ECMD Acquired Madison Lumber Company
North Wilkesboro, NC – ECMD, Inc., located here, acquired Madison Lumber Company. Madison Lumber was established in 1986 in Huntsville, AL. Madison Lumber is a specialty distributor of mouldings, boards and pattern stock servicing lumber yards and builders in Northern Alabama and Mississippi, as well as Central Tennessee including Nashville.
ECMD plans on significant growth with the acquisition of Madison Lumber. ECMD’s Employee Stock Option Plan (ESOP) structure will allow the company to position itself in a way that will allow privately owned companies into their portfolio. ECMD’s portfolio includes seven operating divisions, including, EastCoast Mouldings, Klumb Forest Products, Crown Heritage Stairs, ECMD Distribution, Arndt & Herman Building Products, Clifton Moulding Co. and Madison Lumber Company.
Madison Lumber will continue to operate independently. ECMD will integrate various parts of its business when it benefits Madison Lumber’s employees, vendors and customers.
To learn more visit, www.ecmd.com.
Nation’s Best Acquires Two Home Center Businesses
Dallas, TX – Nation’s Best, located here, has acquired Patrick Building Supply & Rental, located in Stuart, VA and its sister store, Mountain View Home & Hardware located in King, NC.
These two home centers fit with the Nation’s Best partnership model. These stores have been tailored to the needs of each location’s community and offer a variety of lumber products including boards, dimensional lumber species in Pine, Hemlock, Balsa and a variety of hardwoods, survey/grade stakes and batten boards, furring strips and MDF.
Patrick Building Supply & Rental and Mountain View Home & Hardware help Nation’s Best continue to expand its East Coast presence. Both home centers will maintain operations under their existing names with their key leadership teams overseeing company operations alongside Nation’s Best, which will provide the strategic and financial support necessary to drive optimal growth and profitability.
Nation’s Best was founded in 2019 and currently owns and operates a growing number of locations across the United States. They are committed to identifying and acquiring best-in-class independent home improvement stores to ensure their continued relevance as community resources.
To learn more visit, www.nationsbest.net.
The Oxford Group Acquires Appalachian Truss
Burnsville, NC – The Oxford Group, a private equity firm, has acquired Appalachian Truss, located here, announced Viking Mergers & Acquisitions.
The Oxford Group acquires businesses that align with the firm’s operating practices and principles. Appalachian Truss is the second truss manufacturer acquired by The Oxford Group. They purchased Garfield Truss Systems in 2021. This acquisition has allowed them to expand their capacity for innovation and quality production.
Appalachian Truss is a leading truss manufacturer in western North Carolina, offering custom roof and floor truss systems, as well as recycled Pine firewood, Pine sawdust and dried Pine chips. The business was previously owned and operated by Kevin Birkmayer. Appalachian Truss provides high-quality building components along with customer service, as well as delivery trucks and a crane for assisting builders with installation.
Appalachian Truss has been an important supplier throughout the western North Carolina and southeast Tennessee residential and commercial markets for the past 10 years.
Viking Mergers and Acquisitions assisted Birkmayer in this transaction. Viking Mergers and Acquisitions provides exit strategy services to middle-market business owners.
To learn more visit, www.appalachiantruss.com.
Blue Ridge Lumber Makes A Big Entrance Into Pennsylvania
Blairstown, NJ – Blue Ridge Lumber, located here, has expanded and continues to substantially grow their presence throughout the state of Pennsylvania. Blue Ridge Lumber operates five locations within New Jersey and in the past year has purchased two companies, totaling four locations.
Blue Ridge Lumber recently acquired Gumble Brothers Home Centers located in Tafton, PA. Gumble Brothers, founded in 1926, provides mill services and produces Douglas Fir timbers. Blue Ridge also offers a variety of lumber products in Douglas Fir, kiln-dried and green Douglas Fir, Hemlock Fir, Southern Yellow Pine, Spruce-Pine-Fir and Western Spruce-Pine-Fir.
With Gumble Brothers and Blue Ridge Lumber having been business partners in the past, it made sense for Blue Ridge to continue expanding into Pennsylvania by acquiring Gumble Brothers. Blue Ridge did not have any plans to initially expand into Pennsylvania but didn’t pass up the chance when approached by Cramer’s Building Center to buy three of their locations before being approached by Gumble Brothers.
For more information visit, www.blueridgelumber.com.
Carter Lumber Expands Into South Carolina
Kent, OH – Carter Lumber, headquartered here, a leading building materials supplier, has announced that it will be expanding into Florence County, SC. The company’s $26 million investment will create 80 new jobs. Carter Lumber has more than 170 locations across the Midwest, mid-Atlantic and Southeast regions. They are the fourth largest professionally focused lumber and building materials supplier in the nation.
This new location in Florence County will be Carter Lumber’s third in South Carolina. They have plans to renovate a 120,000 square-foot facility to manufacture roof and floor trusses along with hanging interior door units. This location will also serve as a millwork warehouse for stock mouldings and the products will be delivered to residential, commercial and multi-family job sites.
To learn more visit, www.carterlumber.com.
Sherwood Lumber Unveils Distribution Center in Danville, PA
Melville, NY – Sherwood Lumber, headquartered here, a leading distributor of exterior building products has announced the opening of a new distribution center in Danville, PA. This expansion will strengthen Sherwood’s presence in the Mid-Atlantic markets and continues to make the company a strong player in the region.
This new distribution center will allow Sherwood to provide faster delivery and a greater inventory to their customers, as well as introduce new products to their market. The site is expected to be fully operational by the end of 2023 or early 2024.
Sherwood was founded in 1954. The company has been a leader in the lumber and building materials industry. Sherwood’s exterior division is an essential bridge between manufacturers and lumberyard channels.
To learn more visit, www.sherwoodlumber.com.
NRF Economist Says U.S. Recession Unlikely And Expects Slight Growth In 2023
Washington – Chief Economist, Jack Kleinhenz, at the National Retail Federation (NRF), located here, said that a recession is unlikely and that the economy is expected to grow slightly during 2023.
While households may feel some recession-like conditions, they will not be severe enough to be considered an official recession. Kleinhenz’s remarks came in an issue of the NRF’s Monthly Economic Review.
The National Bureau of Economic Research has declined to declare an official recession as the decline of the first half of 2022 only affected certain sectors of the economy, as opposed to there being a significant decline across the entire economy.
Depending on whether the Fed can strike the right balance between interest rates and inflation will determine if the economy sees a slow growth or a falloff.
As the NRF is the leading authority and voice for the retail industry, they analyze the economic conditions that affect the industry through reports like the Monthly Economic Review.
For more information visit, www.nrf.com.