Hardwoods Distribution Inc., a leading supplier of building products in North America, has announced that it purchased Eagle Plywood and Lumber.
The agreement between the two companies stipulates that Hardwoods acquires a substantial amount of the assets and assumes certain liabilities of Eagle, worth $400,000 and an additional $200,000 that is subject to sales performance moving forward.
Commenting on the buy-out, Hardwoods distribution president and CEO Rob Brown said:
“This acquisition is a good example of our ability to leverage the robust pipeline we acquired as part of the acquisition of Rugby Architectural Building Products last year. Dallas is a significant market and the addition of Eagle to our existing operations in the region adds customers and bench strength to our team.”
The acquisition was completed through Hardwoods’ subsidiary, Rugby Holdings LLC, and was financed by a draw on the company’s existing credit facility. With it, the sales and assets of Eagle will be consolidated into the existing distribution facility of Rugby in Dallas, Texas.
Hardwoods distributes non-structural architectural-grade building products to commercial and residential clients, while Eagle also supplies similar building products to customers that also distribute end-products to the commercial, retail, industrial, institutional, and residential markets.