LUMBERYARDS

HD Supply promotes exec

BY HBSDEALER Staff

HD Supply Facilities Maintenance has named Robin Soehl as its VP strategy and channel development. In this newly created position, Soehl will develop and implement an institutional strategy and drive all aspects of selling to government entities. She will lead the Federal Government and State, Local and Education (SLED) national accounts and field sales teams, as well as oversee contract compliance. 

Soehl will continue to lead the company’s e-Business, business development and business integration teams. Soehl previously held the position of VP marketing and business development at HD Supply Facilities Maintenance.

Soehl joined HD Supply in 1996 as manager of database marketing. She has since held a number of key roles, including director of marketing, director of e-Business, VP business improvement and quality operations, VP marketing and corporate strategy, and VP marketing and merchandising. Some of her many accomplishments include establishing the company’s multichannel marketing approach, leading the company’s online strategy, successfully integrating acquired companies, creating the company’s customer research capability and optimizing productivity while always maintaining focus on the customer.

Based in San Diego, HD Supply Facilities Maintenance is a leading supplier of maintenance, repair and operations (MRO) products to owners and managers of multi-family, hospitality, educational and commercial properties; healthcare providers; and municipal and government facilities. The division of HD Supply has 36 distribution centers and a fleet of more than 600 delivery vehicles.

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Hovnanian, GTIS Partners announce home-building joint venture

BY HBSDEALER Staff

Hovnanian Enterprises and GTIS Partners have expanded their December 2010 joint venture with the acquisition of five additional home-building communities. The venture plans to design, sell, and deliver homes in the communities, which contain 745 lots across three communities in Northern Virginia, one community in Maryland and one community in Pennsylvania. 

The venture now owns 1,168 lots in eight communities — which includes the three properties acquired in December, two in California and one in Virginia — and expects its gross home sellout to exceed $500 million.

About $123 million of capital has been invested, with Hovnanian contributing 25% and GTIS Partners providing 75%. Hovnanian will manage the day-to-day operation, and if certain financial targets are met, Hovnanian will receive a promoted share of the cash returns from the venture.

 "Within the joint venture, and our earlier partnership with GTIS, we now expect to deliver more than 2,700 homes in 19 communities,” said Ara Hovnanian, chairman of the board of directors, president and CEO of Hovnanian Enterprises. “Our efforts to execute additional joint ventures with GTIS or with others do not end here, as we continue to seek opportunities to leverage our home-building expertise with financial partners’ desires to invest in for-sale residential communities."

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Building Industry Partners (BIP) forms new division

BY HBSDEALER Staff

Building Industry Partners (BIP), a private equity investment and mergers & acquisitions advisory firm specializing in the middle-market U.S. building industry, has announced the formation of its Debt Advisory & Placement Practice, which will leverage its relationships with the lender community to advise building products companies in restructuring and/or refinancing existing loans, as well as sourcing and optimizing terms on new senior, mezzanine and/or other debt capital.

BIP added this service to its existing advisory practice because of ongoing feedback from building products company owners in the current market environment regarding their desire to take proactive steps to counter pressure from existing lenders and/or seek out loan financing on better terms. The goal of BIP’s practice is to arm middle-market companies with the market knowledge and technical expertise necessary to effectively renegotiate and/or restructure existing bank or other loans and to proactively source alternative debt financing.

“Without the proper expertise, borrowers often enter into loan agreements, which over-collateralize the debt, charge excessive fees and institute covenants that are easy to default on in the current market environment,” said Jason Fraler, who will head BIP’s Debt Advisory & Placement Practice. “Bad loans can put your business at risk, restrict future growth and unnecessarily put a principal’s personal wealth at risk. The placement process needs to be thorough, tapping a large number of the right lenders to maximize options and drive more competitive terms/pricing.”

Headquartered in Dallas, BIP provides equity capital to private companies, primarily with $25 million to $500 million in sales, for purposes of growing their businesses organically or through buy-and-build acquisition strategies. BIP also provides equity capital to proven executives and management teams to support them in building their own business via management buyout or acquisition of platform businesses. The firm was instrumental in the formation of U.S. LBM Holdings, one of the industry’s fastest growing lumberyard chains. The firm’s principals include Matt Ogden, Lonnie Schield and Jason Fraler.

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