Cedar Creek makes Texas acquisition
Oklahoma City-based distributor Cedar Creek has entered into an agreement to purchase the assets of Capital Lumber’s distribution locations in Dallas and Houston.
In a deal expected to close Nov. 30, Capital Lumber will continue to operate eight other non-Texas distribution centers and focus on the western United States.
“This move helps us enhance our position in a state that we have served for years,” said Clark Wiens, Cedar Creek’s VP acquisitions. “Our customer base in Texas will benefit from this consolidation, as we broaden our product assortment and continue our consistent service in this key Cedar Creek market.”
Cedar Creek is a leading wholesale building material distribution company with 13 locations covering 20 states in the Mid-South, Midwest and Southeast.
In May 2010, Cedar Creek 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.
ENAP has eye on supply
One of the trends emerging from the ENAP Forest Products Conference, held Oct. 21-23 in Baltimore, was the increased emphasis on supply.
“This year’s conference exceeded everyone’s expectations,” said Duncan Facey, VP forest products for the New Windsor, N.Y.-based LBM co-op. “Those in attendance heard the message loud and clear: Supply is a very real concern across our industry as we head in 2013.”
Educational seminars during the event included:
• “Benchmarks & Measurements for the Successful LBM Dealer,” presented by Sandy Sawyer, Sawco;
• “APA, the Engineered Wood Association,” presented by Mark Halverson, Mgr. Field Service Division, APA;
• “How the 2012 Energy Code is Impacting Builders & Dealers,” presented by Kurt Koch, VP product engineering and quality, Huber Engineered Woods; and
• “A Two Year Outlook of the North American Forest Products Markets,” presented by Bob Berg, principal lumber economist, RISI.
“There were levels of optimism and enthusiasm among the attendees that the industry hasn’t seen in several years,” said Stephen Sallah, CEO, ENAP, New Windsor, N.Y.
Jack Moynihan of Moynihan Lumber said: “Whether it was the seminars attended or the contacts that were made or renewed on the floor, the 2012 Forest Conference proved to be a profitable time well spent for all attendees.”
Sherwood Lumber offers storm-related aid
Islandia, N.Y.-based Sherwood Lumber, an LBM distributor, says it is living up to its corporate motto, which reads: “We’ll Be There.”
In response to the damage caused by Hurricane Sandy’s path through the Northeast, the company said it will give $10,000 on behalf of its customers and employees to The Red Cross, Long Island Harvest and Habitat for Humanity.
“It is our responsibility to support those who have supported us for so many years,” the company said in an email to customers.
The company will also match all contributions to any of the same three charities.
“The devastation to the lives and property of many of our associates, customers and neighbors cannot be exaggerated,” the email reads. “Living up to our motto of ‘We’ll Be There’ is not just a corporate slogan but a standard that we live by each day.”
Early estimates of Sandy’s damage are at about $50 billion.