Lowe’s Cos. Inc. (NYSE: LOW) has reached a deal to buy Maintenance Supply Headquarters, a producer of repair and home improvement tools for the multifamily housing sector, for approximately $512 million. Lowe’s will gain 13 distribution centers with the acquisition of the target.
Maintenance Supply Headquarters, founded in 2006, is a Houston-based wholesale supplier. The target’s portfolio of more than 5,300 maintenance, repair and operations (MRO) products include: bath hardware, ceiling fans, ceramic tiles, copper tubes and fittings, faucets, flooring, and window coverings. The company’s distribution centers serve customers in 29 geographic areas covering the western, southeastern and south central U.S. regions.