Weekly Industry Insights — 06/07/24
US LBM Acquires RAKS Building Supply
Specialty building materials distributor US LBM has acquired RAKS Building Supply, a building products and manufactured components provider to builders and contractors in central New Mexico. The Los Lunas, N.M.-based RAKS has five lumberyards along with truss-building and window operations. After acquiring RAKS, US LBM now operates 450 locations, including 12 throughout New Mexico. Read more about the acquisition in US LBM’s press release.
Nation’s Best Continues to Expand Eastward with Purchase of Reece’s Building Supply
Nation’s Best added its 58th location with the purchase of Reece’s Building Supply in Narrows, Va. Fitting Nation’s Best’s model of home improvement stores with deep community connections, this acquisition is the second in Virginia. Nation’s Best acquired Patrick Building Supply & Rental in Stuart, Va., in March 2023.
Milwaukie Ace Hardware Opens in Oregon
Milwaukie Ace Hardware hosted a grand opening with ribbon cutting on June 6 with chamber of commerce and local government officials. Located in the Portland metro area, Milwaukie Ace is part of Broadway Hardware Group, which has six locations in Oregon and three in Washington state.
LeNoble Lumber Opens Distribution Center in New Jersey
Seeking to serve a broader customer base throughout the New York City area and beyond, LeNoble Lumber recently opened a new distribution center in Edison, N.J. Based in Long Island City, LeNoble Lumber offers deliveries from Boston to Baltimore. Specializing in lumber, plywood and building materials, LeNoble Lumber has developed a niche of providing materials for the New York City film and television industry.
Kodiak Building Partners Acquires Simonson Lumber
Englewood, Colo.-based Kodiak Building Partners has acquired Minnesota-based Simonson Lumber. Founded in 2011, Kodiak Building Partners specializes in acquiring and supporting locally owned and operated building materials companies. Century Club member Simonson Lumber was founded in 1913 and based in St. Cloud, Minn., with a corporate office, five lumberyard locations and a distribution center. For more information about the acquisition, read Kodiak’s press release.
US LBM Names Tiejema Executive Vice President, CFO
On June 3, US LBM announced it hired Russell Tiejema as executive vice president and chief financial officer. Prior to joining US LBM, Tiejema was executive vice president and CFO with Masonite International Corp., a manufacturer of interior and exterior doors for the residential and non-residential construction, repair, and renovation markets. Tiejema succeeds Patrick McGuiness, who retired from US LBM in 2023. For more about Tiejema and his role with US LBM, see the company’s press release.
