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Jason Munoz

Managing Director, Building Products & Building Services at FMI Capital Advisors

Denver, Colorado

JM
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Why they matter

A 20-year building-products M&A specialist who co-built and sold his own boutique bank, giving him deep, first-hand deal flow across the sector's owner-operators.

Background

Jason Munoz is a Managing Director at FMI Capital Advisors, where he co-leads coverage of the Building Products & Building Services sector. He spent over 20 years in M&A advisory, co-founding SLATE Partners LLC in 2014 with Aaron Bachik to focus exclusively on building materials and building services transactions; SLATE was acquired by FMI Corporation in October 2022, forming the core of FMI's investment banking practice. Earlier in his career he was a Managing Director at Green Manning & Bunch and an investment banking Vice President at J.P. Morgan.

Notable deals

  • 2022
    Co-founded SLATE Partners LLC, later acquired by FMI Corporation to build out FMI Capital Advisors' investment bank
  • 2017
    Advised Republic Elite, LLC (a FC Crestone portfolio company) on its merger with LDC Stone, Inc.

Call-prep brief

Background

  • MD at FMI Capital Advisors, Building Products & Building Services group, based in Denver.
  • Co-founded SLATE Partners LLC (2014) with Aaron Bachik, an exclusively building-materials/services-focused boutique bank; acquired by FMI Corporation in Oct 2022.
  • Prior stops: Green Manning & Bunch (8 years, building materials group) and J.P. Morgan investment banking.
  • Colorado Boulder BA in Finance; MBA, UVA Darden.

Current focus

  • Sell-side and buy-side M&A for family/entrepreneur-owned and PE-backed building products, building materials, and building services companies nationwide.

What he cares about

  • Sector specialization over generalist coverage, SLATE's whole thesis was staying niche to building materials/services.
  • Founder and family-owned business dynamics (many SLATE deals were first-generation owner exits).
  • Long-term relationship-building with PE sponsors who repeat-buy in the space.

Recent moves

  • Integrating SLATE's legacy client relationships into FMI's larger platform since the 2022 acquisition, likely broadening his deal aperture (larger check sizes, more sponsor-backed processes).

Sensitivities

  • As a sell-side/buy-side advisor, he owes confidentiality to current mandates. Expect him to speak in generalities about live processes.
  • Founder-turned-employee dynamic post-acquisition; gauge how much autonomy/incentive alignment he has inside FMI now vs. running SLATE independently.

Questions to ask

  1. Which building products sub-verticals (distribution, specialty manufacturing, installation/services) are seeing the most active deal flow and multiple expansion right now?
  2. What made the SLATE-to-FMI combination work, and how has client reception differed pre- vs. post-acquisition?
  3. Among founder-owned building materials businesses he's advised, what recurring diligence issues or deal-breakers show up most often?

Outreach draft

Subject
Building products M&A perspective, quick call?
Jason, Your work building SLATE Partners around building materials and building services, and carrying that focus into FMI Capital Advisors, stood out as we map the sector's active advisors and deal flow. We're a private equity team evaluating opportunities in building products distribution and related services, and we'd value your read on where multiples and deal activity are heading, especially among founder-owned businesses. Would you have 20 minutes in the next couple of weeks for a call? Happy to work around your schedule. Best, [Placeholder Name]

Linked companies

Sources