Pro-Build purchases Tennessee dealer
Pro-Build Holdings strengthened its presence in the Nashville, Tenn., market with the purchase of Crosslin Supply, a pro dealer with three lumberyards in central Tennessee. The purchase price was not disclosed.
Headquartered outside of Nashville in Smyrna, Crosslin also has locations in Franklin and Spring Hill, Tenn. Sales in 2005, the latest figures available, were $49.2 million. The company is affiliated with Lumbermens Merchandising Corp. (LMC).
Robertson & Foley acted as the financial advisor to Crosslin Supply in the transaction.
Eddie Crosslin and Greg Davis will remain in general management roles, responsible for the Smyrna and Franklin operations, respectively, according to Pro-Build. “The team at Crosslin Supply will be a great addition to our existing team in the Nashville area,” said Buddy Ables, president of Pro-Build’s East Region, in a prepared statement.
Pro-Build, owned by Fidelity Capital, has operations in Tennessee through the Strober Organization, which was purchased by Fidelity in 1997. Pro- Build is the nation’s largest pro dealer, with more than 500 locations in 40 states.
True Value owner inducted into Washington D.C. ‘Hall of Fame’
Howard Politzer, owner of Brookland True Value in Washington D.C., has received the Business Legacy Award from the Washington D.C. Hall of Fame Society, a group that recognizes members of the city’s business community.
The legacy award recognizes individuals and establishments that have contributed immensely to the growth and development of Washington, D.C. and changed the course of the District’s history. Hall of Fame Society executive board members voted unanimously to make Brookland True Value its first choice in the nbusinessi category, and Politzer was inducted into its Hall of Fame.
Politzer opened his first True Value in 1975 on Capitol Hill, and in 1981 he relocated the store six miles north to the city of Brookland.
Politzer has served as a member of the Brookland Chamber of Commerce, the Center for Community Development, the MayorIs Golden Washington Club, the Brookland Business and Professional Association and the Pennsylvania and Atlantic Seaboard Hardware Association.
Acquisition of Rinker nears completion
Rinker Materials, a top distributor of non-lumber building materials in the United States, with $4.5 billion in sales last year, will soon become part of Cemex, North America’s largest cement producer.
Cemex has purchased more than 90 percent of the shares of Rinker Group Ltd., Rinker’s Australian parent company, clearing the way for the cement supplier to acquire the rest of the company without consent.
Cemex, based in Monterrey, Mexico, placed an unsolicited $14 billion bid for all of Rinker’s shares earlier this year. In June it won majority control over Rinker’s board of directors and replaced them with its own appointees. The Rinker acquisition will further increase Cemex’s share of the U.S. concrete market.
Headquartered in West Palm Beach, Fla., Rinker Materials sells cement, asphalt, pipe, tools, drywall, steel framing and other construction materials. It generates approximately 80 percent of its parent company’s revenues.