ProBuild acquires Jasper Lumber
ProBuild Holdings has finalized its acquisition of Jasper Lumber, a North Atlanta-based lumber, truss and millwork business. Terms of the deal were not disclosed
The purchase includes Jasper Lumber’s Cumming, Ga.-based lumber distribution business and its Kennesaw, Ga.-based lumberyard, truss and millwork manufacturing facility.
“Jasper Lumber is an outstanding, well-run operation,” said Jim Cavanaugh, ProBuild South region president, in a statement. “This acquisition, along with the previously announced acquisition of HD Supply’s LBM operation, positions us well to serve all segments of the Atlanta market.”
Jasper Lumber was founded in 1947 in Jasper, Ga., and it relocated in 1963 to the suburbs of Atlanta. It has been operated by second- and third-generation owners Bill Adams and his son, Keith.
ProBuild Holdings is one of the nation’s largest supplier of building materials to professional contractors, with more than 520 lumber and building product distribution, manufacturing and assembly centers in 41 states.
Lennox reports ‘solid’ fourth quarter
Global HVAC manufacturer Lennox International reported what it called a “solid” fourth quarter, with earnings down slightly to $38.8 million from $41.1 million in the same period last year, a 5.5 percent drop. Sales were up 1 percent to $887 million from $873.7 million in the same period last year.
For the full year, earnings were $169 million, up 1.8 percent from $166 million in 2006. Sales totaled $3.75 billion, up 1 percent over the prior year’s total of $3.71 billion, with foreign exchange contributing 2 percent to growth, the company said.
“Lennox International had a solid fourth quarter and strong results for the year,” said Todd Bluedorn, CEO of Lennox International. “Three of our four businesses — Commercial, Service Experts and Refrigeration — had outstanding performance, with profit growth in the double digits and margin expansion.”
Those areas of growth offset a “tough market” in residential sales, a segment in which the company took “aggressive cost reduction actions” this year, Bluedorn said.
The HVAC giant reaffirmed its 2008 outlook, with revenue growth expected at 2 percent to 5 percent.
Menards eyes Austin, Minn., site
Eau Claire, Wis.-based Menards has proposed a new store in Austin, Minn., a south central Minnesota city close to the Iowa border, according to a report in the Austin Post-Bulletin.
The retailer has proposed a 162,000-square-foot store on a 78-acre site, which includes space for other commercial developments and multi-family homes, according to the report.
It’s unclear when construction could begin on the project, from summer 2008 to spring 2009.
The site is near a Target store, and a nearby site includes a Wal-Mart Supercenter currently under construction. The Menards store is expected to employ 150 to 200 people.