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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