Just over halfway through this year, the construction supply community has seen pretty much the same number of deals and greenfield openings as it did in the opening six months of 2022, with two big deals sharing the spotlight.
Through July 12, we've seen 236 LBM facilities involved in 64 transactions versus 257 locations in 84 deals by this point in 2022. There also have been at least 118 greenfield openings by this date compared with 114 at the same time last year. Plans are under way for at least 34 more openings between now and December.
This year's deals have averaged 3.7 locations per transaction, up from the 3.1 average for 1H22 acquisitions. But two deals account for roughly one-third of all the purchases this year: The first was US LBM's sale of 46 drywall specialty yards to ABC Supply's L&W Supply division. The second was Foundation Building Materials' acquisition of 32 Marjam Supply locations.
The busiest dealmaker was SiteOne Landscape Supply. Its five deals landed it 17 locations.
Beacon ranked among the busiest companies on two fronts. It made four purchases that brought it 12 locations, and simultaneously opened 14 new locations.
Nation's Best Holdings did three deals for five locations. L&W also figured in three purchases--aside from the US LBM purchase, it picked up three more yards in a pair of transactions.
SRS Distribution opened 16 new locations, ABC Supply 14, and Floor & Decor 12.
Among notable actions in recent weeks:
* Beacon purchased Crossroads Roofing Supply, which has five branches in Oklahoma.
* Nation's Best Holdings bought B&S Hardware & Lumber, with branches in Gilmer and Pittsburg, TX.
* Red River Lumber expanded to Idabel, OK.
* SRS took over Washoe Building Supply of Sparks, NV.
* Louisville Tile bought American Olean Midwest's six facilities in Indiana, Illinois, Wisconsin, Minnesota, and Iowa.
* Studs Lumber opened a new branch in Pagosa Springs, CO.
* Ambassador Supply acquired Straight Line Metal Buildings of Brookshire, TX.
Comments