LBM Advantage merger moves ahead
Shareholders of lumber and building material buying cooperatives LBM Advantage and Independent Builders Supply Association (IBSA) completed their vote Wednesday in favor of a plan to merge.
Support was "overwhelming," according to the announcement.
“It is exciting to move this strategic merger forward," said Steve Sallah, president and CEO of LBM Advantage, the buying group that was created with the merger of ENAP and PAL. "The shareholders have voted and confirmed their support to merge the membership and capabilities of these two great cooperatives. The increased breadth, the quality of our combined memberships and the regional diversification this merger offers will provide a greater value to our member-dealers today and into the future.”
IBSA’s President Tim Johnson agreed, “The merger is a great fit and will improve the competitive position for all of our dealers. Our regions complement each other and provide the ability to execute National Buying Power while maintaining regional skills and market expertise.”
A target date of fourth quarter 2017 will complete the merger. The combined membership will span 34 states with 585 members and over one thousand lumber yards for a unified purpose: to provide a competitive advantage for members by leveraging their collective power.
LBM Advantage Chairman John Callahan of Long Island, NY-based Riverhead Building Supply offered his support, “We saw the synergy of our 2016 merger which brought our regional dealers together, and now, by adding a strong Southeastern-based cooperative, both organizations will gain access to new products and markets.”
IBSA Chairman Kent Berrier of Winston-Salem, NC-based Tuttle Lumber noted both groups are financially successful. He added, “By combining our resources we’ll have an opportunity to provide more value-added services and shared resources, including new technology. As consumers become more digitally sophisticated, this will be imperative for our members.”
“LBM Advantage’s continued expansion is the result of our strength in lumber & building materials, while allowing dealers to work with other hardlines groups and distributors regardless of affiliation,” notes Paul Dean, Advantage’s executive vice president of sales and marketing.
Sallah will remain president and CEO of LBM Advantage. IBSA President Tim Johnson will be a vice president managing his current staff and membership base, and together with Bob Carson, VP of Advantage will oversee the growth and expansion of LBM Advantage in the Southern and Southwestern regions.
LBM Advantage will operate from four locations in New Windsor, N.Y., Grand Rapids, Mich., Smithfield, N.C. and Monroe, La.
Do it Best meeting planner honored
Do it Best Corp.'s Meeting and Market Planning Manager Vince Slack earned a top honor from the Indiana chapter of the Meeting Professionals International. He was named Meeting Planner of the Year.
“It is an incredible honor to be recognized by my industry peers and people I so greatly respect,” said Slack. “MPI has been an invaluable resource to me over the past several years, helping me become a better planner on behalf of our employees, our vendors and, most importantly, our Do it Best member-owners. This award is definitely a reflection of the amazingly talented and dedicated team we have at Do it Best Corp. who all work together to plan and execute numerous exceptional meetings and events throughout the year.”
Slack is an 11-year veteran of Do it Best Corp. and has served as meeting and market planning manager since 2012. Slack oversees the planning, logistics and execution of numerous Do it Best Corp. events throughout the year, including the co-op’s spring and fall markets, which have been held in Indianapolis for more than 40 consecutive years and draw thousands of independent home improvement business owners and vendors from across the globe.
HDW is holding its Spring Market in Texas
Hardware Distribution Warehouses, Inc. has bigger plans than usual for its next Spring Market.
Thanks to its recent acquisition of Handy Hardware (and boosted attendance at its most recent market), the company had to look for a larger space.
This means that for the first time in company history, the 2018 Spring Market will be held in Texas.
“As a result of our acquisition of Handy Hardware and the tremendous attendance at our recent Spring Market we found it necessary to locate in a larger venue for an expanded show and to a larger city for access to more hotel rooms," said president and CEO Kenny Beauvais.
"We are excited to announce that we have booked the Kay Bailey Hutchison Dallas Convention Center, located in downtown Dallas," he added. "The event will run January 19th – 21st in Dallas, Texas."
HDW’s 2017 Fall Market is scheduled to take place September 8-10th at the Shreveport Convention Center in Shreveport, LA.