Building Products Investment Banking


Over the years, our building products investment banking professionals have gained a wealth of knowledge and expertise completing merger and acquisition transactions, as well as capital raises for privately held manufacturers, distributors, service providers, and retailers of building materials and related products.

Recent Transactions

Our team of building products investment banking professionals understand the architectural specification and contractor bidding process, the impact of fluctuating commodity prices and the importance of inventory management. We are able to gain a quick grasp of your business and immediately identify and clearly articulate the key value drivers that will ultimately maximize value.

We focus on the following sub-sectors:  Architectural Products, Automation, Cabinetry/Hardware, Concrete & Masonry, Decking, Erosion Control/Geotextiles,  Fireplace Construction, Fire Protection, Flooring, Furnishings/Lighting, Green Build, HVAC, Home Automation, Kitchen/Bath, Metal Fabrication & Erection, Millwork, Pipes Valves & Fittings, Roofing, Stone/Hardscapes, Waterworks and Windows/Doors.

What our Clients Are saying

  • “This was a complex assignment due to the number of entities involved, the decentralized nature of our operations and the diversity of goals for the shareholder base. The Matrix team overcame every obstacle and guided us to a successful transaction for all concerned. I would recommend Matrix to any ownership group considering a transition.”

    Bill Updike, President
    CMA Supply Co., Inc.
  • “The Matrix Team did a tremendous job on this very complicated transaction. Given the prolonged downturn in the residential and commercial construction markets over the last several years, this transaction was a good outcome for the Company, it’s shareholders and the community of Lawrenceville, VA.”

    Marvin Thomas, CEO
    Lawrenceville Brick, Inc.
  • “The team at Matrix provided valuable advice to me when I first acquired Riddleberger and have been a trusted advisor ever since. Their past experience in guiding private business owners through the M&A process, as well as their ability to work seamlessly with our attorney and accountant helped to make this a successful transaction for all parties involved. We were very pleased with the outcome.”

    Jim Young, President & CEO
    Riddleberger Brothers, Inc.
  • “Matrix proved to be an invaluable partner in the process of identifying the right financial partner to help take the company to the next level and in negotiating the best terms and conditions on behalf of Tri State’s shareholders.”

    Kevin Farrell, President & CEO
    Tri State Foam
  • “The professionals at Matrix guided us through an extensive process to identify, approach and negotiate a sale of our composites business. They were with us throughout the entire process, and in the final analysis, provided us with the confidence that we had received the best deal possible from a buyer that represented an ideal suitor for our business.”

