Mead Lumber Purchases CMC And Reaves Buildings
Mead Lumber Company announced on Dec. 6, 2023 the purchase of Component Manufacturing Company and Reaves Buildings of Sioux Falls, SD.
Component Manufacturing Company is a truss fabrication facility that manufactures trusses, wall panels and floor joists. Reaves Buildings designs, builds and supplies engineered buildings.
They have been servicing the upper Midwestern states of South Dakota, North Dakota, Minnesota, Iowa, and Nebraska since 1973.
“Joining the Mead Lumber family marks a new chapter for everyone at Component Manufacturing Company and Reaves Buildings,” said Jeff Thue, President of Component Manufacturing Company and Reaves Buildings. “Mead Lumber’s unique approach truly aligned with our aspirations. Their 100 percent employee-owned structure and deep-rooted community values reflect our own.”
“We are extremely excited to have Component Manufacturing Company and Reaves Buildings join our family,” said Dave Anderson, President, and CEO of Mead Lumber. “Component Manufacturing Company and Reaves Buildings is a great fit culturally for us. It also allows us to expand and service customers in that region. We are looking forward to combining the strengths of our two companies, aiming to elevate the exceptional service our customers have come to expect.”
Both businesses will continue to operate under the Component Manufacturing Company and Reaves Buildings names. The current management team under the direction of Thue will continue to lead day-to-day operations at both Component Manufacturing Company and Reaves Building Systems.
All the current employees will remain and become employees of Mead Lumber.
For more information, go to www.meadlumber.com.
84 Lumber Opens Newest Component Plant Outside Of Atlanta
84 Lumber has announced the opening of its latest facility in Cartersville, GA as part of the company’s ongoing expansion plans.
The new truss plant, which was scheduled to open by late December, is located on an 18-acre plot.
It will service and support the Atlanta market. This truss plant will also work in tandem with the existing plant in Oxford, GA, bringing component manufacturing capabilities to more customers.
According to Blue Book Services, “With thousands in annual housing starts in the past decade alone, Atlanta is one of the fastest-growing markets, which is why we decided to expand our footprint here,” said 84 Lumber Vice President of Installed Sales and Manufacturing Ken Kucera. “84 Lumber has made it a priority to invest time and resources in this growing market.”
The company has been servicing the Atlanta market since the early 1970s and greatly expanded its footprint during the 2000s housing boom. 84 Lumber later opened an additional lumberyard, as well as a dedicated window shop to keep up with market demand.
In addition to this new truss plant, 84 Lumber recently opened a new door shop in Denver, CO, and expanding in the state of California. 84 Lumber is also opening component plants in Winter Haven, FL; Columbia, SC; and Boise, ID.
About 84 Lumber
Founded in 1956 and headquartered in Eighty Four, PA, 84 Lumber Co. is among the nation’s largest privately held supplier of building materials, manufactured components and industry-leading services for single and multifamily residences and commercial buildings. The company operates 310 facilities which include stores, component manufacturing plants, custom door shops and engineered wood product centers in 33 states. 84 Lumber also offers turnkey installation services for a variety of products, including framing, insulation, siding, windows, roofing, decking and drywall.
A certified national women’s business enterprise owned by Maggie Hardy, 84 Lumber was named one of America’s Largest Private Companies by Forbes and made the Inc. 5000 list of America’s Fastest-Growing Companies in 2023.
For more information, visit www.84lumber.com.
Employees Take Over New York Home Center Chain
After nearly a century of family ownership, Burke’s Do it Best Home Centers in Oswego and Fulton, NY, have been sold to a trio of former employees.
Brothers Chuck and Tom Handley, whose great-grandfather founded the business in 1926, are selling to Jason and Christopher Rinoldo, and Jeffrey McGann.
“Knowing that Burke’s is in the hands of individuals who have been a part of its journey for decades brings us immense comfort,” said Tom Handley.
The business sells Portbec Premium Spruce, which is “recognized as the leader in quality Spruce dimensional lumber.”
“Burkes relationship with Portbec ensures our customers receive the highest quality lumber products for all of their jobs. Whether you are a professional builder or a weekend warrior you will appreciate the quality and strength of the lumber products,” according to Rinoldo and McGann.
Rinoldo started working at Burke’s as a 16-year-old in 1989, before becoming an accountant. Brother Chuck also worked at Burke’s while in high school, working his way up to operations manager at Brookfield Power. McGann was a salesman and assistant manager with Burke’s before founding his own construction company. He is currently the director of code enforcement, planning & zoning for the city of Oswego.
The Handleys expect to remain with the company “for a year or more” to assist with the transition.
For more information, go to www.burkesdoitbest.com.
