ProBuild acquires Centex distribution arm
ProBuild Holdings, the industry’s largest chain of lumberyards, has purchased the assets of CTX Builders Supply, a division of Centex Homes that distributes building materials and manufactures trusses and wall panels. Terms of the deal were not disclosed.
The deal will plant a ProBuild flag in the Phoenix market, where the Denver-based pro dealer has yet to establish itself. Five other facilities, consisting of component plants and distribution yards, will also join ProBuild’s various divisions. They are located in Albemarle, N.C.; Plant City, Fla.; Buda, Texas; Carrollton, Texas; and Visalia, Calif.
“These locations will enable us to continue to serve Centex Homes’ operations, as well as expand sales to additional customers in these markets,” said Bill Myrick, ProBuild’s chief operating officer. Centex, one of ProBuild’s largest customers, named ProBuild as its “Vendor of the Year” in 2007.
The Dallas-based builder originally established CTX Builders Supply as a way of leveraging its scale and driving down costs by supplying its own construction projects. The division was able to buy directly from manufacturers and then repackage the building materials for delivery to job sites.
ProBuild now operates more than 550 locations in 42 states.
Thriftway files for Chapter 11
Thriftway, a one-unit lumberyard based in Owensboro, Ky., has filed for Chapter 11 bankruptcy protection, according to an article in the Messenger Inquirer. The owner of the 45-year-old business blamed the homebuilding slump for recent financial troubles.
“Building materials dealers are not in favor with lenders at this time,” said Ken Lawson, Thriftway’s president. “Our business is good, and the Owensboro economy is good, too — much better than the national economy.”
“We’ve provided service for 45 years and will continue to provide service,” Lawson continued. “Our people and inventories are still here, and our customers will see no interruption of service. It’s just paperwork.”
According to its web site, Thriftway also operates an affiliate, Wholesale Doors & Trim and Installation, and HardwareOvernight.com, an Internet business.