Products.
