Content about Private

April 4, 2014

The U.S. economy added 192,000 jobs in March, which wasn't enough to offset last month's 6.7% unemployment rate. However, at an upwardly revised figure of 197,000, February pulled in more jobs than initially estimated.

According to Bloomberg, March's figure has pushed private employment past the pre-recession peak for the first time.

March 21, 2014

RGS Energy, a Louisville, Colo.-based manufacturer of solar energy products, has named Dennis Lacey SVP finance.

In his new role, Lacey will be responsible for implementing and managing the company's residential lease financing program. 

March 13, 2014

General Tools & Instruments, a Manhattan-based tool manufacturer with a storied history, has been acquired by private equity firm High Road Capital Partners.

Founded in 1922, General Tools & Instruments is a designer and developer of precision specialty hand tools and handheld test instruments for consumers and professionals.

February 11, 2014

Christopher Durham has been named VP retail brands at Theory House, a Charlotte, N.C.-based marketing agency that has worked with major home improvement brands, such as Lowe's, WW Grainger, Husqvarna and Gunk.

January 22, 2014

In a joint venture with private equity firm GTIS Partners, Toll Brothers has announced its plans to acquire Sienna South, the last major undeveloped parcel of Houston master-planned community Sienna Plantation.

January 20, 2014

Central Garden & Pet Company has made a couple executive appointments. Effective immediately, J.D. Walker has been tapped to lead the Garden segment, with Dan Pennington leading the wild bird and private label business. Both will report to EVP Michael Reed.

October 30, 2013

The Home Depot house brand has a new look, and according to the company, some new quality control.

Jim Recore, divisional merchandise manager for private brands at The Home Depot describes the Husky brand as one of about four that are “absolutely key to the success of our private label program.” 

Home Depot changed the color emphasis -- from red to black -- and also some improvements to the grips and handles and overall design of the tools.

October 21, 2013

A group of private investors in New York has gone in on a majority interest in Fort Myers-based agribusiness Alico Inc., one of the largest private landowners in Florida.

The all-cash $138 million deal involves 50.5% of Alico's outstanding voting stock, purchased by 734 Agriculture, a private investment company owned by Remy Trafelet and George Brokaw, in partnership with Arlon Group, a global food and agriculture investment firm.

The majority stake will be valued at $37 per share and is due to close in the next 30 to 45 days.

October 7, 2013

Oak Brook, Ill.-based Ace Hardware has retooled the packaging for its builders hardware department.

According to Cynthia Brasic, Ace brand manager, the new color-coded labels help make the selection process easier for the consumer. It’s the first packaging makeover in the co-op’s builders hardware aisle in about 20 years, she said.

September 27, 2013

Boise, Idaho-based BMC announced the closing of its $250 million aggregate principal amount private offering of Senior Secured Notes due 2018.

BMC used the net proceeds of the Senior Secured Notes offering to refinance its term loan, pay down its asset-based lending revolver, and pay related fees and expenses. BMC intends to use the remainder of the net proceeds for general corporate purposes. 

September 18, 2013

Short of disclosing further details regarding the transaction, private equity fund Generation Growth Capital, Inc. has announced the sale of Martell Construction, Inc.

“We are very pleased with our investment in Martell and wish the ownership group continued success in taking the company to the next level,” said Cory Nettles, managing director of GGC.

September 12, 2013

Atlanta-based Newell Rubbermaid announced it has closed the sale of its Hardware business, which includes the Amerock, Ashland, Bulldog and Shur-Line brands, to Nova Capital, a specialist acquirer of corporate and private equity portfolios. 

The transaction was first announced Aug. 9.

September 10, 2013

Orlando, Fla. -- First came a roll out of Clark & Kensington private label paint. Next came a blockbuster deal with Valspar. And now comes the introduction and unveiling of the Paint Studio, the new brand for Ace Hardware’s self-described “Paint Reinvention” program.

