March 7, 2007 - HD Supply Buys Carolinas Distributor
Technically speaking, White Cap Construction Supply Inc., an HD Supply subsidiary, bought GSI General Materials, a distributor of concrete accessories, forming systems and fabricated rebar. GSI operates four locations in North and South Carolina.
No terms of the deal were disclosed, but an investment banker involved in the deal noted the importance of the locations.
In a Business Journal of Milwaukee news article, Tammie Miller, Grace Matthews, Milwaukee, noted that the Carolina locations provide outlets where Home Depot Supply did not have coverage from its Hughes or White Cap centers. Milwaukee-based investment bank Grace Matthews advised GSI’s former owner, Geo-Synthetics, a Waukesha, Wis., distributor of erosion control products on the transaction.