LBM's Late-2022 Acquisitions Stick to Year's Small-Deal Trend
The construction supply industry typically ends the year with a flurry of acquisitions, but barring a large number of major surprises, we'll end 2022 with roughly 20% fewer deals that involved 45% fewer facilities.
Through today, Webb Analytics' count shows 134 deals by 60 different buyers that landed them 397 facilities. That works out to 2.96 facilities per deal. In contrast, by this point in 2021 there had been 158 deals by 78 buyers that landed a total of 709 locations--an average of 4.48 facilities per deal. The final days of 2021 saw 10 more acquisitions for 14 facilities, cutting the year's average to 4.3 locations per deal.
Since mid-November, LBM has learned about these purchases:
Ring's End Lumber grew its paint business by buying Johnson Paint, whose website lists 10 stores Massachusetts, New Hampshire, and Maine.
Kodiak Building Partners continued growing in the Pacific Northwest by absorbing Diamond Home Improvement, which has facilities in Grants Pass and Klamath Falls, OR.
Nation's Best Holdings moved into Michigan's Upper Peninsula by acquiring Forslund Building Supply yards in Caspian, Norway, and Ironwood, MI.
Bliffert Lumber took over two Milwaukee-based institutions: Milwaukee Cabinetry on Nov. 15, and millwork manufacturer A. Fillinger Inc. on Dec. 12.
Outdoor Living Supply bought Tahoe Sand and Gravel of South Lake Tahoe, CA.
Meanwhile, Beacon Building Products has been busy adding greenfield locations. Since mid-November, it has opened shop in Rockford, IL; Brownsville, TX; and Georgetown, TX. Among roofing/exterior suppliers, US LBM's Universal Supply division opened in Whippany, NJ, while SRS Distribution's Superior Distribution moved into Columbia, SC. Another division of SRS, its Heritage Landscape Supply Group, announced that it opened a Stone Center of Texas outlet in Conroe, TX.
ABC Supply--another company that likes to open greenfield sites--announced a new roofing outlet in Havre de Grace, MD, while its L&W Supply siding specialty division moved into Queens, NY.
Elsewhere, Coltrain Hardware opened in Ayden, NC, while Butters' Ace Hardware opened in Thompson's Station, TN.