Building Materials Holding Corp., Boise, ID, has completed its financial restructuring and emerged from Chapter 11. Secured lenders for the distributor of building materials and construction services to professional home builders and contractors converted debt into equity and are now the owners of the reorganized privately held company, now known as BMC SELECT.
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\”Like every business associated with residential housing and construction, our company has faced unprecedented challenges during the last few years,\” CEO Paul Street says. \”However, we’ve emerged quickly with a stronger balance sheet, enhanced liquidity, and a streamlined cost structure. And we’re not just leaner, but greener, as well, with a deeper understanding of emerging trends like sustainable building and smart growth.\”
Stan Wilson will continue to serve as president and COO of the new company, and Danny McQuary, who will serve as CFO.
BMC SELECT employs more than 3,700 people and operates in 11 states and 16 markets.
