PPG acquires Masterwork Paint Company
Continuing its trajectory of recent expansion, PPG Industries announced that its North American architectural coatings business has acquired Pittsburgh-based Masterwork Paint Company.
Masterwork is an independent architectural paint distributor with 13 stores throughout Western Pennsylvania, Ohio and New York.
PPG also recently made headlines after it agreed to acquire Mexico City-based Consorcio Comex, which Sherwin-Williams had been trying to acquire for months but ultimately gave up after significant regulatory delays.
It also made a bid on Homax Group about a month ago, a supplier of decorative wall and ceiling texture repair products.
The specific financial terms of the transaction were not disclosed.
Stock names new executive VP
Stock Building Supply, operator of 69 building supply outlets, announced the appointment of Bryan J. Yeazel as executive VP and chief operating officer.
In this role, Yeazel will lead the company’s regional operating businesses and integrated supply chain, including sourcing, procurement, product management, fleet, logistics and safety.
In announcing this role, Jeff Rea, president and CEO, stated, "Our company has many exciting growth opportunities, and this position provides our operating teams additional leadership and the support needed to further enhance our customer service capabilities both locally and across our extensive supply chain network. Bryan has been an influential executive leader with Stock for nearly 10 years and, in this new role, will provide focused growth leadership in support of our local operations and the numerous customers we serve daily."
In connection with this appointment, C. Lowell Ball has been appointed senior VP and general counsel, where he will lead the company’s legal and risk management teams. "Lowell has been a strong leader for Stock since joining our company and has provided our local businesses with outstanding counsel and support." Rea added, "I look forward to working with both Bryan and Lowell in their new roles to accelerate our growth strategy."
Yeazel has been an executive officer of the company since 2005, having served most recently as the executive VP, chief administrative officer and general counsel, where he had responsibility for the company’s legal, integrated supply chain, human resources and safety functions. Yeazel received his undergraduate degree from Wake Forest University and his juris doctor from the University of Notre Dame Law School.
Ball has been a legal officer of the company since 2010, serving most recently as VP and deputy general counsel, and prior to that held senior legal positions at other corporations and in private law practice. Ball received his undergraduate degree and juris doctor from the University of North Carolina – Chapel Hill.
Stock Building Supply operates in 21 metropolitan areas in 14 states, primarily in the South and West regions of the United States.
ABC Supply Co. bestows award on Frank Novascone
ABC Supply Co. has honored Frank Novascone III, managing partner at the distributor’s Whicita, Kansas branch, with a Ken Hendricks Award.
The Ken Hendricks Award recognizes ABC Supply employees who embody the values put forth by late founder Ken Hendricks together with co-founder and wife Diane Hendricks.
According to the company, Novascone knew he wanted to run his grandfather’s roofing supply store from the time he was a child. In 2002, he stepped into those shoes when ABC Supply (which had purchased the business in 1997) made him an offer he couldn’t refuse.
“Frank Novascone embodies the spirit that the Ken Hendricks Award is intended to recognize,” said ABC Supply president and CEO Keith Rozolis. “In his business life and in his personal life, Frank demonstrates character that is true to the values that our company was founded on and that continue to serve as our guiding principles.
Novascone accepted the award during the company’s annual Founders’ Celebration at the National Support Center headquarters in Beloit, Wisconsin on June 19.
“Frank is one of the best managers in the company,” added Mike Gipson, manager of ABC Supply’s Kansas/Oklahoma District. “He has made every branch he has managed successful. Frank runs his branch with integrity; he exemplifies entrepreneurship and what it means to be a great manager.”