Mark Zaret from Teraz Fund joins Sean Iddings to have a conversation with CEO Shawn Wilson of BuildDirect (TSX-V: BILD, OTC: BDCTF). This MicroCap Business Breakdowns discussion took place live on March 6th, 2025, on the MicroCapClub Community. https://microcapclub.com/join-now/

BuildDirect is focused on growing its presence in the North American flooring market through the organic development and acquisition of profitable brick-and-mortar locations known as ‘Pro Centers’. By consolidating a portion of the $90+ billion North American flooring market, BuildDirect aims to establish a solid foundation for future product expansion. 

BILD has strong momentum under its new leadership, with CEO Shawn Wilson and CFO Kerry Biggs—both seasoned executives with the expertise to drive results. They have reduced BILD’s cost of capital by renegotiating loans, streamlined their software systems, and focused on repeat pro customers (contractors) while expanding with new locations. These changes were made without harming BILD’s capital structure and with strong backing from major shareholders—three multi-billion-dollar entities that control ~80% of the shares.

With a current run rate of ~US$70M and a market cap at 0.6X sales, BILD is well-positioned to consolidate the highly fragmented flooring industry, which is dominated by small independent operators. Management’s goal is to grow from nine locations to 50+ locations using a disciplined, capital efficient, high IRR approach. Strong leadership, a tight share structure, and improving business fundamentals could set the stage for significant shareholder gains in the coming years. https://www.builddirect.com

MicroCap Business Breakdowns (MCBB), powered by MicroCapClub, is a monthly program where we invite leaders of unique microcap businesses to have in depth conversations with the MicroCapClub member/investor that knows the business best. In each conversation we look to drill down into the history, business, strategy, vision, and bull/bear case. The MicroCapClub community can tune in live and ask questions. We publicize each episode 1-2 weeks after the live discussion. https://microcapclub.com 

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