We are pleased to have been able to assist the Parker’s team in generating such a positive outcome for its stakeholders.
Old Greenwich, CT (PRWEB) February 01, 2016
Anchor Peabody Advisory Services, LLC (“Anchor Peabody” or “the Firm”) announced today that its client, Beaumont, TX-based Parker’s Building Supply (“Parker’s”), has been acquired by US LBM Holdings, LLC (“US LBM”). The acquisition of Parker’s provides US LBM with an entrance in to the key markets of Texas and Southern California. Mr. Scott Parker will continue with the company in an advisory role and Mr. Chris Miller will take over as President. Post-closing, US LBM becomes one of the largest Do-It Best dealers in the country. Anchor Peabody was the exclusive financial advisor to Parker's.
“We’re thrilled to join the US LBM team,” said Scott Parker, owner of Parker’s Building Supply. “Partnering with the right company will continue to position our brand for growth and presents a great opportunity for our associates.”
“Scott Parker built a best-in-class home improvement retailer and partnering with US LBM makes both companies stronger,” said Jason Fraler, Managing Partner at Anchor Peabody. “The acquisition provided a very important liquidity event for the Parker family, and set both companies up with key extensions in products, people, and geographies. This transaction is a win-win for the shareholders, the management team and employees of both sides. We are pleased to have been able to assist the Parker’s team in generating such a positive outcome for its stakeholders.”
ABOUT PARKER’S BUILDING SUPPLY
Founded in 1930 by B. Wyde, Parker’s is a family‐owned, Texas‐based home improvement retailer with approximately $100 million in revenues across 22 retail stores in Texas and Southern California. Parker’s provides a wide array of hardware, paint, power tools, windows, doors, cabinetry, lumber, building materials, and lawn and garden tools to the DIY and DIFM consumer, remodeler and professional contractor. For more information, visit http://www.parkersbuildingsupply.com.
ABOUT US LBM HOLDINGS
US LBM, with over $2.0 billion in revenues, is the 3rd largest building products distributor in the United States. It is a collection of leading building material distributors across North America operating 227 locations in 28 states. US LBM implements the philosophy of local management and leadership to capitalize on the premier reputation of its operating companies and local customer relationships. For more information, visit http://www.uslbm.com.
ABOUT ANCHOR PEABODY
Anchor Peabody provides investment banking services to owners and executives of middle-market building industry companies. The Firm has a reputation for fostering long-term relationships with its clients as their independent advisor of choice on transactions such as selling or buying a business, mergers, recapitalizations, restructurings, and other transaction-related matters. Anchor Peabody is one of the most active middle-market advisory firms, having completed a variety of transactions with some of the industry’s premier firms and executive teams. The Firm combines decades of experience as industry operators, investors, advisors, and owners with a full-time focus on providing financial advice to the building products and construction industry. For more information, visit http://www.anchorpeabody.com.