© 2017 The Texas Lawbook.
By Natalie Posgate
(May 19) – Retail home improvement giant Lowe’s Companies said Thursday that it will purchase Houston-based Maintenance Supply Headquarters for $512 million.
A group of Houston lawyers from Porter Hedges advised Maintenance Supply Headquarters, a leading distributor of maintenance, repair and operations products to the multifamily housing industry.
Maintenance Supply Headquarters hired Porter Hedges managing partner Rob Reedy to lead the deal. The corporate deal team also included partners Craig Bergez and Joe Morrel and associate Alison Wilbanks. Corporate partner Nick Nicholas, employee benefits of counsel Beverly Young and real estate partner Kevan Richards were also involved.
The company operates 13 distribution centers serving customers in 29 geographic areas, primarily in the western, southeastern and south central U.S. Founded in 2006, Maintenance Supply Headquarters has a portfolio of 5,300 products and value-added services for maintaining and renovating multifamily properties.
Lowe’s said in a company statement that the transaction is an important step to its strategy to deepen and broaden its relationship with commercial/professional customers and better serve their needs.
Hunton & Williams is advising Lowe’s in the deal. Lowe’s Senior Counsel J. Christopher Lemons was also involved.
For financial advice, Maintenance Supply Headquarters turned to Crutchfield Capital Corporation, while Lowe’s hired Goldman Sachs.
The transaction is expected to close in Lowe’s second fiscal quarter.
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