Star Equity Holdings Announces Acquisition Of Big Lake Lumber
Star Equity Holdings, Inc. (“Star” or the “Company”), a diversified holding company, announced it has completed the acquisition of Big Lake Lumber, Inc. (“Big Lake”), a Minneapolis-based building supply center and lumberyard, effective October 31, 2023. Big Lake will be integrated into Glenbrook Building Supply, Inc. (“Glenbrook”), one of the businesses in Star’s Construction division.
“We are excited to announce this important transaction for Star and Glenbrook,” said Rick Coleman, Star’s CEO.
“This complementary bolt-on establishes Glenbrook as a regional player in the twin cities metro area and expands its client base. Furthermore, the accretive transaction immediately diversifies Glenbrook’s revenue mix by adding more single-family residential business and presents opportunities for margin synergies going forward – both of which we expect to generate substantial value for Star shareholders.”
Ron Schumacher, Executive Chairman of Glenbrook, said, “Big Lake is a tremendous culture fit for Glenbrook, and we are excited to welcome all Big Lake employees to the Glenbrook team. The scale created by this transaction positions Glenbrook well for further growth, increased market recognition, and potential new product lines.”
Following the acquisition of Big Lake, Star will remain composed of two divisions: Construction and Investments. Big Lake Lumber will be rebranded as a new location within Glenbrook. Star will continue to pursue its growth strategy as a diversified holding company through both organic growth and acquisitions.
For more information, go to www.biglakelumber.com and www.starequity.com.
Beacon Announces New Locations In California, Texas
Beacon (Nasdaq: BECN) recently announced that it has opened new locations in Riverside, CA and Houston, TX to serve residential and commercial contractors.
Beacon offers a variety of Softwood lumber, including SYP and Spruce.
The new Riverside, CA branch is in the Inland Empire region of Southern California.
“This area is one of the fastest-growing population centers in the U.S. and we are pleased to serve contractors from our Riverside, San Bernardino and Norco branches which operate as a Beacon OTC® network.
Customers have access to our full catalog of products and are assured on-time delivery so that they can grow their businesses,” commented Nevin Holly, Beacon’s Regional Vice President, Pacific.
For more information, go to www.becn.com.
Top Rail Fence Opens Tampa Store
Top Rail Fence, the professionals in fence design, quality, installation, and service, hosted the grand opening in December of its Tampa location with a celebration at the Tampa Bay Humane Society. Location owners Matthew and Alicia Heck will present the animal welfare group with a donation.
The store’s Cedar wooden fencing is one of many materials sold by Top Rail Fence.
“We decided to partner with the Tampa Bay Humane Society because of the obvious connection between pets and fences,” Matthew Heck said. “We’re proud to build a business in our local community and want to be known for our exceptional customer service and reliability. We want to make our community better by building strong, durable, and aesthetically pleasing fences and by partnering with valuable non-profits like the local humane society.”
For more information, go to www.toprailfence.com.
Henson Lumber Announces Acquisition Of Decatur Lumber In Texas
Henson Lumber, a leading provider of high-quality lumber and building materials, has announced the acquisition of Decatur Lumber, a lumberyard based in Decatur, TX that has been family owned for over 44 years. This strategic move marks a significant milestone in Henson Lumber’s expansion efforts and strengthens its position as a premier supplier in the state of Texas.
The acquisition of Decatur Lumber represents a natural synergy between two area leaders committed to providing exceptional products and services to customers. The combined expertise and resources of both companies will enhance the overall customer experience and offer an even broader range of products to meet the diverse needs of builders, contractors, and homeowners in the North Texas region, according to company statements.
Customers of both Henson Lumber and Decatur Lumber can expect a seamless transition as the integration process begins. Henson Lumber is dedicated to maintaining the high standards of quality and service that both companies are known for, while also exploring opportunities to introduce new and innovative offerings.
For more information, go to www.hensonlumber.com.
US LBM Acquires Truss Producer Holderness
According to published reports, US LBM, an Atlanta, GA-based lumber and building materials distributor announced it has acquired Holderness Supplies, a manufacturer of structural building components and distributor of engineered wood products in Arizona.
Holderness Supplies, of Tucson, operates an 11-acre facility, manufacturing floor and roof trusses as well as distributes specialty lumber, framing materials and engineered wood products to builders across Arizona.
Holderness’s website states it has been serving the Tucson market, and beyond, for more than 65 years.
With this acquisition, US LBM now operates eight component manufacturing locations in Arizona.
This was the second acquisition within days by US LBM. It also acquired the Dallas-Fort Worth operations of ZyTech Building Systems, a building product manufacturer and distributor, according to published reports.
The facility acquired by US LBM is located in Fort Worth, Texas and primarily designs and manufactures structural building components, such as floor and roof trusses and associated engineered wood products for professional builders in the Dallas-Fort Worth area.
