The Deals of August
A magnetic-like force is at work in the hardware and building supply industry, attracting acquisition-oriented companies to M&A targets in core or ancillary fields. And the magnetism didn’t take a holiday in August. Here are some the deals that made waves or headlines recently.
In a statement that could apply to most if not all of August’s acquisitions, U.S. Lumber CEO Jeff McLendon said: “This acquisition advances our growth strategy by expanding our geographic presence and product mix, and adds an exciting new set of capabilities to our company.”
- Armstrong World Industries, Inc. has completed its acquisition of Steel Ceilings, Inc, of Johnstown, Ohio. This acquisition expands AWI’s presence in the architectural specialties segment.
- ABC Supply made its 5th acquisition since early June when it acquired Landis Supply of Vineland, N.J. ABC already operates 14 other locations in the Garden State.
- Installed Building Products (IBP) has closed 7 deals in the last year, its latest being Denver-based Cutting Edge Glass. The company said it continues to have a “robust pipeline of acquisition opportunities across multiple, geographies, products and end markets.“
- L&W Supply acquired 5-branch Rose & Walker Supply, based in Columbus, Ind.
- Gypsum Management & Supply Inc. acquired Charles G. Hardy of Paramount, Calif., bringing Tucker, Ga.-based GMS to the Los Angeles market.
- And most recently, Atlanta-based distributor U.S. Lumber acquired Alexandria Moulding, the Ontario, Canada-based distributor of a full range of mouldings.
In a statement that could apply to most if not all of August’s acquisitions, U.S. Lumber CEO Jeff McLendon said: “This acquisition advances our growth strategy by expanding our geographic presence and product mix, and adds an exciting new set of capabilities to our company.”