Broadview Group Acquires Coffman Stair Parts
Broadview Group Holdings, LLC (“Broadview”), a leader in direct middle-market investing, announced today its investment in Coffman Stair Parts (“Coffman” or the “Company”) in partnership with Hunters Gate Holdings, LLC. Terms of the transaction were not disclosed.
Founded in 1874, Coffman has been a national leader in residential stair parts distribution in the United States for more than 148 years. The Company serves a highly diversified customer base of lumberyards, professional dealers, stair builders and installers, and home improvement retailers. With three strategically located distribution facilities in Texas, Georgia, and New Jersey, the Company maintains a strong foothold east of the Rocky Mountains, enabling the Company to service customers in many of the largest, fastest growing population centers in the United States.
“Coffman’s leadership team has an exceptional reputation in their markets, and the Company’s market leadership is due in large part to a culture focused on differentiated and highly reliable customer service.” said Clay Hunter, Co-Founder and Chief Executive Officer at Broadview. “We believe the structural undersupply of single-family housing in the U.S. must, over the long-term, correct, providing Coffman a solid foundation from which to build further scale. Our unique structure, permanent capital base, and long-term investment horizon allow us to support outstanding businesses like this when others find it difficult. We are thrilled to welcome Coffman to the Broadview platform and look forward to supporting Coffman as they embark on their next stage of strategic growth.
“Broadview brings a long track record of investing and operating experience, support, and resources that will enable us to accelerate our growth,” said Derek Barksdale, Coffman’s president. “Broadview shares our vision to grow Coffman well beyond its current scale through initiatives that create value for our customers and through the execution of strategic acquisitions. Building a premier market leader takes time. Broadview’s permanent capital base and long-term investment approach were clear differentiators as we selected our ideal next partner.”
ABOUT BROADVIEW GROUP
Broadview Group invests in and partners with successful business owners and growth-oriented leadership teams to help scale and create significant and sustainable value in niche manufacturing, specialty distribution, business services, and B2B food and agriculture businesses. Broadview’s permanent capital base and long-term perspective enable true alignment with its partners and portfolio companies. Broadview Group’s principals have decades of experience leading and scaling businesses and providing strategic insight and other expertise as executives, lead investors and board members in a variety of businesses and industries.
ABOUT COFFMAN STAIR PARTS
Founded in 1874, Coffman Stair Parts is the oldest and one of the largest distributors of residential stair parts in the United States. From its headquarters in Plano, TX and additional facilities in Austell, GA and Edison, NJ, Coffman provides a highly diversified customer base a one stop shop for residential, interior stairway design and construction, supplying a complete collection of wood and iron stair parts and related accessories required to assemble staircase systems.