Lowe’s closes Maintenance Supply Headquarters acquisition for $512m
US-based home improvement firm Lowe’s Companies has completed its previously announced $512m acquisition of Maintenance Supply Headquarters, which operates distribution centres.
Maintenance Supply distributes maintenance, repair and operations (MRO) products for the multifamily housing industry.
According to Lowe’s, the acquisition will allow it to broaden its relationship with pro-customers and better serve their needs.
First announced last month, the transaction comes after Lowe’s acquired MRO distributor Central Wholesalers last year.
Lowe’s pro-sales senior vice-president Michael Tummillo said: “Together, Maintenance Supply Headquarters and Central Wholesalers expand Lowe’s ability to serve the highly attractive and growing multifamily housing industry while strengthening our foundation for future growth with enhanced product and service offerings.
“With this latest transaction, we look forward to delivering even more value for our pro-customers.”
Maintenance Supply operates 13 distribution centres catering to customers in 29 geographic areas in the western, southeastern and south-central US.
It has a portfolio of more than 5,300 products and value-added services for maintaining and renovating multifamily properties, including appliances, plumbing, HVAC, lighting and hardware.
Lowe’s Companies serves more than 17 million customers a week in the US, Canada and Mexico.
The company and its related businesses operate or service more than 2,370 home improvement and hardware stores.