Home Depot Acquiring HD Supply Hardware Business
Home Depot will acquire HD Supply Hardware Solutions from its former HD Supply unit for an undisclosed sum, the companies announced Tuesday.
HD Supply Hardware Solutions, based in Aliso Viejo, Calif., is a supplier of business hardware, fasteners, ropes and chains, mainly to Atlanta-based Home Depot, which accounts for 98 percent of the company’s sales.
The HD Supply unit has four distribution centers, including one in Atlanta, and more than 1,000 employees.
HD Supply is among the largest U.S. wholesale distributors of heavy duty, infrastructure, maintenance, repair and specialty construction products. Customers include contractors, home builders, government entities, and professional plumbers and electricians.
Home Depot spun off HD Supply in 2007, with three private-equity firms — The Carlyle Group, Bain Capital and Clayton, Dubilier & Rice — acquiring the company for $8.5 billion. Home Depot retains a 12.5 percent stake in HD Supply, which went public last year.
The deal, which is expected to close by the end of the fiscal year, sent shares of HD Supply Holding Inc. more than 3 percent higher Tuesday on Wall Street.
This article appeared in print in edition of Hamodia.
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