Raleigh-based Stock Building Supply said today it has an agreement in place to buy the assets of Bison Building Holdings, a building supplier in the Houston area that filed for bankruptcy last year.
This is Stock's second acquisition in the last several months. In February, Stock said it had reached a "stalking horse" agreement to purchase the assets of an Arkansas building supply company that also filed for bankruptcy. That agreement means Stock has been chosen as the intial buyer for the company's assets.
Bison's focuses on the residential market. Stock, which itself went through bankruptcy last year, has been shedding assets in order to focus on the residential market.
Stock CEO Joe Appelmann said earlier this year that the company would be on the prowl for acquisition targets.
Stock is flush with cash thanks to a $75 million infusion from The Gores Group, the California private equity firm that owns a 51 percent stake in the company.