Grove City, Ohio-based building materials distributor Palmer-Donavin has acquired Diamond Hill Plywood (DHP), the company announced April 10. Financial details of the transaction were not disclosed.
Founded in 1945, DHP is a distributor of building and construction-related products including lumber, hardwood plywood, trims, siding, composite board, decking and railing. DHP is headquartered in Darlington, South Carolina, and also operates sales and distribution centers in Greenville, South Carolina; Raleigh, North Carolina; Knoxville, Tennessee; and Richmond, Virginia. The acquisition allows Palmer-Donavin — which primarily serves the Midwest region from its locations in Ohio, Michigan, Kentucky and Wisconsin — to expand into the southeastern U.S.
DHP’s locations will continue to operate under the Diamond Hill Plywood brand, according to a news release, while DHP’s 110 employees are now part of the Palmer-Donavin Employee Stock Ownership (ESOP).
“DHP is proud to have partnered with Palmer-Donavin, a company who will allow us to grow, keep our employees, and continue operating from our five locations,” DHP Vice President of Sales Jim Ponzurick said in the release. “The partnership will be seamless as we have the same traditions, values, and hard-working culture. We are very excited to be working together.”
“We are pleased to be able to come together as two leading distributors in our industry,” Palmer-Donavin CEO Robyn Pollina said in the release. “Diamond Hill Plywood and Palmer-Donavin are better together. We can grow more effectively together than as two separate companies. This year, we plan to learn from one another and will work together with a goal of continuing our mission to deliver more to our dealers, partners, and employees.”