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Stock Building Supply, Raleigh, NC, the $3.6-billion supplier of building materials to professionals in the U.S., has acquired Davidson Industries, Indianapolis, IN. The Davidson acquisition will provide SBS entry into the Indianapolis market, the 17th largest U.S. metropolitan area.
Davidson, with annual sales of $65 million, brings 327 associates to Stock, and key management will remain in place. Established as Southport Lumber Co. in 1925, the company changed its name to Davidson Industries, Inc. in 1970. It consists of two locations - the Franklin site on 32 acres with 292,500 square feet of buildings, and Fishers on 7.8 acres with 36,000 square feet of buildings.
"Davidson is an attractive addition because of its consistent market and customer base, and the opportunity to expand further across Indiana," said Fenton Hord, Stock president and CEO. "Annual housing starts in the Davidson market have exceeded 13,000 since 2000 and are estimated to remain in excess of 13,000 for the next four years despite projected slowdowns in other parts of the U.S."
Raleigh, NC-based Stock Building Supply now operates 240 locations in 28 states, with sales of $3.6 billion in the fiscal year 2004 ending Jul. 31. Stock is a subsidiary of Wolseley plc of Theale, England, which had worldwide sales in fiscal year 2004 of $18 billion.