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| Client: |
Moore's Lumber and Building Supplies, Inc. ("Moore's" or the "Company") |
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| Purchaser: |
The Strober Organization, Inc. ("Strober") |
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| Business: |
Moore's is one of the 25 largest suppliers of lumber and related building material component products in the United States. The Company operates 19 Building Material Distribution Centers serving residential and commercial building professionals, repair and remodeling contractors, and do-it-yourself consumers involved in major home improvement projects. |
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| Client Objective: |
After successfully transforming Moore's from a retail home centers company into a professional contractor focused supplier of building materials, and positioning it for significant growth, the Company's owners, Watermill Ventures and Rooney Holding Company, sought to exit their long-term investment. The owners sought a buyer that was committed to investing in Moore's exciting growth opportunities. |
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| Results: |
BGL was engaged by the Company's two financial sponsors to sell the business. BGL initiated a targeted sale process, approaching the most likely global strategic acquirers as well as a select group of private equity firms interested in the building materials sector. The sale was consumated with Strober, an industry leader with a strong synergistic fit with Moore's.
Additionally, Moore's owned most of the properties where its distribution centers were located. BGL assisted Moore's in arranging a sale/leaseback on select Company properties through a parallel process that helped Moore's owners maximize their investment value. |
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