Ricci Supply Co, Inc. (“Ricci”) announced that it has been acquired by Kodiak Building Partners (“Kodiak”). This transaction is the successful culmination of an initiative led by Peloton Advisory LLC to identify an owner/partner that would be the best steward of the 60+ year old, third generation family business and support Ricci’s strategic growth initiatives, employees, vendors and customers.
Founded in 1957, Ricci (www.riccilumber.com), is a leading provider of lumber and hardware needs of local builders and seacoast institutions in New Hampshire, Maine and Massachusetts. The Company will continue to be led by Eddie Hayes, its President and CEO, and its existing management team. Since the age of 13, Eddie spent summers working in the lumberyard that his grandparents founded. After law school and his service in the United States Army, Eddie and his wife Jeanne joined Ricci full time. Since becoming President in 1999, Ricci has quadrupled its sales volume and invested in expanding its operation with a state-of-the-art design center to offer a broad line of kitchen, flooring and millwork options for its contractor and home-owner clients.
To take Ricci Lumber to the next level, Eddie confidently chose Kodiak to honor his family’s legacy and provide further opportunities for his 45 employees. He shared that, “Kodiak’s family-like philosophy mirrors our own, and they became the obvious choice among several suitors.”
Steve Swinney, President and CEO of Kodiak, commented, “Eddie and his team will find that all of our companies share his perspective and align with that very culture. We work hard and have high standards for how we operate, but we also play hard and have a great time together as like-minded partners and as an extended family.”
Kodiak Building Partners (www.kodiakbp.com), through its 89 locations, serves general contractors, homebuilders, sub-contractors, remodelers, and consumers with its operations in Arizona, California, Colorado, Delaware, Florida, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nebraska, New Hampshire, North Carolina, Oregon, Texas, Washington, Wisconsin, and Wyoming. Kodiak is a portfolio company of Court Square Capital Partners.
Peloton Advisory LLC (www.pelotonadvisory.com) provides M&A and business advisory services to highly successful, privately owned entrepreneurial companies and their owners.