    Jon Painter, President
    Kadant Composites

Bldg. Prod. Transactions

  • CLIENT
  • Client Description
  • Transaction Description
  • TYPE
  • Client Location
  • DATE
  • CLIENT: Dealers Building Supply, Inc.
  • Client Description: A value-added distributor of doors, door hardware, and fireplaces to homeowners, professional contractors and developers in the residential and commercial end-markets
  • Transaction Description: Advised on the sale of Dealers Building Supply, Inc. to an Investor Group including The Firefly Group and Kocolene Development Corporation
  • TYPE: Company Sale
  • Client Location: Indianapolis, IN
  • DATE: October 2016
  • CLIENT: CMA Supply Co., Inc.
  • Client Description: A regional distributor of concrete and masonry products and accessories to professional contractors in the residential, commercial, and industrial end-markets
  • Transaction Description: Advised on the sale to Carter-Waters, LLC, a portfolio company of Merit Capital Partners and Aiglon Capital Management, LLC
  • TYPE: Company Sale
  • Client Location: Indianapolis, IN
  • DATE: December 2015
  • CLIENT: Ashton Lewis Lumber Co.
  • Client Description: One of the premier producers of Southern Yellow Pine Lumber in the Southeastern United States
  • Transaction Description: Advised on the sale of the assets of The Coxe Companies, including Ashton Lewis Lumber Co., to a privately held company
  • TYPE: Company Sale
  • Client Location: Gatesville, NC
  • DATE: February 2014
  • CLIENT: Ontario Hardwood Co., Inc.
  • Client Description: A hardwood lumber manufacturer
  • Transaction Description: Advised on the valuation of the common equity of Ontario Hardwood Co., Inc.
  • TYPE: Corporate Valuation
  • Client Location: Keysville, VA
  • DATE: December 2012
  • CLIENT: The Wagner Group
  • Client Description: A leading manufacturer and exporter of hardwood lumber in the Northeast region and one of the largest sawmill operations in the nation
  • Transaction Description: Advised on the sale to Baillie Lumber
  • TYPE: Company Sale
  • Client Location: Owega, NY
  • DATE: July 2012
  • CLIENT: Coastal Lumber/American Industrial Partners
  • Client Description: Regional producer of high grade, green sawn and kiln dried hardwood lumber
  • Transaction Description: Advised on the acquisition of Coastal Lumber Company
  • TYPE: Buy-Side Advisory
  • Client Location: Charlottesville, VA
  • DATE: October 2011
  • CLIENT: Lawrenceville Brick, Inc.
  • Client Description: A leading regional brick manufacturer that serves both residential and commercial customers offering a wide range of brick styles, colors and textures
  • Transaction Description: Advised on the sale of the assets to Redland Brick, Inc., a subsidiary of Belden Brick Company
  • TYPE: Company Sale
  • Client Location: Lawrenceville, VA
  • DATE: July 2011
  • CLIENT: Riddleberger Brothers, Inc.
  • Client Description: An established leader in the engineering, installation and maintenance of mechanical systems in Central and Western Virginia and serves a diverse group of commercial and institutional clients
  • Transaction Description: Advised on the sale to Comfort Systems USA (NYSE:FIX)
  • TYPE: Company Sale
  • Client Location: Mount Crawford, VA
  • DATE: February 2008
  • CLIENT: Tri State Foam Products, Inc.
  • Client Description: A leading manufacturer of expanded polystyrene foam with products ranging from protective packaging to building products applications
  • Transaction Description: Advised on the sale to Harbert Private Equity Fund II, LLC
  • TYPE: Recapitalization
  • Client Location: Martinsville, VA
  • DATE: December 2006
  • CLIENT: Kadant Composites
  • Client Description: A leading manufacturer of composite decking and roofing products under the GeoDeck brands and a subsidiary of Kadant Inc. (NYSE: KAI)
  • Transaction Description: Advised on the sale to Liberty Diversified Industries
  • TYPE: Company Sale
  • Client Location: Green Bay, WI
  • DATE: November 2005
  • CLIENT: Paddock Pools
  • Client Description: The largest contractor of underground pools, patios and spas in Arizona and Nevada
  • Transaction Description: Advised on the sale to select members of management and Lincolnshire Management, Inc.
  • TYPE: Company Sale
  • Client Location: Scottsdale, AZ
  • DATE: April 2005
  • CLIENT: Excel Homes
  • Client Description: One of the largest builders of high-end modular homes in the country with three plants in Pennsylvania and West Virginia
  • Transaction Description: Advised on the recapitalization by Huron Capital Partners
  • TYPE: Recapitalization
  • Client Location: Harrisburg, PA
  • DATE: December 2004
  • CLIENT: ATCO
  • Client Description: A producer of prefinished, engineered hardwood flooring with a special focus on the management of quality hardwood timber stands and the production of hardwood lumber for domestic and foreign use
  • Transaction Description: Advised on the management buyout of Anderson Tully Engineered Wood and Capella Hardwood Floors to an investment group affiliated with management
  • TYPE: Management Buyout
  • Client Location: Jackson, MS
  • DATE: July 2004
  • CLIENT: New England Surfaces
  • Client Description: New England’s leading distributor of kitchen and bathroom building products, including Dupont branded solid surface (Corian) and engineered stone (Zodiaq) countertops and Merillat branded cabinetry and vinyl & laminate flooring
  • Transaction Description: Advised on the recapitalization by Citizens Capital, Inc. and Banknorth NA
  • TYPE: Capital Raise of Debt & Equity
  • Client Location: Lewiston, ME
  • DATE: June 2004
  • CLIENT: Bolection Door
  • Client Description: A producer of medium density fiberboard doors
  • Transaction Description: Advised on the sale to Marshfield Door Systems, a portfolio company of Wind Point Partners
  • TYPE: Company Sale
  • Client Location: Greensboro, NC
  • DATE: June 2004

Bldg. Prod. Press Releases

  • October 6, 2016 -
    Matrix Announces the Successful Sale of Dealers Building Supply, Inc.

