Stock completes Bison acquisition
Stock Building Supply Holdings completed its purchase of Bison Building Holdings Inc. and its subsidiaries pursuant to Section 363 of Chapter 11 of the U.S. Bankruptcy Code.
The combination of Stock and Bison creates the largest building materials distributor in Houston and is Stock's second acquisition this year.
Stock also completed the acquisition of National Home Centers Inc. in Arkansas in April 2010.
"We will continue exploring intelligent growth options both in our core markets and elsewhere if opportunities arise. This acquisition is an excellent strategic transaction for Stock and allows us to continue to transform our operating model to specifically focus on the residential construction market," said Joe Appelmann, chief executive officer of Stock. "The combination of Stock and Bison further strengthens our residential business in Texas. It also leverages each company's strengths and will ultimately provide an enhanced experience for our customers."
Headquartered in Raleigh, N.C., Stock currently operates in 20 residential markets across the country.
"With its acquisition by Stock, Bison is joining a financially strong company that will better support the growth of our customers in the Houston market," said Pat Bierschwale, Bison's chief executive officer. "This is a very favorable outcome for Bison, and we are looking forward to working with our new colleagues."
The combined business will trade in the Houston market as Bison Building Materials, a Stock Building Supply Company. Tom Tolleson, chief operating officer for Bison, will lead the combined Houston operations. Tolleson has been with Bison for 10 years in various leadership functions including operations and sales.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
