Raleigh, N.C.-based Stock Building Supply, a supplier of building materials, announced it will acquire Seigle's Inc., a provider of building materials and contractor services in Chicago and Northern Illinois.
The Chicago housing market has consistently been one of the 10 largest in the United States," said Fenton Hord, Stock president and CEO. "Entering this market is another step forward in our value proposition to customers who want to deal with a true national distributor." nbsp; Founded in 1881, Seigle's has 11 locations through which it sells lumber, building materials, framing services and value-added products such as components, millwork, and windows and cabinetry. The acquisition includes the operations of Michael Nicholas Carpentry LLC, a turnkey provider of framing services to production builders. "Its product mix is highly attractive and reflects where we are moving to position Stock as a whole," Hord said. nbsp; The purchase of Seigle's, which recorded sales of $257.8 million in 2004, adds 1,300 associates to Stock. The current management team, including Mark and Harry Seigle, will remain with the company. "We are confident Seigle's has affiliated with America's premier leader in the building supply industry, benefiting our customers and employees," said Chairman Harry Seigle.
Stock Building Supply now operates 266 locations in 30 states, with reported sales of $4.1 billion in the fiscal year 2005, ending July 31. Stock Building Supply is a subsidiary of Wolseley PLC of Theale, England, which had worldwide sales in fiscal year 2005 of more than $20 billion.