    RICHMOND, VA – October 6, 2016 – Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce that it advised on the successful acquisition of Dealers Building Supply, Inc., d/b/a Dealers Wholesale (the “Company”) supported by The Firefly Group and Kocolene Development Corporation. The investment positions the Company to further enhance market penetration and expand […]

  • December 9, 2015 -
    Matrix Announces the Successful Sale of CMA Supply Co., Inc.

    RICHMOND, VA – December 9, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of CMA Supply Co., Inc. (“CMA Supply” or the “Company”) to Carter-Waters, LLC, a Kansas City, Missouri based portfolio company of Merit Capital Partners and Aiglon Capital Management, LLC. The acquisition forms a seventeen location platform across Indiana, […]

  • July 25, 2011 - RICHMOND, VA
    Matrix Announces the Acquisition of Lawrenceville Brick Assets by Belden Brick of Canton, OH

    RICHMOND, VA – July 25, 2011 – Matrix Capital Markets Group, Inc. is pleased to announce that Ohio based Belden Brick Company, through its subsidiary Redland Brick, has acquired the assets of Lawrenceville Brick, Inc., “Virginia’s Finest Brick Maker.” Matrix served as the exclusive financial advisor to both Lawrenceville Brick and the special committee to […]

  • February 29, 2008 - RICHMOND, VA
    Matrix Announces the Successful Sale of Riddleberger Brothers, Inc.

    RICHMOND, VA – February 29, 2008 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Riddleberger Brothers, Inc. to Comfort Systems USA, Inc. (NYSE: FIX), the nation’s premier mechanical systems installation and service provider headquartered in Houston, Texas. Riddleberger Brothers is based in Mount Crawford, VA and is […]

  • January 9, 2007 - RICHMOND, VA
    Matrix Capital Markets Group Announces the Successful Recapitalization of Tri State Foam Products, Inc.

    RICHMOND, VA – January 9, 2007 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the recapitalization of Tri State Foam Products, Inc., a Martinsville, Virginia based manufacturer of expanded polystyrene foam (“EPS”). Harbert Management Corporation, a $7.1 billion private investment firm headquartered in Birmingham, Alabama, is the primary investor in […]

  • November 2, 2005 - RICHMOND, VA
    Matrix Capital Markets Group, Inc. Completes Sale of Kadant Composite Building Products Business to Liberty Diversified Industries

    RICHMOND, Va.–(BUSINESS WIRE)—Nov. 2, 2005— Matrix Capital Markets Group, Inc. recently announced the successful closing of the sale of Kadant Composites LLC, a leading manufacturer of composite decking and roofing products, to Minneapolis -based LDI Composites. Kadant Composites is a subsidiary of Kadant Inc. (NYSE: KAI). LDI Composites is a subsidiary of Liberty Diversified Industries […]

Bldg. Prod. Team

David W. Shoulders

Managing Director, Head of Consumer & Industrial Products Group dshoulders@matrixcmg.com (804) 591-2034

David is Head of the Consumer & Industrial Products Group.  He has many years of financial and merger & acquisition advisory experience and has managed a variety of transactions with privately-held, middle-market companies since joining Matrix in 2006. These transactions primarily include sell-side strategic advisory assignments and private placements of debt and equity. Prior to […]

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William J. O’Flaherty

Vice President woflaherty@matrixcmg.com (804) 591-2053

William is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix in 2011, William was a member of Wells Fargo Securities’ Industrials investment banking team in New York. His […]

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Robert A. Nickle

Senior Analyst rnickle@matrixcmg.com 804-591-2066

Robbie is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix, Robbie was an Associate Equity Analyst with BB&T Capital Markets and Senior Financial Analyst with Capital One. Robbie […]

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Martin C. P. McElroy, Jr., CFA

Analyst mmcelroy@matrixcmg.com 804-591-2035

Martin is a member of the Consumer & Industrial Products Group and is responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Prior to joining Matrix, he was an Equity Research Associate Analyst with Stifel Nicolaus in the Industrials group. Martin graduated from the […]

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