Lowe’s Buying Maintenance Supply Headquarters
(June 1, 2017) Lowe’s, Mooresville, N.C., has agreed to acquire 13-branch Maintenance Supply Headquarters, Houston, Tx., for $512 million.
The deal is set to close in the second quarter.
Lowe’s will pair the operation with the three branches of fellow MRO supplier Central Wholesalers it acquired in late 2016. Maintenance Supply serves the West, South Central, and Southeast, while Central Wholesalers sells into the Northeast and mid-Atlantic.
“Lowe’s has long served the multifamily housing industry through our Pro Services business, and we are excited about the potential to further expand our presence in this highly attractive and growing customer segment,” said Richard D. Maltsbarger, Lowe’s chief development officer and president of international. “Together, Maintenance Supply Headquarters and Central Wholesalers will expand our capabilities in serving this key segment while strengthening our platform for future growth with enhanced product and service offerings for MRO customers.”
Michael A. Tummillo, recently appointed senior vice president of Lowe’s pro sales organization, will oversee Maintenance Supply Headquarters and Central Wholesalers, as well as Lowe’s Pro Services and Alacrity Services.