Jones Stephens expands West Coast distribution
Jones Stephens, a Hardware Holdings company, expanded its distribution capabilities to the West Coast through its new Valencia, California, distribution center.
The facility, which supports 5,000 of the most-frequently ordered Jones Stephens plumbing and MRO products, has been fulfilling orders since May. The investment is part of a new Jones Stephens "We Got It… West Coast" initiative.
"The addition of our Valencia distribution center allows us to better meet the needs of all our customers — especially our regional partners west of the Rockies — in a timely and cost-effective manner," said Michele Hudec, VP and GM of the Commercial and Industrial Division of Hardware Holdings. "It's all part of our value proposition — to minimize our customers' stock-outs and maximize their inventory efficiency. We want our regional partners to look to Jones Stephens as a national specialty plumbing and MRO products company offering the convenience and service level of a local supplier."
The new DC is located at 28624 Witherspoon Parkway. The company says its strategic location provides faster, more cost-effective replenishment of core products to customers in Washington, Oregon, California, Idaho, Nevada, Montana, Wyoming, Utah, Arizona, New Mexico, Hawaii and Alaska.
The Jones Stephens national distribution system also includes DCs in Moody, Alabama and Pottsville, Pennsylvania.
At House-Hasson, a major expansion
Independent regional hardware distributor House-Hasson Hardware acquired Long-Lewis Hardware Company of Birmingham, Alabama.
With the addition of Long-Lewis’s approximately $30 million in annual sales, House-Hasson’s annual revenues will be well above $200 million, and the company will add some 500 dealers to its existing customer base of 2,000 dealers.
Some 18,000 Long-Lewis inventory line items will be integrated into the House-Hasson system’s warehouse in Knoxville.
“Long-Lewis has a long and distinguished history of serving its hardware and lumberyard dealers,” said House-Hasson president Don Hasson. “This is a transaction that improves House-Hasson, and it enables Long-Lewis’s dealers and their customers to benefit from our technology and systems.”
Long-Lewis was founded in 1887 in Birmingham, originally under the name Bessemer Cornice Works, changing its name after buying Lewis Hardware, a competitor. House-Hasson was formed in 1906.
Long-Lewis is also Alabama’s oldest Ford dealership, and one of its largest, with locations throughout Alabama. This was a factor in the House-House acquisition of Long-Lewis, Hasson said.
“Long-Lewis is a large and impressive Ford dealership; hardware is not its principal focus,” he said. “To Long-Lewis’s credit, it recognized that to move forward it was necessary to either devote extensive resources to the hardware side or sell to a company that has hardware as its sole business and the technological and operational ability to keep dealers on the leading edge of the industry. Long-Lewis chose the latter, and we’re very pleased.”
Vaughn Burrell, owner of Long-Lewis Hardware, said House-Hasson is exactly what he was looking for in a company to acquire the hardware side of his business.
“House-Hasson is a tremendously respected name in this industry,” Burrell said. “It’s a family-owned company, and we’re a family-owned company. House-Hasson has remarkable history, talent, and systems that make sure dealers have what they need to be successful. Everyone benefits.”
“We’re particularly pleased that Long-Lewis’s 10 excellent salesmen and an exceptional sales manager are joining our team,” Hasson said. Total House-Hasson employees, at 400, are not changing appreciably in number.
Hasson said the makeup of Long-Lewis’s dealers is about 65 percent hardware stores and 35 percent lumberyards, “about the same as with our company.”
House-Hasson serves dealers in 17 states and the Caribbean Basin.
TopBuild begins trading on NYSE
TopBuild is making its debut on the New York Stock Exchange following its spinoff from parent company Masco.
As a separate company, TopBuild will both install and distribute insulation and other building products, holding the assets and operations of Masco's Installation and Other Services businesses.
“Last fall, we announced our plan to spin off TopBuild as part of our strategic initiatives to enhance shareholder value," said Masco president and CEO Keith Allman in a previous statement. "Under the leadership of Jerry Volas as its chief executive officer, I am confident that TopBuild is well positioned to operate as an independent public company. Following the spin-off, both TopBuild and Masco will have greater flexibility to focus on and pursue their respective growth strategies. For Masco, this is our ongoing commitment to create shareholder value by profitably growing in branded building products.”
TopBuild is now trading on the New York Stock Exchange under the symbol "BLD," effective July 1, 2015.