Craig Cowart to lead Handy Hardware
Craig Cowart will succeed Doug Miller as president of Houston-based hardware distributor Handy Hardware, effective Oct. 1.
Cowart will lead Handy as it distances itself from its tumultuous recent period and builds on its “ProfitPlus” value proposition, the company said.
Handy Hardware emerged from a Chapter 11 filing in August 2013 after being purchased by Hardware Holdings, part of the Littlejohn & Company group. At that time, the company’s structure changed from a member-owned co-op to an independent wholesaler and distributor.
Miller came to Handy in July 2013 as interim CEO. He had been president at Spokane, Washington.-based Jensen Distribution. “With the progress we have made, it is appropriate for a new leader with a long-term vision to take over,” Miller said. “We couldn’t have found a more capable person than Craig Cowart to lead Handy going forward. His 23 years of retail experience has been invaluable in our turnaround, and his customer focus will benefit our dealers even more going forward.”
Cowart said: “I am so excited about the opportunity to lead Handy Hardware. I want our dealers and vendors to know that the entire Handy team is committed to creating a better partner than we have ever been, ready to aggressively meet the needs of the evolving retail market.”
Cowart has leadership experience at Lowe’s; Marvin’s Building Materials and Home Centers; and Your Other Warehouse, a distributor owned by The Home Depot.
“The new Handy is a better and more capable company, and our new ownership structure provides deeper financial resources and greater sourcing and merchandising options for our dealers,” said Cowart. “Ultimately, Handy’s success is tied directly to how we help our customers compete, and how Handy and Hardware Holdings helps make complex assortments simple.”
PulteGroup cuts a deal with Dominion Homes
PulteGroup, Inc. has acquired the real estate assets of Dublin, Ohio-based Dominion Homes, a homebuilder with a significant presence in the Ohio and Kentucky markets.
The deal involves an initial acquisition of about 6,500 lots, with 1,600 additional lots slated for purchase within the next 45 days upon completion of additional due diligence. These lots are spread throughout 27 open communities in Columbus, 11 in Louisville and three in Lexington. The specific financial terms of the transaction were not disclosed.
"In purchasing Dominion’s real estate portfolio, we acquired a number of well-located communities and immediately establish PulteGroup among the top builders in three new markets: Columbus, Louisville and Lexington, two of which are top 50 homebuilding markets in the US," said Richard J. Dugas, Jr., chairman, president and CEO of PulteGroup. "Dominion’s land pipeline expands our Midwest operations into three top metro markets, and gives us a great platform for further investment and growth."
Dugas added that Dominion CEO Keith Tomlinson — who is a former Pulte employee — will be working closely with Pulte’s executive management team to optimize the homebuying experience in these markets.
Dominion churned out about 850 homes in 2013, bringing in revenues of approximately $170 million.
CPBS introduces Composite Structural Insulated Sheathing
Composite Panel Building Systems (CPBS) has introduced Composite Structural Insulated Sheathing (C-SIS) to the market, a new eco-friendly fully composite sheathing for residential applications.
According to the company, C-SIS gets its energy-efficiency chops thanks to its fiberglass reinforced thermoset skin, which is bonded to the polyurethane foam insulation for added durability. The result is uninterrupted insulation, robust structural integrity, water-resistance and air-tight performance without the need for house wrap.
Additionally, the sheathing is made with 100% composite materials and is manufactured without adhesives.
C-SIS has earned both LEED points and green certification from the National Association of Home Builders (NAHB).