Colony Hardware Announces Promotion of Michael Weiner to Chairman and President and Mark Patton to CEO
ORANGE, Conn.--(BUSINESS WIRE)--Jan 6, 2020--
The Board of Directors of Colony Hardware, Inc. (“Colony” or the “Company”), a leading direct-to-jobsite distributor of construction materials and jobsite supplies serving construction firms and specialty contractors across a variety of end markets, have announced the promotion of Colony founder Michael Weiner to Chairman and President, and Mark Patton to Chief Executive Officer. The new roles are reflective of both executives’ exceptional contributions to the Company and help position Colony for continued organic and acquisition growth.
Michael Weiner acquired Colony from the original owners and founded the direct-to-jobsite distribution model in 1988. He has since built the business from a single hardware store in Meriden, CT to a leader in direct-to-jobsite distribution of construction materials and jobsite supplies with 35 branches across 11 states, providing exceptional customer service while navigating the rise and fall of home centers and the emergence of big box retailers. Michael focuses on sales and business development efforts for Colony, managing a large and growing inside and outside sales force.
Mark Patton joined Colony in 2011 as CFO/COO. Mark has been a catalyst for the growth of the business from three branches in 2011 to 35 branches today. Closely involved in acquisitions for Colony, Mark has been instrumental in Colony’s completion of 18 acquisitions since 2013. Prior to Colony, Mark held the role of CFO at Matco-Norca, Inc., and various General and District Manager roles with Ferguson Enterprises.
“Colony is a leader in the consumable construction tools, safety equipment, and jobsite supply market with a differentiated hub-and-spoke distribution model and exceptional customer service,” said Young Lee, Managing Director at Audax Private Equity, who partnered with Colony in 2018.“ Michael and Mark have delivered strong organic and inorganic results for Colony over the past several years. We look forward to their continued contribution and leadership as they help drive our collective strategy.”
Joe Rogers, Managing Director at Audax Private Equity, added, “Michael and Mark are critical to Colony’s historical and future success, we congratulate them on their new roles and look forward to working with them as we continue to grow the business.”
About Colony Hardware
Colony Hardware is a leading direct-to-jobsite distributor of construction materials and jobsite supplies serving construction firms and specialty contractors across a variety of end markets. Colony provides a comprehensive portfolio of products including power tools, safety, personal protective equipment, fasteners and more from industry leading brands and suppliers. The company is headquartered in Orange, CT and has 34 branches across the Northeast, Midwest, Mid-Atlantic, and Florida. For more information, visit https://www.colonyhardware.com/.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, please visit the Audax Group website www.audaxgroup.com.
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CONTACT: Kevin Lamourex
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: OTHER RETAIL OTHER CONSTRUCTION & PROPERTY RETAIL COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Colony Hardware, Inc.
Copyright Business Wire 2019.
PUB: 01/06/2020 08:00 AM/DISC: 01/06/2020 08:01 AM