ProBuild Holdings is one of the largest privately held diversified suppliers of lumber and building materials to professional builders and contractors in the United States.
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Markets Served
ProBuild currently operates approximately 423 lumber and building product distributions, manufacturing and assembly centers serving 45 U.S. states.
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Company History and Acquisitions
In 1997, Fidelity Capital, the business development arm of Fidelity Investments, acquired the Strober Organization, a supplier of building materials to professional builders and contractors in the Northeast. Over the next nine years, Strober acquired additional regional brands, extending its reach to the mid-Atlantic and Southeast markets.
By 2005, Strober had become one of the largest professional building materials dealers in the United States. In 2008, Fidelity Capital purchased Lanoga Corporation, which was, at the time, the nation's third largest professional building materials dealer. Fidelity made the purchase through ProBuild Holdings, Inc., a newly created entity that included the Strober Organization. The Strober Organization was the sixth largest professional building materials dealer in the U.S. at the time. With the purchase of Lanoga, ProBuild's 2006 resources comprised over 420 locations in 38 states with more than 14,000 employees.
The subsequent acquisitions of Hope Lumber and Supply and other lumber suppliers made ProBuild the largest professional building materials dealer in the United States by 2007 with more than 506 locations nationwide.
Following the downturn of the housing market in the United States in 2008, ProBuild consolidated a number of facilities and exited several markets, including Chicago and Pittsburgh. As was the case with much of the home building industry, sales fell during the downturn. ProBuild reported just over $3 billion in sales in 2009, down from at 2006 peak of $6 billion. By 2013, the company reported a 9 percent increase in sales from the prior year.
On July 31, 2015, Builders FirstSource acquired ProBuild Holdings LLC, creating a more diversified company with enhanced scale and improved geographic footprint. The combined company, on a pro forma basis, generated over $6 billion in annual revenue in 2015 and currently operates approximately 400 locations in 40 states, with a market presence in 74 of the top 100 Metropolitan Statistical Areas in the United States. Builders FirstSource strives to be the preferred supplier of structural building materials and services to homebuilders and remodelers across the nation by giving them both personalized attention at the local level and a wide range of resources only offered by a large company. Builders FirstSource's goal is to provide outstanding products and services to every customer, regardless of size.
References
External links
- Official website probuild.com
Source of article : Wikipedia
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