ProBuild
| Company type | Private |
|---|---|
| Industry | Building materials and retail |
| Founded | 1997 |
| Successor | Builders FirstSource, Inc. (Nasdaq: BLDR) |
| Headquarters | 7595 Technology Way, 5th Fl. Denver, CO |
Number of locations | 423+ (January 2013)[1] |
Key people | Robert Marchbank CEO |
| Products | Building materials and supplies |
| Revenue |  $3.6 billion (2012) [2] |
Number of employees | 9,223 (2013) [3] |
| Website | www |
ProBuild Holdings was a privately held diversified supplier of lumber and building materials to professional builders and contractors in the United States.[4][5]
Operation
ProBuild was acquired by Builders FirstSource in 2015 resulting in an entity with $6.1 billion combined 2014 revenue. [6]
History
In 1997, Fidelity Capital, the business development arm of Fidelity Investments, acquired the Strober Organization, a supplier of building materials to professional builders and contractors in the Northeast.[7][8] Over the next nine years, Strober acquired additional regional brands, extending its reach to the mid-Atlantic and Southeast markets.
By 2005, Strober had become one of the largest professional building materials dealers in the United States.[9] In 2008, Fidelity Capital purchased Lanoga Corporation,[10] which was, at the time, the nation's third largest professional building materials dealer. Fidelity made the purchase through ProBuild Holdings, Inc., a newly created entity that included the Strober Organization. The Strober Organization was the sixth largest professional building materials dealer in the U.S. at the time.[11] With the purchase of Lanoga, ProBuild's 2006 resources comprised over 420 locations in 38 states with more than 14,000 employees.[12]
The subsequent acquisitions of Hope Lumber and Supply [13] and other lumber suppliers made ProBuild the largest [14] professional building materials dealer in the United States by 2007 with more than 506 locations nationwide.
Following the downturn of the housing market in the United States in 2008, ProBuild consolidated a number of facilities and exited several markets,[15][16] including Chicago[17] and Pittsburgh.[18] As was the case with much of the home building industry, sales fell during the downturn. ProBuild reported just over $3 billion in sales in 2009, down from at 2006 peak of $6 billion.[19] By 2013, the company reported a 9 percent increase in sales from the prior year.[20]
On July 31, 2015, Builders FirstSource acquired ProBuild Holdings LLC, creating a more diversified company with enhanced scale and improved geographic footprint. The combined company, on a pro forma basis, generated over $6 billion in annual revenue in 2015 and currently operates approximately 400 locations in 40 states, with a market presence in 74 of the top 100 Metropolitan Statistical Areas in the United States.[21][better source needed]
References
- ^ 2013 PROSALES 100
- ^ PROSALES 100 Company Rankings 1991 - 2013
- ^ 2013 PROSALES 100
- ^ About ProBuild probuild.com
- ^ Pro-Build Holdings Inc. company overview hoovers.com
- ^ "Builders FirstSource Completes Acquisition of ProBuild". Builders FirstSource, Inc. Retrieved 2019-10-20.
- ^ ProBuild Company History [1],
- ^ Answers.com profile of the Strober Organization
- ^ 2006 PROSALES 100 Company Rankings
- ^ ProBuild Newsroom press release announcing acquisition of Lanoga Corporation [2]
- ^ 2006 PROSALES 100 Company Rankings
- ^ ProBuild Press Room - Press release announcing finalized purchase of Lanoga Corporation [3]
- ^ ProBuild Press Room - Press release announcing purchase of Hope Lumber and Supply [4]
- ^ 2007 PROSALES 100 Company Rankings
- ^ ProBuild Reveals Plans to Shut 12 Facilities - ProSales Magazine
- ^ ProBuild ID's Most of the 20 Yards It Will Close - ProSales Magazine
- ^ ProBuild to Exit Chicago Market - Home Channel News
- ^ ProBuild Withdrawing from Some Eastern Markets - Home Channel News
- ^ ProBuild CEO "Our Sales Will Fall to $3b This Year" - ProSales Magazine [5]
- ^ 2013 PROSALES 100
- ^ [6]