Report: HD Supply prepares for IPO
Reuters is reporting that industrial distribution giant HD Supply is preparing for an initial public offering.
The San Diego-based industrial distribution company split from Home Depot about six years ago when private equity firms paid $8.5 billion for the company. Atlanta-based Home Depot kept a 12.5% stake in HD Supply.
The same private equity investors — Bain Capital, Carlyle Group and Clayton, Dubilier & Rice — are at work selecting underwriters for the IPO deal, according to the report.
HD Supply had $7 billion in revenues in 2012.
On its website, HD Supply describes itself as a "supplier of maintenance, repair and operations (MRO) products to owners and managers of multifamily, hospitality, educational and commercial properties; healthcare providers; and municipal and government facilities. We also are experts in interior upgrade and renovation projects."
LP SolidStart gains footing in Scotland
MBM Forest Products has announced that it now stocks LP SolidStart LSL Rim Board out of its Denny, Stirlingshire, location in Scotland.
The added product availability will allow MBM to service customers in Scotland and other key areas, with a 24-hour delivery.
“One of the biggest benefits of the LSL rim board is the cost competitiveness,” said Andrew Caldwell, product manager for MBM. “The 29 mm LSL Rim Board uses 10% to 35% less m3 than traditional 32 mm or 45 mm alternatives, offering savings to timber frame manufacturers. Plus the lighter weight helps with faster installation.”
LP SolidStart Rim Board is designed for supporting vertical and lateral loads as a part of the overall framing system, providing consistency, strength and dimensional stability. LP SolidStart products are created primarily from smaller, fast-growing trees. They are Chain of Custody certified by both PEFC and SFI.
“MBM Forest Products is dedicated to providing our customers with the best products and a fast, efficient delivery service,” said Caldwell. “For the past two years, we’ve stocked SolidStart Rim Board solely in Tilbury. We’re seeing increasing demand for the product in Scotland. The added product availability will allow us to provide better service for customers throughout Scotland and Northern England.”
In Rhode Island, yard closes suddenly
Wickford Lumber closed its doors "abruptly," according to local media reports in North Kingston, R.I.
Monday was the True Value-affiliate store’s last day of business, and it closed without notice, according to the NorthEast Independent newspaper.
The Wickford Lumber website describes the business as "the place to come when you are looking for first-quality products, reasonable pricing and plenty of service."