News

Readers Respond: Here Comes Santa Claus

BY HBSDealer Staff

Home improvement retailers all over the country have cleared out Halloween merchandise and are setting up displays of Christmas trees and holiday lawn ornaments, among other things. Lowe’s advanced Black Friday-like sales into the first of November. Of course, independents are getting in on the festivities, too.

For mass retailers, the name “Black Friday” is derived from the kind of sales that push the business into the black. Spring is the biggest selling season for home improvement, but home centers and hardware stores have shown increased sophistication when it comes to seasonal merchandising — especially Christmas season.

This week’s HBSDealer poll question asks: Compared to recent years, how would you describe your emphasis on Christmas and holiday sales this season?

With more than 80 votes rendered, here are the results:

• Same as always; 50%
• Increased emphasis; 29%
• Decreased emphasis; 21%

The poll question remains active on the right side of this page (or scroll down your mobile device). We invite your extended comments on holiday sales strategy and timing. Share with us here.

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Harvey Building Products makes a deal

Massachusetts-based company acquires Philadelphia-area manufacturer.

BY HBSDealer Staff

Waltham, Mass.-based Harvey Building Products acquired Northeast Building Products Corp., based in Philadelphia, Pa.

Founded in 1961, Harvey is a manufacturer of building products. It sells directly to contractors, builders, general contractors, and other building industry professionals. In addition to manufacturing vinyl windows and doors, they also distribute siding, roofing, decking, and trim. Northeast will join Soft-Lite, LLC, and Thermo-Tech Windows and Doors, LLC as part of the Harvey Building Products family of businesses.

“Northeast is a first-class organization and we are excited about their addition to the Harvey portfolio of companies,” says Jim Barreira, CEO of Harvey Building Products. “Alan and Fran Levin operate an efficient organization employing a talented management team, dedicated associates, and state-of-the-art equipment. NBP’s product lines and loyal customer base will further Harvey Building Products’ capabilities and commitment to serving the large dealer segment.”

Northeast Building Products is a family-owned company that produces a line of vinyl windows and patio doors, as well as entry doors. The company has three manufacturing facilities in the Greater Philadelphia area, and their windows and doors are sold in 14 states across the country.

“Our organization and customers will be energized by this transaction,” said Alan Levin, president and CEO of NBP. “This new affiliation with Harvey Building Products provides us with an even greater depth of knowledge and resources required to support the continued, fast growth of our company and our customer base.”

Harvey has about 1,800 employees and operates four manufacturing facilities, 36 distribution centers, and 13 product showrooms. The company also owns Soft-Lite, LLC in Streetsboro, Ohio and Thermo-Tech Windows and Doors, LLC in Sauk Rapids, Minn. Harvey Building Products is a portfolio company of Dunes Point Capital, LLC.

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Universal Forest Products enters new credit facility

New $375 million facility replaces a prior $295 million facility.

BY HBSDealer Staff

Universal Forest Products, Inc. (UFPI) has entered into a 5-year, $375 million unsecured revolving credit facility with a syndicate of U.S. and Canadian banks led by JPMorgan Chase Bank, N.A., as administrative agent and Wells Fargo Bank, N.A., as syndication agent.

The new agreement commenced at the start of November and replaces a prior $295 million unsecured revolving credit facility agreement with the same agents.

“Our finance team did an excellent job of working with the lenders to expand our credit facility,” said Matt Missad, CEO of UFPI.  “We believe it is advantageous to secure additional credit when it isn’t needed. This new arrangement provides us with the flexibility to invest in new products, automation, facilities, technology and targeted acquisitions while still maintaining a very strong balance sheet. It also reflects the confidence our lenders have in our business and the future of the company.”

Based in Grand Rapids, Mich., UFPI is a holding company whose subsidiaries supply wood, wood composite and other products to the retail, construction and industrial markets.

Last month, UFPI reported record third quarter sales and earnings.

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