Stock Building Supply, Raleigh, NC, distributor of building materials and construction services, has acquired Tonto Verde Construction Inc. (framing services) and Precision Forest Products, LLC (lumberyard).
‘Tonto represents an excellent seed acquisition to mark Stock’s entrance into the Phoenix market, which has been consistently one of the top five largest housing markets in the U.S for several years,’ says Fenton Hord, Stock CEO and president.
Founded five years ago, Tonto is a framing contractor in Phoenix. In 2005, the company established its own four-acre lumberyard, Precision Forest Products, to supply its lumber needs. Tonto has enjoyed significant growth in recent years, with sales of $37 million in 2005.
Stock Building Supply now operates 322 locations in 34 states, with reported sales of $5.3 billion for the fiscal year 2006. Stock Building Supply is a subsidiary of Wolseley plc of Theale, England, which had sales in fiscal year 2006 of more than $25 billion.