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For Immediate Release pam.rak@mktgcommunications.com
SMITTY’S BUILDING SUPPLY TO ACQUIRE SHELTER SYSTEMS
Media Contacts :
Pam Montano
703.704.5509
pmontano@smittys.com
Pam Selker Rak
412.221.4550
Acquisition Strategy Fuels Smitty’s Competitive Advantage in LBM Market MANASSAS, VIRGINIA, AUGUST 7, 2006 – Smitty’s Building Supply, Inc. ( www.smittys.com ), one of the largest lumber/building material (LBM) distributors in the northern Virginia and metropolitan DC region, announces it has reached an agreement to purchase the assets of Shelter Systems, based in Manassas, Virginia.
Founded in 1994 by John Gendreau, Dan Tracy and Stanley A. Owens, Jr., Shelter Systems has grown to over 250 customers with a high level of expertise in Andersen Window sales and installation, fencing and flooring products and installed framing packages. Its expertise in sourcing is so vast that customers like Seawood Homes source 100% of their material needs for their housing developments from Shelter Systems.
“The acquisition strengthens Smitty’s marketplace platform by opening new lines of business and creating significant opportunities for the company,” said Rick Smith, president & CEO of Smitty’s Building Supply. “Shelter’s customer base, the expertise of its installation services, and the quality and experience of its employees will augment Smitty’s current strengths in the LBM market. We are fortunate to acquire such a well-managed business and look forward to providing enhanced resources for the Shelter Systems team to continue the growth they have enjoyed over the past many years.”
Smith indicated that the Shelter Systems acquisition is just one of several planned for Smitty’s Building Supply over the next two years, as the company continues to develop a business model that expands its delivery of a full range of LBM products and services to its fast-growing customer base.
According to John Gendreau, president & CEO of Shelter Systems, “Our vision for Shelter Systems has always been to be a premier provider to the LBM marketplace. The time is right to integrate our vision with a larger LBM distributor such as Smitty’s. Becoming part of the Smitty’s franchise provides a greater opportunity for the Shelter Systems’ team to offer customers a much broader selection and more aggressively priced package of products and services.”
Gendreau will join Smitty’s executive team as senior vice president of the Shelter Systems Division. He will report to Don Belt, Smitty’s executive vice president and chief operating officer. All Shelter System employees will be integrated into positions in either the new Shelter System Division or in Smitty’s operations, headed by Dave Weldon, senior vice president of operations.
“John Gendreau will be a significant asset to the Smitty’s team, primarily responsible for sales and profits of the new Shelter System Division,” said Belt. “We look forward to working with John and his team, as they collectively bring an excellent reputation, leadership and knowledge of the LBM industry.”
Shelter Systems is located in close proximity to Smitty’s headquarters in Manassas, and therefore, the operations will be easily integrated into one operation. Shelter’s building and facilities will be utilized as the ‘will call’ center for all of Smitty’s and Shelter’s customers.
The acquisition is expected to be completed in October 2006 after Smitty’s completes its due diligence and plans the detailed integration of the two businesses. According to Belt, “We expect the completion of the acquisition to be both timely and seamless, particularly for Shelter Systems’ customer base.”
About Smitty’s Building Supply, Inc.
Smitty’s Building Supply, Inc., founded in 1975 by Pat and Nelson Smith, is one of the largest lumber/building material (LBM) distributors in Northern Virginia and the metropolitan DC region. Smitty’s sales topped $100 million in 2006, earning its rank as the 87 th largest LBM supplier in the US and one of the fastest-growing companies in the LBM industry in the US and of all types of businesses in the DC metropolitan region. Smitty’s services more than 1,500 builders, remodelers, do-it-yourselfers, contractors, and commercial accounts. Smitty’s offer a full range of LBM products and services, including engineered wood floor systems, MRO supplies and window sales and installation through its upscale WindowSmith showroom.
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