Oklahoma City-based distributor Cedar Creek will purchase distribution company Epperson Lumber of Statesville, N.C.
The two companies signed a "letter of intent" for the deal, expected to close in about 60 days.
Located near Charlotte, N.C., Epperson Lumber’s sales coverage area ranges East along the coast of the Carolinas; South to Charleston, S.C.; North to Richmond, Va.; and West to Knoxville, Tenn.
Bill Adams, CEO of Cedar Creek, said, “This acquisition underscores our commitment to growing the footprint of Cedar Creek and opening new markets. We view this as a great opportunity to increase our presence outside of our traditional mid-South markets and enter what’s forecasted to be one of the best growth areas in the country.”
Cedar Creek is a wholesale building material distribution company with 11 locations covering 12 states in the mid-South and Midwest. In May 2010, it was recapitalized by Boston-based Charlesbank Capital Partners, with the goal of providing flexible capital for the company to grow beyond its current trade areas.