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The Atlanta Journal-Constitution
Published on: 03/31/08
Atlanta-based HD Supply has bought D&M Fabrication Inc. in Lodi, Calif.
D&M has about 30 employees and serves Northern California. Terms of the sale were not disclosed.
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D&M designs and installs sprinkler systems, and will become part of HD Supply's Waterworks division, with 260 branches in 41 states.
The purchase is part of HD Supply's planned buying spree to fuel its growth in the heavy duty construction and supply industry.
HD Supply's 2008 revenues are approaching $11 billion, according to CEO Joe DeAngelo, making it the second-largest privately held Georgia company by revenue.
D&M is HD Supply's first acquisition since breaking off from The Home Depot in 2007.
HD Supply was purchased last year by three private equity firms. Because the sale price for HD Supply dropped from $10.3 billion to $8.5 billion, DeAngelo says the company has a lot of "headroom" to grow through acquisitions.
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