Business
BuildDirect announces acquisition of Superb Flooring & Design; expanding U.S. Pro market share
BuildDirect announces acquisition of Superb Flooring & Design; expanding U.S. Pro mar...
About this update from Builddirect.com Technologies Inc
[{"type":"text","content":"\n \n \n \n BuildDirect announces acquisition of Superb Flooring & Design; expanding U.S. Pro market share\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n BuildDirect announces acquisition of Superb Flooring & Design; expanding U.S. Pro market share\n \n \n Canada NewsWire\n \n \n \n \n \n Delivering on BuildDirect's strategy to accelerate growth through its leading omnichannel platform by making select, accretive acquisitions\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 17, 2021\n \n /CNW/ - BuildDirect.com Technologies Inc. (TSXV: BILD) (\"BuildDirect\" or \"Company\"), today announced that it acquired\n \n Michigan\n \n -based full-service flooring retailer, Superb Flooring & Design LLC (\"Superb\" or the \"Acquisition\") for a total purchase price of USD\n \n $10 million\n \n . The acquisition closed on the morning of\n \n November 17, 2021\n \n .\n \n \n \n \n \n \n \n \n \n Superb is an established brand name serving Pro builder customers (home builders, condominium developers, commercial and residential contractors, interior designers, architects, and multi-family property managers) across the U.S. mid-West, which when compared with other Pro customer segments tends to be more concentrated, and larger in size and scale. In the period ended\n \n September 30, 2021\n \n Superb generated unaudited revenue of over USD\n \n $18 million\n \n and greater than\n \n $2 million\n \n in EBITDA in the trailing 12 months.\n \n \n Superb's focus on exceptional customer service and over 50 years of collective experience provides BuildDirect with the opportunity to capture additional market share and on-the-ground expertise in serving the Pro customer. The Superb platform represents strong product selection assistance together with reliable project management, and installation services to its builder Pros. Leveraging the synergies available through BuildDirect's digital and supply chain capabilities will advance Superb's ability to serve its existing Pro customers and provides the potential to grow our combined market sha...