Agreement Formed

June 1, 2005
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Custom[r] Building Products has recently announced an agreement with Kelso & Co. of New York -- a firm specializing in private equity investing. The terms of the deal between the two privately held corporations provide for affiliates of Kelso & Co. to purchase a significant stock interest in Custom Building Products.

“The management of Custom Building Products looks forward to partnering with Kelso with the purpose of strengthening our company for the benefit of our customers and our employees,” said Thomas R. Peck II, president of Custom Building Products. “We will continue to exceed our customers' expectations by providing innovative products and services for the installation of tile and stone. Our entire organization is fully committed to customer satisfaction and profitable market growth.”

Custom Building Products, incorporated in 1965 by Thomas R. Peck and Mike Bilek, is celebrating 40 years of serving customers in the North American tile and stone markets. The business has been family owned since its founding, and today it operates 13 manufacturing and distributing facilities. Kelso & Co., recognized as one of the oldest and most established private equity investment firms, has extensive experience in the building products sector, including investments in American Standard Companies, Inc. and Nortek Holdings, Inc.

“Custom exemplifies the type of organization we seek to align ourselves with because it is customer focused, produces quality products, and has an experienced group of key managers and loyal employees,” said Frank K. Bynum, Jr., managing director of Kelso & Co. “Kelso is very excited to have the opportunity to help Custom Building Products reach its full potential in the markets it serves.”

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