HDI acquires Mid-Am Building Supply for $270M
Hardwoods Distribution Inc. (HDI) stated that one of its wholly-owned subsidiaries has entered into an agreement to acquire practically all of Mid-Am Building Supply, Inc.’s assets and absorb certain working capital liabilities (Mid-Am).
Mid-Am, which was founded in 1967, has over 1,600 ship-to-customer locations and yearly revenues of more than $270 million.
Mid-364 Am’s workers will be given jobs at HDI, and Mid-management Am’s team will remain in place.
Mid-Am is a wholesale distributor of building goods to customers in the Midwest of the United States.
Mid-Am concentrates on housebuilder distribution yards (Pro Dealers), offering a variety of products and services such as doors, millwork, and other building materials.
Mid-Am adds to HDI’s existing network of 83 distribution centers a new local presence in the Midwest.
Mid-Am maintains five distribution centers with a total warehouse size of 650,000 square feet, serving ten states.
“With today’s announced addition of Mid-Am, plus the previous acquisition of Novo, we have achieved additional diversification for our business,” Rob Brown, HDI’s president, and CEO stated.
“Combined, we have acquired pro forma annual sales of $950 million in the Pro Dealer and home center customer channels in the last six months.”
“Looking ahead, approximately 60% of our sales mix will be focused on industrial customers, and 40% on Pro Dealer/home center.”
“This customer channel diversity, combined with our national footprint and balanced product portfolio, positions HDI as a one-stop solution for its customers.”
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