ABC Supply acquires Lee Wholesale Supply
ABC Supply has acquired substantially all of the assets of Lee Wholesale Supply, a distributor specializing in steep-slope roofing, siding and windows with four locations in the Michigan communities of Livonia, Macomb, New Hudson and Port Huron.
“We are actively looking for acquisitions that will allow us to continue growing and make us an even stronger partner for our customers, and Lee Wholesale certainly fits that profile,” said David Luck, president and CEO of ABC Supply.
Lee Wholesale complements ABC Supply’s existing locations in Southfield, Taylor and Warren, bringing the total number of locations that serve contractors in the Detroit market area to seven.
Customers of Lee Wholesale will continue to find familiar faces behind the counter, with the Lee Wholesale team — including former owner John Wrobleski and other members of the Wrobleski family — joining ABC Supply.
“Contractors will continue to work with the people they’ve come to know, trust and rely on, and the branches will continue to offer the products, brands and services that customers have come to expect at all former Lee Wholesale locations,” Luck said. “The only visible difference will be the name on the door. We are excited to have John and his team join the ABC Supply family and look forward to serving our new customers in the Detroit metropolitan area.”
ABC Supply has more than 450 branches in 45 states.
BlueLinx announces expiration of rights offering
Atlanta-based LBM distributor BlueLinx Holdings Inc. announced the expiration of the subscription period for its previously announced $40 million rights offering.
The subscription period for the rights offering expired at 5:00 p.m., New York City time, on March 27, 2013. The rights offering was over subscribed and, as a result, BlueLinx expects to receive net proceeds of approximately $38.7 million from the offering.
Following the issuance of the newly subscribed shares, which is expected to occur on or about April 1, 2013, BlueLinx will have approximately 86,612,039 total shares outstanding.
The company serves about 11,500 customers nationwide, including dealers, industrial manufacturers and home improvement retailers.
LMC goes Hollywood as it recognizes excellence
Wayne, Pa.-based LMC — Lumbermens Merchandising Corp. — a nationwide lumber and building materials buying group in the United States and the Bahamas, held its annual meeting in Anaheim, Calif., sporting a Hollywood theme.
This first LMC Annual Meeting ever to take place on the West Coast was well attended by both LMC dealers and suppliers. The number of new attendees was the highest for any LMC annual meeting to date.
LMC announced new dealers joining the group, particularly in Alaska, which puts the buying group in all 50 states.
John Somerville, LMC’s president and CEO, said the meeting is important for their independent lumberyards and building material dealers for its educational advantages and the relationships it builds between LMC Dealers and LMC Suppliers. “LMC’s brand ‘Building Business Together’ comes alive at these events,” said Somerville. “We see an upbeat atmosphere of optimism among both LMC dealers and suppliers. Indicators show that positive things are happening in the housing market, and if the market develops like many of the industry experts predict, LMC dealers are positioned well for capturing this growth. With the support of our supplier community we are primed for solid growth in 2013, coming off a strong 2012.”
Special recognition was given to Leonard Safrits, Beaufort, N.C.-based Safrit’s Building Supply during the event. Safrit’s received industry recognition for operational excellence.
LMC Dealers reviewed nearly 100 new products on display designating the top three as best new products of the year. First prize was awarded to Velux for its new energy-saving Solar Powered “Fresh Air” Skylight. Belwith Products took the second prize award for its Light Integrated Decorative Trim. Home Tops received third prize recognition for its new Odyssey Hand Rail Illumination.
LMC’s 2014 Annual Meeting is scheduled for March 5 through 7 in Tampa, Fla.