As part of an overall drive to broaden their relationship with pro customers and better serve their needs, Lowe’s Companies has finalized the acquisition of Maintenance Supply Headquarters for $512 million. The Houston-based company is a distributor of maintenance, repair and operations (MRO) products serving the multifamily housing industry. The deal is a next logical step for Lowe’s, which acquired Central Wholesalers, an MRO distributor in the Mid-Atlantic and Northeast, in November 2016.
“We are delighted to officially welcome Maintenance Supply Headquarters and their talented team into the Lowe’s family,” said Michael Tummillo, senior VP of Lowe’s pro sales. “Together, Maintenance Supply Headquarters and Central Wholesalers expand Lowe’s ability to serve the highly attractive and growing multifamily housing industry while strengthening our foundation for future growth with enhanced product and service offerings. With this latest transaction, we look forward to delivering even more value for our pro customers.”
With a portfolio of more than 5,300 products and value-added services for maintaining and renovating multifamily properties, Maintenance Supply Headquarters operates 13 distribution centers primarily in the western, southeastern and south central U.S. With the acquisition now complete, Lowe’s MRO business now includes 16 distribution centers generating more than $400 million in incremental annual sales.
Source: Lowes.com