2019's Pace of Deals, Openings, Closures Rivals 2018's Torrid Rate
Updated: Jun 24, 2019
Like two middle-distance runners constantly passing and re-passing each other, 2019's LBM deals, opening, and closures activity remains ahead of what happened in 2018 through June 18, but that could change soon.
So far this year, there have been a total of 91 locations that changed hands, 42 that opened, and 28 that have closed. That 161 total trumps the 145 actions that had occurred by June 18, 2018. But the second half of June 2018 saw a surge of deals, including Hammond Lumber's acquisition of the 10-unit EBS Building Supplies.
By the end of June 2018, there were 170 actions on the books. Mid-year typically is a time when lots of deals close, so it will be interesting to see what transpires in 2019. In the meantime, here are some of the most significant actions that have taken place since we last reported in mid-May:
* Gulfeagle Supply bought Square Deal Supply, a four-unit operation based in Michigan.
* Parr Lumber bought two truss plants located in Vancouver and Sunnywide, WA..
* GMS bought the three Hart Acoustical and Drywall specialty stores owned by J.P. Hart. All are located in Texas.
* Building Industry Partners' Homewood Holdings unit moved into the Phoenix area by acquiring a pair of millwork operations: The Door Mill and Valley View Windows and Doors.
* Busy Beaver bought 3 Sons Hardware in Minerva, OH, and opened a new store in East Liverpool, OH.
* Chinook Lumber opened a new yard in North Bend, WA. (Pictured at right)
* Griffin (Ga.) Lumber, which bought an in-town rival yard and truss plant earlier this year, acquired Dodd Builders Supply of Forsyth, GA.
* Higginbotham Bros. bought Cade's Building Materials of Mineola, TX.
* Twenty-eight of the 41 stores that opened this year have been roofing specialists. That total includes recent openings by ABC Supply in East Orange, NJ, and Ypsilinti, MI; and US LBM's Coastal Roofing Supply in Panama City, FL. Also, SRS Distribution bought Presta Contractor Supply of Erie, PA.
* Other greenfield store openings included Contract Lumber in Clinton, SC; Cassity Jones Building Materials in Bossier City, LA; Builders FirstSource in Greenville, WI; and National Lumber in East Hartford, CT.
* We learned of these closures: Hibbert Lumber in Davis, CA; Meek's Lumber (part of American Construction Source) in Bourbon, MO; Mickelsen's Home Center in Rexburg, ID; and McCoy's Building Supply in Lawton, OK.
* A pair of entrepreneurs bought Western Building Supply, Ewing, VA.
* Barnes Hardware in Falmouth, Ky., was purchased in late May and renamed Heilman Hardware, Lumber, and Farm Supply.