It’s all part of Ace Hardware’s efforts to get relevant and make noise in the retail paint arena, said John Surane, senior VP merchandising, marketing and sales.

August 27, 2013

The latest Fitch Ratings report sees a pick-up for the non-residential construction sector, beginning this year but accelerating in 2014.

Fitch expects private non-residential construction to grow 2% in 2013 and 5% in 2014 thanks to increased lending and CMBS issuance. Meanwhile, public construction spending is predicted to remain largely stable this year and grow 3% in 2014.

August 24, 2013

Boston -- Orgill's Jim Wilson, VP of Worldwide Sourcing for the Memphis-based distributor, is philosophical about the role of house brands like MintCraft, Tool Basix and Vulcan.

"We're doing this because it adds value and our customers tell us it's a good thing to do," he told HCN during on the market floor of Orgill's Boston Dealer Market here. "If this was no longer a value, we would exit these categories and lines, but I don't see that happening  here or anywhere else in the retail environment."

August 19, 2013

San Antonio -- Handy Hardware Wholesale has returned to normalcy -- or pretty close -- after a post-bankruptcy transition from a hardware co-operative to a for-profit wholesale distributor. 

August 16, 2013

Having a social media policy -- and training employees to follow it -- are critical practices for every organization. Even if your company is not using social media, you still need a policy because your employees are using it in their private lives and they need guidelines to protect your interests and your organization’s reputation.

Before creating a social media policy, employers should decide what they want to get out of social media, advises Eric Meyer, a partner in the labor employment law group of Dilworth Paxson LLP.

August 14, 2013

Paint giant Valspar has every intention of profiting from its move to acquire the Ace Hardware private-label paint business, it just hasn't happened yet.

Valspar executives walked analysts through the plan during the company's third-quarter conference call. The analysts seemed highly interested in Valspar's seven-month-old relationship with Ace. 

August 13, 2013

With its recent Longview Timber acquisition under its belt, Weyerhaeuser Company has positioned itself as one of North America's leading private sustainable forestry operations.

The company, which recently added 645,000 acres of forestland to its portfolio in Washington and Oregon, now manages 20.5 million acres of forestland in the U.S. and Canada that's been certified to the Sustainable Forestry Initiative standard.

August 9, 2013

Newell Rubbermaid, Inc. is selling its Hardware business to Nova Capital, a firm that specializes in the acquisition of corporate and private equity portfolios, for $214 million.

Specifically, components of the sale include Newell's Amerock, Ashland, Drapery Hardware, Bulldog and Shur-Line brands. Sales for 2013 came in at $255 million so far, with gross proceeds resting at $214 million.

July 22, 2013

Ryland Homes announced Friday that it has gone forward with the acquisition of Cornell Homes, marking a strategic move into the tri-state market for the homebuilder.

Cornell Homes is one of Philadelphia's largest private homebuilders and currently operates in 12 communities. The acquisition will provide Ryland with 97 homes that are sold and ready for delivery, eight decorated models and 1,716 lots for future projects.

July 18, 2013

BidClerk Construction Index has released its second-quarter results, which highlighted dramatic increases in year-over-year construction activity in the Atlanta, D.C., and New York metro regions.

July 16, 2013

In a move to focus on its core businesses, Atlanta-based Newell Rubbermaid sold its Teach platform, including the Mimio and Headsprout interactive teaching technology brands, to Skyview Capital, a Beverly Hills, Calif., private equity firm.

June 21, 2013

Distributors and manufacturers convened at this year's Group Merchandising Conference, held June 17-19 at the Embassy Suites Atlanta/Centennial Olympic Park.

With attendance hovering around 150, PRO Group and Val-Test distributors met with manufacturers during 962 private 30-minute appointments aimed at strengthening relationships and previewing new products.

According to Steve Synnott, CEO and owner of PRO Group, one-third of manufacturers at the conference were first-time attendees, a promising sign for sales and two-step distribution.