One-on-One with an M&A expert
HBSDealer's One-on-One video series interviewed Jim Hooper, senior vice president of mergers and acquisitions for US LBM, the fast-growing LBM industry player.
In the video above, Hooper addresses a number of issues making headlines in the LBM industry:
On the acquisition of Foxworth-Galbraith, and its 40 Southwest locations.
“It was a team effort across our organization. An acquisition of this size doesn't come together in a matter of weeks or months. We’ve been working on this one through relationships for many years, and the stars aligned for both parties. … They have a great team, they have a great history, over 120 years, and we look forward to ushering them into a new phase of growth.”
On looking at the map with a view toward acquisitions:
“We have never been a company that goes to market and attacks it just for the sake of getting into a specific MSA. What we really focus on is partnering with the best companies and the best teams that we feel are going to fit our culture. That being said, it’s important that we address where a lot of the growth is happening in the country.”
On the impact of inflation and wildly fluctuating prices on investment strategy:
“When you’re trying to figure out what a business’ revenues and earnings would be in a normalized business environment, it gets very challenging. So it has definitely made us hone in on our modeling skills. At the same time, we don't make our investment decisions based on short-term headwinds or tailwinds.”
Watch the full interview by clicking on the image above.