U.S. Fence Solutions Co. (“U.S. Fence”), a portfolio company of private growth equity investment firm, Building Industry Partners (“BIP”), has invested in and recapitalized Dallas-based fencing distributor, Binford Supply LLC (“Binford”), in partnership with Binford’s President and owner, Steve Stanley. Binford was founded in 1950 and purchased in 2005 by Mr. Stanley. Binford is one of the largest residential & commercial fencing distributors in Texas and the U.S. Binford has over 100 employees across eight locations, primarily serving residential and commercial fencing contractors throughout TX and OK.
U.S. Fence Solutions Company was formed in May 2016 by BIP and building industry veteran, Allan Breidenbach, to build a best-in-class national fencing industry holding company. Binford represents U.S. Fence’s second acquisition and its addition creates a high-growth fencing segment platform with ten combined locations servicing TX, OK and CO and over $100 million in annual sales. Mr. Breidenbach serves as CEO of U.S. Fence. Mr. Stanley will continue as President of Binford and becomes a significant shareholder in U.S. Fence.
Matt Ogden, Founder & Managing Partner of BIP, commented, “I’ve known Steve since 2012 and watched his incredible growth and success over the years at Binford. We are excited to partner with Steve and bring Binford into the U.S. Fence family of businesses. Steve has done an amazing job since acquiring the business over a decade ago, in attracting, retaining and leading outstanding talent in the industry, servicing his longstanding customer relationships and achieving annual sales growth and profitability every year, even through the Great Recession and Houston’s energy market downturn.”
Allan Breidenbach, CEO of U.S. Fence, said, “Steve has proven himself time and again, with his ability to grow Binford organically and transform the businesses he’s acquired along the way. He brings the businesses associated with him to the next level. Post-transaction, Steve will continue to do what he does best – lead Binford’s talented employee base and deliver outstanding value to residential and commercial fencing contractors. Steve will also be involved in evaluating and integrating future distribution business acquisitions. I know we can learn from each other and can’t wait to see how he helps drive U.S. Fence Solutions’ success going forward.”
Zach Coopersmith, Managing Partner of BIP, commented, “The transaction enabled Steve to take some well-earned chips off the table, and reduce his risk as a sole owner, but still participate meaningfully in the future success of the business. Further, Steve wanted to continue to lead Binford and be an integral part of building an industry-leading, national fencing company into the future. We are excited to see what Steve can do in partnership with Allan Breidenbach, CEO of U.S. Fence.”
Steve Stanley, owner of Binford, commented, “I’ve had several opportunities over the years to partner with other groups, but I was looking for a partner who knew my industry to help me best ensure the business’ long-term success and achieve what I know is possible for the business. Allan and the entire BIP team bring the right experience, knowledge and professional values that will help Binford get to the next level of success. It is an exciting time for my people and me as we become part of building a special organization in the fencing industry.”
U.S. Fence Solutions will actively seek to partner with, invest in and/or acquire, strong independent fencing businesses nationwide.
Background of Building Industry Partners
Building Industry Partners (“BIP” or the “Firm”) 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 soon to add an office in Boston) 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 Operating Advisor 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.