"We are thrilled to become part of the Lowe's family and have high regard for the team and the Company's leadership in the home improvement industry. Richard "Rusty" Penick, Co-founding, Partner, and CEO of Maintenance Supply Headquarters, added: "Together, Maintenance Supply Headquarters and Central Wholesalers will expand our capabilities in serving this key segment while strengthening our platform for future growth with enhanced product and service offerings for MRO customers." Maltsbarger, Chief Development Officer and President of International said: He has been tasked with the strengthening and expanding Lowe's relationship with professional customers.Ĭommenting on the acquisition, Richard D. He will also be heading Lowe's Pro Services business and Alacrity Services, a leading supplier of home restoration and repair services. Once the transaction is completed, Mike Tummillo, Lowe's Senior Vice President of Pro Sales, will be in-charge of Maintenance Supply Headquarters and Central Wholesalers. ![]() The transaction is expected to be accretive to Lowe's earnings in fiscal 2017 ending in February 2018. The transaction is expected to close in Q2 FY17 which ends in July 2017 subject to regulatory approvals and closing conditions. The finer details of the acquisition have not been shared by any of the Companies. The Company's sales for the fiscal year 2016 were $65 billion. Lowe's and its related businesses operate or service 2,365 home improvement and hardware stores and employ over 290,000 people. Lowe's was founded in 1946 and is a home improvement Company and serves over 17 million customers a week across the United States, Canada, and Mexico. Get all of our free blog coverage and more by clicking on the link below: Today, AWS is promoting its blog coverage on LOW touching on LL. AWS will be initiating a research report on Lumber Liquidators in the coming days. (NYSE: LL), reported on financial results for the Q1 ended March 31, 2017. One of Lowe's Cos.' competitors within the Home Improvement Stores space, Lumber Liquidators Holdings, Inc. ![]() Register with us now for your free membership and blog access at: The acquisition will allow Lowe's to expand its client base by targeting construction contractors and professional customers. ![]() (NYSE: LOW) as the Company announced on May 18, 2017, that it had acquired Houston, Texas based Maintenance Supply Headquarters (MSH) for $512 million. blog coverage looks at the headline from Mooresville, North Carolina based Lowe's Cos. LONDON, UK / ACCESSWIRE / / Active Wall St. Upcoming AWS Coverage on Lumber Liquidators Holdings Post-Earnings Results
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