Home Depot, the Atlanta-based home improvement chain, has purchased a Texas company.
U.S. Home Systems provides closet and garage organizational systems and kitchen and bath refacing products and services exclusively to Home Depot.
The acquisition — for about $93 million — is part of Home Depot's push to improve its home service offerings. The company earlier this year acquired a business called MeasureComp that provides measurements and quotes for flooring.
In a research note, Wayne Hood, managing director for equity research at BMO Capital Markets, said home services are a $2.9 billion business for Home Depot. The purchase could allow Home Depot to expand U.S. Home Systems' processes to areas beside kitchens and bathrooms, Hood said in the note.
U.S. Home Systems is based in Irving, Texas, and has more than 1,000 employees. The purchase is expected to close by the end of the year.
