CBC invests in Professional Builders Supply
Capitol Broadcasting Company (CBC) has acquired a substantial interest in Professional Builders Supply, a Morrisville-based distributor of building materials in the Carolinas.
The investment creates an equity partnership between CBC and PBS founder and CEO Van Isley, CFO Steve Lochbaum and founder and Wilmington Market president Troy Wilkerson.
"This investment continues a tradition of diversification at CBC," said CBC VP James Goodmon, Jr. "Without question our roots are in broadcasting, but over the years we've expanded our portfolio with properties like the Durham Bulls, The American Tobacco Historic District and Rocky Mount Mills. PBS is a highly successful, growing company with a great reputation for customer service and community involvement. That's exactly the type of operation we want as part of CBC."
PBS serves single-family and multifamily residential builders across the Carolinas. It was founded in 2003 and currently employs 285 associates, with operations in Morrisville, Wake Forest, Charlotte, Wilmington and Charleston.
"When we embarked upon the process of identifying a partner that would allow us to accomplish several objectives, including providing a well-deserved exit for our non-employee minority investors, allowing the three employee investors to diversify our net worth, ensuring a stable future for our associates and positioning the company for additional growth, we could not have written a better script," said PBS CEO Van Isley. "We are extremely excited about partnering with the CBC team and the Goodmon family, whom we have known and respected for many years."
New Orgill DC is open for business
Orgill's new Post Falls, Idaho, distribution center is now fully operational, and it's already begun serving retailers in five Northwestern states, as well as Western Canada.
Orgill first announced the acquisition of the Post Falls distribution center in August 2016, and it began retrofitting the facility shortly thereafter in order to provide faster and more efficient service to its growing customer base in the region.
“We are very happy to announce that this facility is now up and running and represents a significant enhancement to our distribution network. We look forward to the efficiencies this new distribution center will offer our customers throughout the coverage area,” said Ron Beal, Orgill chairman, president and CEO.
“We will be using our own fleet of trucks and drivers to deliver the majority of shipments out of Post Falls,” says Randy Williams, Orgill’s general manager of distribution. “This is important because it means customers will be able to rely on regular shipments from a driver who is familiar with their business and runs on a consistent, reliable pre-scheduled delivery route.”
The new DC will primarily serve customers in Montana, Idaho, Oregon, Washington and Alaska, as well as customers in Western Canada. Previously, customers within this area had been served out of other Orgill distribution facilities.
Additionally, the new DC has already been recognized for job creation and positive community impact with an award from the Trade & Industry Development 12th Annual Corporate Investment and Community Impact (CiCi) Awards. The Post Falls Orgill project was one of 15 to receive the Community Impact award nationally.
The new facility is Orgill's seventh distribution center overall, including sites in Tifton, Ga.; Inwood, W.Va.; Sikeston, Mo.; Hurricane, Utah; Kilgore, Texas; and London, Ontario.
Here are the latest J.D. Power winners
J.D. Power has released its customer satisfaction rankings once more, and it has a short list of home improvement winners.
The category as a whole has seen movement in customer satisfaction. According to the J.D. Power 2017 Home Improvement Retailer Satisfaction Study, overall customer satisfaction increased to 816, up from 795 in 2016 (on a 1,000-point scale).
“Even in a large market like home improvement, it’s the attention to detail that can affect customer satisfaction,” said Greg Truex, senior director of the at-home practice at J.D. Power. “Home improvement retailers understand that customers with higher levels of satisfaction are more likely to repurchase and more likely to recommend to their friends and family.”
And for the 11th consecutive year, Ace Hardware took home 1st place in the category, with a score of 835.
Menards came in close second at 824, and Lowe's was in third at 817.
"We are truly honored and humbled to receive this prestigious award for the eleventh consecutive year," said John Venhuizen, President and CEO, Ace Hardware Corporation. "We could have never done it without the loyalty of our neighbors, the entrepreneurialism of our local owners and servant hearts of the 100,000 red-vested heroes upon whose back these awards stand."
The rankings were determined by a number of factors, most notably: number of times received sale/promotional flyers/brochures (received more than once in past 12 months); quality of merchandise (above expected); and length of time waited for greeting (waited less than 5 minutes).
The study is based on responses from 2,751 customers who purchased home improvement-related products from a home improvement retailer within the previous 12 months, and was fielded in February-March 2017.