Goense Bounds & Partners Forms US Builder Services, LLC, Acquires Capital Drywall, Inc.

LAKE FOREST, Ill. -- Today, Goense Bounds & Partners (GB), a private equity firm, announced the formation of US Builder Services, LLC (USBS) as the holding company for its portfolio companies, L&S Plumbing and Melco Electric. Additionally, it announces the acquisition of Capital Drywall, Inc. of San Dimas, California. USBS was financed by Dymas Capital Management, LLC, Audax Group and Oaktree Capital Management, LLC, and becomes a significant player in residential builder services. Management personnel in the three operating companies are shareholders in USBS.

At $300 million in revenues, USBS supports production homebuilders in the fast growing Sunbelt states by offering drywall, plumbing and electrical services to companies that are market leaders in their areas. Newly appointed CEO, Andrew Reed, will run USBS. Reed was previously with Robert Bosch Tool Corporation, where he was most recently president, Skil North America. His leadership in the building industry makes him an ideal candidate to manage this strong group of services companies.

"By forming USBS, we are better able to support the growth of the production homebuilder as they continue to expand rapidly and require more from their subcontractors," said Reed.

Brief descriptions of the three companies within USBS are as follows:

--Capital Drywall is the largest residential drywall contractor is Southern California serving both the single family and the multi-family homebuilder. Capital's predecessor company was founded more than 20 years ago and operates in Los Angeles, Orange County, San Diego and the Inland Empire.

--L&S Plumbing is the largest residential plumbing contractor in Texas serving primarily the single-family homebuilder. Founded more than 20 years ago, L&S now operates in four locations in Texas and recently opened an Albuquerque, N.M. office.

--Melco Electric is the largest residential electrical contractor in Florida serving primarily the single-family homebuilder. Melco was founded more than 15 years ago and now serves eight markets throughout Florida.

In assessing the market trends John Goense, managing director of GB said, "The USBS concentration into the Sunbelt states allows us to participate in the current and long-term growth demand for housing caused by population shifts, immigration and job creation. Through the existing scale and efficiency within each company, USBS can provide the necessary platform to meet the increasing production demands of the large regional and national homebuilders."

GB and USBS are actively evaluating numerous acquisitions in several Sunbelt markets and across the residential building trades.

About Goense Bounds & Partners

Goense Bounds & Partners is a private equity firm focused on investing in leading middle market companies with the potential to grow rapidly. Over 17 years of investing, the principals of Goense Bounds & Partners have made 26 platform acquisitions and 84 add-on acquisitions. Investing $10-$30 million in companies with $2 million or more of EBITDA, Goense Bounds & Partners focuses primarily on investing in the building materials and services, consumer products and business services industries. For more information visit www.goensebounds.com or contact John Goense, Mark Bounds or Erik Bloom at [phone].