ABC Supply to Acquire Bradco
Bradco Supply Corp. has signed a definitive agreement to be acquired by ABC Supply Corp. The combined companies will create one of the country's largest distributors of exterior building products with 479 locations in 45 states and the District of Columbia.
The acquisition is the largest in ABC’s history, offiicals note, and the first large acquisition since the death of co-founder Ken Hendricks in 2007. “The acquisition of Bradco continues the dream that Ken and I both shared since the company’s founding in 1982,” says Diane Hendricks, ABC Supply’s owner, co-founder and chairman of the board. “I believe that this is the ideal time for this acquisition as it establishes a strong foundation for our next phase of growth.”
“Since its founding by Barry Segal in 1966, Bradco has been recognized for world-class customer service," states David Luck, ABC Supply's president and CEO. "We feel fortunate and appreciative to have the opportunity to bring its 129 branches together with ABC Supply. We look forward to welcoming the Bradco team into the ABC family. We are confident that this combination will greatly improve our customer service and create enhanced opportunities for both companies’ associates.”
With sales of more than $4 billion, the newly-combined company will be better positioned to partner with its vendors and service the needs of its customers, state officials of Advent International. Advent, a Boston-based private equity firm, says it will remain an investor in the new company.
Based in Beloit, Wis., ABC Supply operates about 350 locations in 45 states. Founded in 1982, it reported sales of about $2.6 billion in 2009. ABC distributes windows and doors from Atrium, Kolbe & Kolbe, MI, Silver Line, Simonton, Therma Tru, Vinylmax and Weather Shield. It also manufactures vinyl windows under the Amcraft Building Products name.
Bradco, based in Avenel, N.J., sells windows and doors from Andersen, Custom Window Systems, Ply Gem, Simonton, Therma-Tru, Velux, Wincore and WinDoor. It operates about 130 locations and reported 2009 sales of about $1.5 billion.
The boards of both companies have approved the purchase and expect it to close by the end of June. The transaction is subject to regulatory approvals.