ProBuild completes purchase of HD Supply lumberyards
ProBuild Holdings has announced the completion of its purchase of HD Supply’s LBM assets, a collection of 39 lumberyards, seven truss plants, 10 engineered wood production facilities and a construction services division, all located in Florida and Georgia.
Terms of the sale, first reported by Home Channel News late in November, were not disclosed. The purchase follows other acquisitions in the Florida and Georgia markets by the Denver-base ProBuild, now the nation’s largest distributor of building materials to professional customers. In a prepared statement, CEO Paul Hylbert said the company will continue to pursue an aggressive strategy in the Southeast, which he described as a “long-term, high-growth housing market.” ProBuild now operates more than 520 locations in 40 states.
The remainder of HD Supply is still owned by three private equity groups, who bought the entire division from Home Depot on Aug. 23 for $8.5 billion. The LBM side of the business, now spun off to ProBuild, was built upon three major acquisitions: Williams Bros. Lumber outside Atlanta; Cox Lumber in St. Petersburg, Fla.; and Forest Products Building Materials in Sarasota, Fla.