HomeSphere In Management Buyout

Lakewood, Colorado-based HomeSphere, which operates a B2B service that connects home builders, manufacturers, and distributors, has been acquired by its management team, via a management buyout, the company said today. Financial terms of the deal were not disclosed. HomeSphere said that Cypress Growth Capital provided the financing for the deal. East Wind Advisors provided financial advice to the seller in the deal. As part of the buyout, the company said that Glenn Renner has become Chief Executive Officer of the company, with HomeSphere founder Jim Waldrop stepping out into the role of Chairman of a new Advisory Board for the company.