Raleigh, N.C.–based Stock Building Supply announced April 21 that it has acquired Davidson Industries. Franklin, Ind.–based Davidson has two locations, annual sales of $65 million, and 327 employees.
The acquisition moves Stock into the Indianapolis market and also links up existing Stock branches in northern and southern Indiana. “Davidson is an attractive addition because of its consistent market and customer base, and the opportunity to expand further across Indiana,” Stock president and CEO Fenton Hord said in the announcement. “Annual housing starts in the Davidson market have exceeded 13,000 since 2000 and are estimated to remain in excess of 13,000 for the next four years despite projected slowdowns in other parts of the United States.” According to the company, operations will remain the same and key Davidson employees will remain on board.
The largest pro dealer in the country, Stock Building Supply has 240 locations and had fiscal year 2004 sales of $3.6 billion.