Hardwoods Distribution Inc. (“HDI”) has, through its subsidiary Hardwoods Specialty Products US LP (“Hardwoods”), purchased substantially all of the assets and assumed certain liabilities of Diamond Hardwoods (“Diamond”) for a total value of $3 million, subject to final working capital adjustments. Diamond will operate under the Hardwoods brand name going forward.
Diamond is a wholesale distributor with locations in Fresno and Bakersfield, California. With estimated annual sales of $6 million, Diamond distributes architectural building products to contractors, industrial manufacturers, and retail customers.
The transaction purchase price was financed by a draw on the company’s existing US credit facility.
HDI is North America’s largest distributor of architectural grade building products to the residential and commercial construction markets.
