DENVER--(BUSINESS WIRE)--Building Industry Partners, the leading building products industry-focused investment firm, has formed U.S. Fence Solutions Company in partnership with BIP Operating Partner and building industry veteran, Allan Breidenbach. BIP and Mr. Breidenbach formed U.S. Fence Solutions to invest in Split Rail Fence & Supply Co. (“Split Rail”) and build a best-in-class fencing and installation business.
U.S. Fence Solutions completed its inaugural investment, investing in Split Rail in partnership with its founder, Tom Barenberg. Split Rail was founded in 1974 and today is the leading fencing supply and installation business in the Front Range of Colorado. Split Rail has over 120 employees, with locations in Littleton and Dacono, and serves the markets’ local, regional and national homebuilders, homeowner associations, multi-family and commercial builders and developers, municipalities, fencing and remodeling contractors, and homeowners. Split Rail has a legacy of more than 40 years in the Colorado community and building industry, with an estimated 100,000+ Split Rail banners displayed on fences throughout the Front Range of Colorado.
Allan Breidenbach becomes President of Split-Rail and CEO of parent company, U.S. Fence Solutions. Mr. Barenberg will continue in Split Rail management alongside Mr. Breidenbach and as a significant shareholder.
Matt Ogden, Founder & Managing Partner of BIP, said, “We feel extremely fortunate to become associated with Split Rail, a fixture in the Denver building community since the 1970’s. We’re partnering with one of the fencing industry’s leading entrepreneurs in Tom, and we’re bringing in a visionary and proven leader in Allan to lead Split Rail to its next level of success. Tom and his associates have built one of the finest integrated distribution and installation businesses we’ve encountered. Foremost, our mission will be to preserve Split Rail’s longstanding formula for success. I know Allan, Tom, and the team are also excited to collaborate in finding ways to make Split Rail an even better supplier, customer, and employer in the Front Range community.”
BIP’s team has had longstanding familiarity with Split Rail’s brand and reputation. Alex Hodgkin, BIP Partner, said, “As a Littleton native, I’ve watched Split Rail Fence develop over the last few decades into the household brand for fencing solutions. Our team at BIP looks forward to contributing our relationships in the greater Denver business community as we expand and enhance the tremendous legacy this business has established in the marketplace."
Zach Coopersmith, Managing Partner of BIP, commented, “Our transaction addressed Tom’s succession planning needs, enabling him to take some chips off the table after 40 years and to bring in a partner to help lay the path for Split Rail’s continued stability, improvement, and growth. The transaction also enables Tom to focus his go-forward involvement in the business on the highest-impact areas.”
Tom Barenberg, founder of Split Rail, commented, “I had a lot of choices of who to partner with. Allan and the entire BIP team bring the right experience, knowledge and values that will help Split Rail grow and thrive. I am excited to remain part of the team and a significant investor in the business going forward.”
Mr. Breidenbach, the incoming CEO of U.S. Fence Solutions and President of Split Rail, has a 20+ year tenure in leading building products distribution, installation and retail operations, as well as years of experience as an award-winning homebuilder. Prior to joining BIP as an Operating Partner, Mr. Breidenbach served as Vice President of Wisconsin Building Supply (“WBS”), an 11-location operating subsidiary of U.S. LBM Holdings. Under his leadership, WBS grew sales 150% in four years, became one of US LBM’s best performing operating companies and was named 2015 U.S. LBM OpCo of the Year. Mr. Ogden, commented, “Allan is a visionary, collaborative, and results-driven leader with the highest level of integrity. We couldn’t be more excited to bring Allan’s capabilities to bear with Tom and Split Rail’s talented employees.”
Mr. Breidenbach commented, “I am very excited and pleased to be joining the Split Rail team. Tom has built a quality organization over the last 40 years that is a market leader in a wonderful market. Tom and I have many of the same values and goals of providing world class customer service, opportunities for employees and suppliers, as well as desire to preserve and grow the business for the years ahead.”
Mr. Breidenbach also added, “As people continue to embrace outdoor living, improved privacy and reduced home maintenance costs, Split Rail’s ability to combine excellent products with in-house labor is a winner. Tom and his team have developed an excellent culture that we will build our future upon.”
U.S. Fence Solutions will actively seek to partner with, and/or acquire, strong independent fencing distribution and installation businesses in additional U.S. markets.
Background of Building Industry Partners
Building Industry Partners is the leading private growth equity investment firm focused in the U.S. middle-market building products industry. Founded by Matt Ogden in 2008, BIP has offices in Dallas, New York and Chicago and is managed by its Managing Partners, Matt Ogden and Zach Coopersmith, and Partners Alex Hodgkin, Allan Breidenbach and Michael Arnaud. BIP invests its principals’ own capital, as well as that of a small number of like-minded family office and individual limited partners, including accomplished active and retired building industry entrepreneurs. Through its Advisory Circle, BIP maintains the financial sponsor industry’s leading proprietary network of active and retired building products industry operators, thought leaders and service providers that support the Firm’s industry-focused proprietary opportunity sourcing, due diligence and portfolio company management and value-add efforts.
BIP invests via an “Operator First” model, serving as an equity capital partner to support proven building products industry leaders in building niche-leading businesses. To this end, BIP provides equity capital to: (1) proven owner-operators of niche-focused building products manufacturers, distributors and specialty service companies seeking capital for growth, liquidity and/or partial ownership transition and (2) proven building industry operators and entrepreneurs seeking to build a business within their niche of expertise, primarily via acquisition of a platform company and execution of organic and/or “buy & build” growth strategies. The Firm focuses primarily on majority or minority ownership investments involving platform companies with $20 to $250 million in revenues as well as smaller companies with unique growth opportunities or as part of larger niche “buy & build” acquisition strategies.
BIP principals have co-founded and/or served as the equity capital sponsor for a number of the building products industry’s leading middle-market companies and operators:
- U.S. LBM Holdings, now the 3rd largest pro dealer organization in the U.S., in partnership with L.T. Gibson, BlackEagle Partners and team
- Kodiak Building Partners, in partnership with Paul Hylbert, Steve Swinney and team
- Rugby Architectural Building Products, in partnership with David Hughes, Drew Dickinson and team
- United Cabinet Holdings, in partnership with Warren Arthur, Butch Reimer, Michael Arnaud and team
- Building Industry Advisors, in partnership with Michael Collins and Walt Kurek
- Homewood Holdings, in partnership with Jim Stockman and team
- U.S. Fence Solutions Company, in partnership with Allan Breidenbach, Tom Barenberg and team
BIP continues to seek opportunities to sponsor the building products industry’s greatest operating talents in achieving their entrepreneurial visions.
