LUMBERYARDS

Amerhart fills new post of VP supply chain management

BY HBSDEALER Staff

Green Bay, Wis.-based building materials distributor Amerhart announced that Tom Miller will take over the newly created role of VP supply chain management. 

Miller is a 25-year industry veteran who most recently served the company in the role of national accounts manager.

Amerhart operates several distribution facilities in Wisconsin, Illinois, Michigan and Minnesota. It distributes building materials and lumber products to pro dealers, home centers and industrial accounts.

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Stock Building Supply prepares for IPO

BY HBSDEALER Staff

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Raleigh, N.C.-based Stock Building Supply announced on Tuesday morning details regarding its Initial Public Offering

The pro dealer, which will be traded on the Nasdaq Global Select Market, is looking to raise roughly $150 million by offering up some 8.8 million shares at an anticipated price of $16 to $18. The company’s ticker symbol will be “STCK.”

Stock Building Supply, formerly known as Carolina Holdings, has a rich history in the Mid-Atlantic and Southeast. It was also one of the first coast-to-coast building material dealers, and changed its name in 2000 to reflect its national footprint. 

The housing downturn took its toll on the company, which peaked in sales of $4.16 billion in 2005. Since then, a scaled-down version of Stock operates 53 locations. The company ranked ninth on the HCN Top 200 Pro Dealer Scoreboard with sales of $1 billion.

Private equity firm The Gores Group acquired a controlling interest in Stock in 2009, and acquired the remainder in November 2011.

Goldman, Sachs & Co., Barclays Capital Inc. and Citigroup are serving as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated is acting as lead co-manager, and Stephens Inc. and Wells Fargo Securities, LLC are acting as co-managers.

 

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U.S. Concrete’s Redi-Mix acquires Bodin assets

BY HBSDealer Staff

U.S. Concrete expanded its presence in Texas via the acquisition assets belonging to Bodin Concrete, L.P. Redi-Mix, LLC, a subsidiary of U.S. Concrete, will acquire three of Bodin’s ready-mixed concrete plants.

The plants, located in Wylie, Rockwall and Forney, Tex., complement Redi-Mix’s exsiting presence in the Dallas/Forth Worth area.

"With the continued residential market recovery and the anticipated commercial and infrastructure growth, we have long desired a presence in the eastern corridor," said U.S. Concrete president and CEO William J. Sandbrook. "We are extremely pleased to welcome these new operations to the Redi-Mix group and expect them to be important additions to our ability to service the expanding Dallas market."

Though U.S. Concrete specializes in both ready-mixed concrete and aggregate products, only seven of its 122 facilities focus on the latter. 

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