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Carolyn Atkinson
Director of Marketing & Communications
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| ProBuild Holdings, Inc. Finalizes Purchase Of Hope Lumber And Supply Company |
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| Nation's Largest Professional Building Materials Supplier Completes Second Major Acquisition this Year |
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Boston, MA (August 1, 2006) - ProBuild Holdings, Inc., the nation's largest supplier of building materials to professional contractors, announced today that it has finalized the transaction, previously announced on June 16, 2006, to purchase Hope Lumber and Supply Company from Rooney Holdings, Inc. Based in Tulsa, Oklahoma, Hope Lumber is a leading supplier of lumber, trusses, engineered wood products, millwork and other building materials to the professional residential contractor trade. It operates 49 yards and five truss plants in nine states in the Southeastern and South Central U.S. Terms of the sale were not disclosed.
"This certainly has been an outstanding year for ProBuild," said Paul L. Mucci, chairman of ProBuild. "Following closely on the heels of our acquisition of the Lanoga Corporation in February, this deal is yet another significant step in solidifying ProBuild's national presence."
"Hope Lumber is a strong market leader with an established reputation, experienced management team and outstanding employee base," said Frederick M. Marino, chief executive officer and vice chairman of ProBuild Holdings. "Hope's operations are an excellent strategic fit with our current building supply holdings, allowing us to further strengthen our geographic reach and provide our builder partners with more fully integrated solutions."
"This acquisition represents a tremendous opportunity for Hope Lumber," said Jim Cavanaugh, who will continue as president of Hope Lumber. "Aligning ourselves with such a major national player will provide us with access to the resources necessary to continue to pursue additional growth opportunities and, most importantly, more effectively serve our customers."
About ProBuild Holdings, Inc.
ProBuild Holdings is the nation's largest supplier of building materials to professional contractors. Currently operating more than 400 lumber and building product distribution, manufacturing and assembly centers throughout the U.S., ProBuild trades under several regional brands, including: United Building Centers, Spenard Builders Supply, Lumbermens, Home Lumber Company, Dixieline Lumber Company, F. E. Wheaton & Company, Strober Building Supply, U.S. Components, and The Contractor Yard.
Hope Lumber and Supply Company
Hope Lumber is a privately-held, leading supplier of lumber, trusses, engineered wood products, millwork, and other building materials to the professional residential contractor. The company was founded in the early 1900's by George D. Hope and today it operates 49 yards and five truss plants in nine states in the Southeastern and South Central U.S. (Alabama, Colorado, Florida, Georgia, New Mexico, North Carolina, South Carolina, Oklahoma and Texas).
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