US LBM, which is based in Atlanta, GA, operates more than 450 locations across the United States and has over 13,500 associates.
Learn more at www.uslbm.com.
Lubbock Welcomes McCoy’s
McCoy’s Building Supply, which offers lumber in boards and dimensional lumber/pressure treated lumber as well as engineered wood products, fencing, trim and fascia, has opened its latest location, which is in Lubbock, Texas.
McCoy’s previously had a store in Lubbock from 1971 through 1995.
Based in San Marcos, Texas, McCoy’s Building Supply operates over 80 stores, distribution centers, and millwork facilities in Texas, Oklahoma, and New Mexico. The company has more than 3,000 employees.
Visit www.mccoys.com.
Sparta, IL, Site of R.P. Lumber Grand Opening
R.P. Lumber held its grand opening celebration at its new Sparta, IL, location recently, which was formerly occupied by Wright Building Center. More than 250 people attended the two-day event.
At this location, lumber, plumbing fittings, electrical supplies, and Milwaukee PACKOUT items appear to be the most in-demand merchandise, according to R.P. Lumber District Manager Doug Ernsting, who commented in published reports about the Sparta location.
Founded in 1977 by Robert and Donna Plummer in Staunton, IL, R.P. has grown its presence to 82 locations throughout Illinois, Missouri, Wyoming, Iowa, and Wisconsin. The company also operates two truss manufacturing facilities and an e-commerce platform.
R.P. Lumber’s headquarters are in Edwardsville, IL.
Learn more at www.rplumber.com.
ABC Supply Acquires Assets Of John S. Wilson Lumber Company
ABC Supply is excited to announce it has acquired the assets of John S. Wilson Lumber Company in West Friendship, MD.
The acquired John S. Wilson Lumber Company’s lumberyard location (12950 Livestock Road in West Friendship) will operate as an ABC Supply location offering decking, roofing, siding, windows and related trim products.
“John S. Wilson Lumber Company has built generations of loyal customers by providing unparalleled service,” said Tom Kuchan, ABC Supply’s Northeast Region vice president. “We are excited that these talented associates are now part of the ABC Supply team, and we look forward to helping contractors in this growing market achieve even greater success.”
Family-owned and -operated since 1881, John S. Wilson Lumber Company has provided specialty building materials to area builders and contractors for 142 years. Most recently, brothers Hugh, Jim and Craig O’Donnell served as owners of the business.
Visit abcsupply.com to learn more about the company and see all of ABC Supply’s locations.
Job Openings Fall, But Not For Construction
According to part of a report by Eye On Housing by Robert Dietz of the National Association of Home Builders (NHAB), in October (the most recent data released at press time), the number of open jobs for the economy declined to 8.7 million. This is notably lower than the 10.5 million reported a year ago. NAHB estimates indicate that this number must fall back below 8 million for the Federal Reserve to feel more comfortable about labor market conditions and their potential impacts on inflation.
While the Fed intends for higher interest rates to have an impact on the demand-side of the economy, the ultimate solution for the labor shortage will not be found by slowing worker demand, but by recruiting, training and retaining skilled workers. This is where the risk of a monetary policy mistake can be found. Good news for the labor market does not automatically imply bad news for inflation.
The construction labor market remained tight in October. The count of open construction jobs was steady at 423,000 in October after a revised reading of 427,000 in September. The count was 398,000 a year ago, during a period of housing market cooling. These estimates come after a data series high of 488,000 in December 2022. Despite recent tightness, the overall trend is one of cooling for open construction sector jobs as the housing market remains off peak levels and backlog is reduced, with a notable uptick in month-to-month volatility since late last year.
The construction job openings rate was steady at 5 percent in October. The recent trend of these estimates points to the construction labor market having peaked in 2022 and is now entering a stop-start cooling stage as the housing market adjusts to higher interest rates. But the relatively elevated rate of construction job openings reflects the ongoing skilled labor shortage.
The housing market remains underbuilt and requires additional labor, lots and lumber and building materials to add inventory. Hiring in the construction sector increased to a 4.7 percent rate in October after 3.9 percent in September. The post-virus peak rate of hiring occurred in May 2020 (10.4 percent) as a post-covid rebound took hold in home building and remodeling.
Construction sector layoffs were steady at a 2 percent rate in October after 2 percent in September. In April 2020, the layoff rate was 10.8 percent. Since that time, the sector layoff rate has been below 3 percent, with the exception of February 2021 due to weather effects and March 2023 due to some market churn.
Looking forward, attracting skilled labor will remain a key objective for construction firms in the coming years. While a slowing housing market will take some pressure off tight labor markets, the long-term labor challenge will persist beyond the ongoing macro slowdown.
Learn more at www.eyeonhousing.org.
