Regimen Equity Partners makes investment in Central
VANCOUVER, British Columbia, May 27, 2022 (GLOBE NEWSWIRE) — Regimen Equity Partners Inc. (“Regimen”) is pleased to announce an investment in Central Builders’ Supply Ltd. (“CBS” or the “Company”) headquartered in Courtenay, BC on Vancouver Island. Regimen is partnering with the Company’s experienced operating partners, Messrs. Grant Skelly, Rick Fisher and Paul Luksay (the “Principals”). CBS is Regimen’s eighth platform investment and includes the co-investment participation of one of Regimen’s top investors, Nicola Wealth. The Company has a 98-year history and is one of the preeminent suppliers of building products to Vancouver Island’s growing communities. CBS operates five lumber yards from Campbell River to Chemainus and employs over 160 staff. Additionally, Regimen has acquired an interest, alongside the Principals, in three of the underlying properties where CBS operates.
CBS has distinguished itself by offering a personalized level of service and top tier logistics, which has resulted in long tenured customer relationships and profitability. CBS serves as a critical link between its suppliers and diverse customer base, offering lumber, drywall, insulation and other building materials. The Company provides a one-stop, comprehensive offering to its end-customers, primarily construction contractors. CBS’s locations are situated in areas experiencing significant growth, beside major transportation routes and in direct proximity to major customers, serving Vancouver Island’s growing residential and commercial building market. The Company is expanding its footprint with a greenfield site in Langford and expansion in Campbell River.
The CBS team has a proven track record of success and are well-known and respected throughout Vancouver Island. Rick Fisher and Paul Luksay will continue to lead CBS through its next phase of growth and Grant Skelly will provide his valuable expertise and industry knowledge. Gerry Bellerive, Managing Director at Regimen added “The CBS senior team and their employees personify a hard-working, customer-first, do-what’s-right business ethic that has served them well and that we are fortunate to be associated with. We are excited for our future together as partners while Vancouver Island continues to be the residence of choice for an increasing number of Canadians.”
“We’re pleased to be partnering with the Regimen Equity Partners team. Their relationship focused approach fits extremely well with our corporate culture. Knowing Regimen will be our partner for a long time made a big difference in our decision to take on a private equity investor,” said Rick Fisher. “We’re excited to be able to incorporate Regimen’s experience and contacts in taking Central Builders’ Supply to the next level of our growth which will benefit our customers, employees and suppliers.”
Cooper Seeman, Managing Director at Regimen, added, “CBS is a wonderful addition to our cross Canada portfolio of quality private businesses. The CBS team valued Regimen’s long hold investment mandate. Knowing we have no plans to sell the Company provides our partners peace of mind so they can focus on growing the Company. We respect each other’s integrity, clear communication and relationship-first approach to business.”
About Central Builders’ Supply
Located on Vancouver Island and serving the Island’s most populated regions, CBS is a leading, full-service distributor and retailer of building products and materials. CBS’s product offering includes lumber, drywall, insulation, roofing materials and associated products. CBS works with its long-standing suppliers, consisting of leading building products manufacturers, to ensure that the most relevant products are available for its local markets. CBS serves a loyal contractor and do-it-yourself customer base, providing a personalized level of customer service and custom job site delivery.
About Regimen Equity Partners
Regimen is a private equity firm specializing in the ownership transition of small to mid-size Canadian organizations. By partnering with skilled executives, we transform profitable enterprises into industry leading players through strategic acquisitions and best management practices. Forming meaningful and lasting relationships, Regimen creates significant wealth over the long term through a multi-decade approach of measured and sustainable growth. Regimen has offices in Vancouver and Toronto. To learn more about Regimen Equity Partners, visit www.regimenpartners.com.
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