Two Atlanta-based building supply businesses, with several Florida branches, have combined and are preparing for additional growth opportunities in the state’s thriving construction economy.
Mitch Hires, CEO of Construction Resources, says the company currently has eight Florida locations. The new entity is a “merger of equals” between Construction Resources, Inc., and Builder Specialties, Inc., he said.
“Together, we will provide builders, designers, remodelers, general contractors, property managers, and retail consumers with a ‘one stop shop’ for all major speciality building products, along with best in class installation and aftermarket services,” Hires said in a news release.
In an interview, Hires said the company has several divisions, representing 55 brands across nine product categories, including appliances, countertops, garage doors, hearth products, tile and flooring glass and mirror, lighting, cabinets and specialities.
“We’re definitely seeing strong organic growth in Florida, as well as strong acquisition opportunities,” he said. Once the companies complete their integration, “we’ll get a bit more focussed on expansion plans.”
“I would like to reiterate how bullish we are on the Florida market,” he said. “We’re very confident in the return of the single and family and multifamily housing industry. Florida suffered through the (recent) downturn. It’s exciting to see how it is bouncing back and the continued activity and continuing growth of the state.”
Hires said overall, the business grew 18 per cent in 2015 and expects a growth of 10 per cent in 2016, based on annual revenues greater than $200 million in the four states where the business operates including Florida, Alabama, Georgia and South Carolina. Florida has a leading place in the multi-family segment, he said.