True Value Deal, Leadership Updates throughout the Industry, Award for Orgill Director of Cybersecurity
True Value Strikes Deal to Fund Chapter 11 and Expedite Sale to Do it Best
True Value has reached an agreement with lenders to avoid liquidation and fund its Chapter 11 reorganization, with Do it Best Corp. as the stalking-horse bidder for a $153 million acquisition. This deal, announced at a Delaware hearing before U.S. Bankruptcy Judge Karen Owens, resolves cash collateral objections raised by PNC Bank and ensures $163 million will be paid to pre-petition lenders. With plans for an auction on November 11 and a sale closing by November 22, this development shifts the company’s trajectory from a potential liquidation to an expedited sale, securing its future and protecting jobs. See Hardware Connection’s full news story here.
Orgill’s Kim Named Top Global CISO by Cyber Defense Magazine
Orgill’s Director of Cybersecurity, Peter Kim, has been recognized as one of Cyber Defense Magazine’s Top Global CISOs for 2024. This prestigious award, with thousands of candidates vying for the honor, highlights leaders who excel in innovation, board communication, breach prevention, regulatory compliance, and risk management. Kim’s achievement underscores his exceptional leadership and contributions to Orgill’s cybersecurity initiatives, according to Earl Bernard, Orgill communications director.
Smith Appointed Executive Director of Do it Best Foundation
Do it Best has named Curtis Smith as the new executive director of the Do it Best Foundation, effective immediately. Smith, with extensive experience in marketing, communications, and community engagement, previously held roles at Lasting Change Inc. and Parkview Health. Known as a former local chief meteorologist, Smith’s leadership will enhance the Foundation’s reach, supporting key community needs like housing stability and healthcare access. Smith will also oversee major upcoming events, including Cookin’ Fort Wayne and the 5th annual Fore the Cause charity golf tournament. He succeeds Randy Rusk in this role. For more information, visit Do it Best’s press release.
Lovett Joins SPAX as Territory Rep for Southwest and Southeast
SPAX® Engineered Fasteners, part of Altenloh, Brinck & Co. US, welcomes Corey Lovett as a territory representative. Based in Grand Prairie, Texas, Lovett will oversee Texas, Oklahoma, New Mexico, Arkansas, and Tennessee. Bringing over a decade of expertise in account management and sales, Lovett has a background including relationship-building and brand growth skills. His addition aims to bolster SPAX’s industry leadership and expand market presence. Learn more about SPAX here.
R.P. Lumber to Acquire Guyot Lumber
Edwardsville, Ill.-based R.P. Lumber Co., a 2023 Beacon Award winner, is set to acquire Guyot Lumber in Perryville, Mo., marking its eighth acquisition this year and first in Perry County. The move will establish R.P. Lumber’s 88th location and its 21st in Missouri. Guyot Lumber, a family-owned business since its founding by WWII veteran Merlin “Mertz” Guyot, has served Perryville for decades, primarily catering to pro contractors and DIY homeowners. R.P. Lumber’s President and CEO, Robert Plummer, praised the Guyot family’s legacy and said they look forward to seamlessly integrating their team into the R.P. Lumber family. For more information, visit R.P. Lumber’s press release.
TAL Building Centers Names Gregory as Vice President of Operations–East
TAL Building Centers, a family-owned building materials provider in the Pacific Northwest, has appointed Gaven Gregory as vice president of operations-East. Gregory, who has extensive experience in retail and business operations from his leadership roles at Valley Wide Cooperative, True Value, and The Home Depot, will oversee operations in eastern Oregon, Montana, and Idaho. TAL CEO Jason Blair highlighted Gregory’s proven success in scaling businesses and leading high-performance teams, emphasizing the value he brings to the company’s future growth. Gregory holds an MBA from Emory University and a BS in business administration from USC.
Bliffert Lumber’s Hegeman joins Board of Directors for BLD Connection, NLBMDA
Chris Hegeman, manager of Bliffert Lumber, has been elected to the board of directors of BLD Connection as the NLBMDA Representative for 2024-2027 and was also installed on the NLBMDA board in October. With seven years of leadership at BLD Connection–Wisconsin, Hegeman brings extensive experience and dedication to advancing the lumber and building materials industry. BLD Connection President Cody Nuernberg praised Hegeman’s commitment and broad perspective, while Eli Bliffert of Bliffert Lumber expressed pride in Hegeman’s achievements. Hegeman succeeds Brett Hanson, who served in the role for five years. For more information, see this press release.
