April 3, 2012

A former co-founder of Building Industry Partners has formed a new venture that targets privately owned “middle market” LBM companies. Anchor Peabody LLC, founded by Jason Fraler, offers private equity capital, mergers and acquisitions and debt advisory to the building and construction industry. 

Joining the firm’s advisory board is Tony DeCarlo, the former CEO of Lumbermens Merchandising Corporation (LMC).

March 16, 2012

In a move to ensure that vendors continue to supply Sears its goods, Sears Holdings Corp.'s top shareholder ESL Investments, a hedge fund owned by Edward Lampert, has agreed to assume some payment obligations.

In a filing with the U.S. Securities and Exchange Commission on Wednesday and reported by Reuters, Sears said ESL made a deal on Jan. 26 with a financial institution to acquire 80% interest in an agreement designed to ensure payment to vendors in the event of a bankruptcy filing by a company.

January 12, 2012

Waypoint Real Estate Group, one of the nation's leading acquirers of distressed, single-family properties, and GI Partners, a mid-market private equity firm, have announced a partnership where they will acquire and then rent out more than $250 million in single-family homes. Ultimately, GI hopes to invest more than $1 billion in distressed and foreclosed homes over the next two years, with Waypoint managing the acquisitions and rental conversions.

December 2, 2011

Morrison Supply Co., the fourth-largest distributor of plumbing and HVAC supplies in the United States, has sold a majority share to private equity firm Advent International.

Founded in 1917, Morrison is now the largest distributor of plumbing supplies in the southwestern United States. The company has 77 branches and showrooms, located in Texas, New Mexico, Oklahoma, Louisiana, Arkansas and Kansas. Morrison has several lines of business, including plumbing, heating, ventilation & air conditioning (HVAC), industrial pipes, valves & fittings, oil & gas and waterworks.

October 28, 2011

Benton Harbor, Mich.-based Whirlpool Corp. posted third-quarter net earnings of $177 million, compared with net earnings of $79 million in the same period last year. Sales in the quarter were $4.6 billion, up 2% to $4.5 billion reported in the third quarter of 2010. 

August 31, 2011

I’ve been in the home improvement industry for 25 years, and I cannot remember a time with so much divergent information on where we stand and where we are heading. 

August 29, 2011

The two-day HIRI Home Improvement Industry Summit to be held Oct. 19 to 20 in Chicago at the Holiday Inn Chicago Mart Plaza, will kick off with a presentation examining economic turmoil and a view from Wall Street.

Josh Rosenbaum, managing director – global industrial group for UBS, will offer thoughts on the direction of the economy, the possibility of another recession, the mood on Wall Street and the unemployment situation. The presentation will address the hottest issues facing the economy and the industry from a Wall Street perspective.

July 15, 2011

An article in USA Today points to concerns over uncertainty about foreclosure rules, and their impact on the housing market recovery.

While about one million financially distressed Americans could stay in their homes longer thanks to foreclosure processing delays, but the result for the general housing market could be a delayed recovery, according to the article.

April 13, 2011

TimberWest Forest Corp., Western Canada's largest private timber and land management company, has entered into a purchase agreement with two Canadian pension funds, British Columbia Investment Management Corporation and the Public Sector Pension Investment Board.

March 11, 2011

In what could be called a sign of recovery, some long-dormant commercial and multi-family projects have kicked back into gear thanks to an infusion of new lending, according to an article in the Wall Street Journal.

Some of the largest U.S. banks are slowly wading into commercial lending, including J.P Morgan Chase & Co., which has financed as much construction in the first six weeks of 2011 as it did in all of last year.

March 7, 2011

“There are no sissies left in this business.”

That’s the official Home Channel News quote of the month, from Rick Frost, the CEO of Nashville, Tenn.-based Louisiana-Pacific.

February 28, 2011

The Founder of Rent-a-Husband has agreed to pay $2 million to settle criminal charges that claimed he duped investors in his home-repair business, according to an article in The Independent and other media outlets. 

February 28, 2011

Winchester, Va.-based Trex Co. reported net sales for the fourth quarter of 2010 totaled $75.3 million, up 47% from net sales of $51.2 million for the 2009 fourth quarter. 

The wood-alternative decking and railing manufacturer reported a net loss of $0.5 million in the quarter ended Dec. 31, 2010, compared with a net loss of $0.3 million in the 2009 period. 

December 9, 2010

New Britain, Conn.-based Stanley Black & Decker President and CEO John Lundgren will present at the Bank Of America Merrill Lynch Global Industrials Conference on Wednesday, Dec. 15th, 2010 at 1:25 pm eastern standard time.

The webcast will be available on the company’s website.  


October 20, 2010

Chicago-based USG Corp., parent company of North American Gypsum and owner of the Sheetrock brand,...

October 11, 2010

Barbara Alexander serves as a director of Allied World Assurance Company Holdings and Qualcomm Inc....

December 18, 2008

The plan from billionaire Pickens now calls for energy efficiency....

December 11, 2008

The labor dispute at the Republic Windows and Doors factory in Chicago ended after six...

December 11, 2008

Citing the fallout from a stronger U.S. dollar and “rapidly deteriorating business conditions” in its...

November 12, 2008

U.S. foreclosure filings increased 5 percent from September to 279,561 properties this month -- one...

November 2, 2008

In January, this editor predicted that the Dow Jones Industrial Average would finish the year...

November 2, 2008

Building Materials Holding Corp. (BMHC), the San Francisco-based pro dealer, was set at press time...

October 19, 2008

The HCN Stock Index grew to 753.74 on Monday...

October 16, 2008

Building Materials Holding Corp. (BMHC) could lose its listing on the New York Stock Exchange...