Stock Building Supply, Raleigh, NC, has completed the acquisition of assets from National Home Centers Inc., a supplier of building materials in Arkansas.
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“We are pleased to complete this transaction and look forward to working with our new colleagues in central and northwest Arkansas,” said Joe Appelmann, president and CEO. “Stock transformed its operating model over the past year to become a leaner, more focused organization. This process has allowed us to seize significant opportunities like National Home Centers. We will continue to explore intelligent growth options both in our core markets and elsewhere if opportunities arise.”
The Gores Group, LLC acquired a majority stake in Stock in May 2009. UK-based distributor Wolseley plc still holds a minority investment in the company.
National Home Centers filed a voluntary petition for federal bankruptcy reorganization on Dec. 8, 2009. Stock entered into an asset purchase agreement with National Home Centers on Feb. 26, 2010, acting as a “stalking horse” bidder for the purchase of substantially all of the assets of National Home Centers under Ch. 11 of the U.S. Bankruptcy Code. On April 2, 2010, the bankruptcy court approved the sale of the assets to Stock, and Stock completed the transaction on April 5, 2010.
Stock operates out of 19 markets.