True Value Sale, Carter Lumber Expansion, and Much More Industry News
Judge Presses True Value, Do it Best, and PNC Bank to Settle Dispute
The potential sale of True Value to Do it Best has encountered a challenge as the court urged key parties, including True Value, Do it Best, and PNC Bank, to settle their differences. During an emergency conference, Judge Karen Owens emphasized the need to avoid a costly legal dispute, stressing that True Value must provide adequate protection to its creditors, a legal requirement under bankruptcy law. PNC Bank, a major lender, has objected to using its cash collateral for the sale, citing concerns about financial losses. The judge’s remarks underscore the importance of resolving these issues promptly to ensure a smoother sale process and avoid further complications. For more, see Hardware Connection’s news article.
Carter Lumber Acquires Townsend Building Supply, Expanding in the South
Carter Lumber, the fifth-largest building materials supplier in the United States with more than 180 locations across 15 states, has acquired Townsend Building Supply, which operates six locations in southern Alabama and the Florida Panhandle. The acquisition aligns with Carter Lumber’s strategy to expand in the South. “Florida and Alabama have been in our sights for years as part of our strategic southern expansion. With Townsend’s established presence and solid reputation, we’re able to hit the ground running in both states,” said Carter Lumber President/COO Jeff Donley. Townsend Building Supply, which received the 2023 Beacon Award for Best New Store, will retain its brand while benefiting from Carter Lumber’s increased capital and industry connections. The companies will integrate operations over the next year. For more information, see Carter Lumber’s announcement.
Successful 2nd Annual Women’s Leadership Retreat in LBM Industry
The 2nd annual Women’s Leadership Retreat for the lumber and building materials (LBM) industry celebrated a 50 percent increase in attendance, welcoming store and assistant managers. Held at Lucky Arrow Retreat in Dripping Springs, Texas, the event emphasized leadership development, wellness, and fostering professional growth. With women holding 35 percent of store management and 33 percent of executive roles, the retreat underscores the ongoing commitment to gender diversity in LBM. Sponsors included Specialty Building Products, Milwaukee, and Simpson Strong-Tie, and the retreat continues to grow the pipeline of female leadership in the industry.
Nick Christ Joins Hancock Lumber as Brunswick GM
Hancock Lumber has appointed Nick Christ as the new general manager of its Brunswick location. Christ brings nearly 30 years of industry experience, previously working at Home Depot, where he rose from retrieving carts to managing stores in Rockland and South Portland. He succeeds Rob Riley, who moved to the Saco GM position. As GM, Christ will oversee daily operations and contribute to a major redevelopment project at the Brunswick site. The project includes a new 30,000-square-foot store, expanded millwork warehouse, indoor lumberyard, and other upgrades to improve site functionality and customer experience. For more information, read Hancock Lumber’s press release.
Ace Hardware’s Kim Lefko Discusses Keys to Effective Senior Leadership
In an interview with Authority Magazine, Kim Lefko, chief marketing officer of Ace Hardware, shares her insights on leadership and success in the C-suite. She outlines five key principles for thriving as a senior executive, emphasizing the importance of authenticity, adaptability, and empowering teams. Lefko also discusses her journey in marketing and retail, offering advice for aspiring leaders on overcoming challenges and fostering a positive work culture. Her insights highlight the value of strategic thinking and effective communication in driving company growth. Read the full interview here.
Great Northern Equipment Adds Compact, High-Performance MiniTrencher Tools
Great Northern Equipment (GNE) has expanded its product lineup by introducing two tools from MiniTrencher: the GeoRipper and the SiBore Drill. The GeoRipper offers powerful performance with a compact design, capable of trenching up to 27 inches deep. Ideal for applications such as irrigation and underground installations, it provides efficiency and precision. The SiBore Drill complements this with its waterless horizontal boring technology, making it perfect for plumbing and electrical tasks. Both tools are compact, portable, and designed to handle challenging job site conditions. For more information, visit Great Northern Equipment’s site.
Epicor Acquires Acadia Software to Expand Digital Tools for Frontline Workers
Epicor has acquired Acadia Software, a company specializing in Connected Worker solutions for manufacturing and supply chain sectors. The acquisition aims to integrate Acadia’s platform with Epicor’s enterprise software, offering real-time data and task management tools to frontline workers. Epicor CEO Steve Murphy emphasized that this move will enhance productivity by equipping workers with digital resources to improve efficiency and safety. Acadia’s technology supports skills development and continuous improvement, aligning with Epicor’s broader goal of optimizing business operations. Financial terms of the deal were not disclosed. For more information, visit Epicor’s press release.
Mohan Appointed Chief Digital & Technology Officer at The AZEK Company
The AZEK Company, a manufacturer of sustainable outdoor living products like TimberTech Decking and StruXure pergolas, has named Rakesh Mohan as chief digital & technology officer. Mohan, with more than 25 years of experience in digital transformation, will focus on advancing AZEK’s technology capabilities to drive growth and innovation. “Together, we will continue to differentiate ourselves as the leader in the industry,” said Mohan, who previously served as CIO at Lennox International, leading major IT initiatives across manufacturing and digital channels. For more information, visit AZEK’s press release.
