Hughes Supply
From Wikipedia, the free encyclopedia
Hughes Supply Incorporated is a very large wholesaler of construction supplies operating in 40 of the United States and two Canadian Provinces. Its major operation is in the Southeast and Southwest of the United States. Its primary clients are professional customers, who mainly buy in bulk.
Hughes operates through three business segments: Electrical and Plumbing (electrical and electric utility products, HVAC products), Water & Sewer/Building Materials (water and sewer products, building materials, maintenance supplies, fire protection products, concrete products), and Industrial (industrial pipes, valves, and fittings).
Using acquisitions to fuel its growth geographically and expand its product breadth, in 2004 Hughes Supply acquired Las Vegas-based Standard Wholesale (plumbing and electrical supplies), Todd Pipe & Supply (one of the largest independent plumbing supply wholesalers in the Las Vegas and southern California markets) and Southwest Power/Western States Electric (utilities).
In January of 2006, Home Depot announced that it was acquiring Hughes Supply in a $3.2 billion deal. Hughes Supply was integerated into the Home Depot division known as HD Supply.
Thereafter in June 2007, Home Depot sold their supply unit for 10.3 billion, to a consortium of three private equity firms, The Carlyle Group, Bain Capital and Clayton, Dubilier and Rice (with each agreeing to buy a one-third stake in the division). Home Depot sold their wholesale construction supply business, HD Supply to fund a stock repurchase estimated at $40 billion
