Business
BuildDirect Announces Closing of Tile Outlet of America Acquisition and Provides Preliminary Unaudited Results for First Quarter of 2026
Acquisition strengthens Florida footprint and expands omnichannel platform with expected Adjusted...
About this update from Builddirect.com Technologies Inc
[{"type":"text","content":"BuildDirect Announces Closing of Tile Outlet of America Acquisition and Provides Preliminary Unaudited Results for First Quarter of 2026Acquisition strengthens Florida footprint and expands omnichannel platform with expected Adjusted EBITDA accretion and cost synergies.Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - BuildDirect.com Technologies Inc. (TSXV: BILD) (OTCQB: BDCTF) (\"BuildDirect\" or the \"Company\"), a leading omnichannel flooring materials retailer, today announced that it has completed the acquisition of substantially all of the operating assets of Tile Outlet of America (\"TOA\"), a Florida-based specialty tile retailer. The acquisition expands BuildDirect's retail, distribution, and e-commerce presence across the Southeastern United States and represents another step in the Company's strategy of building a scaled North American omnichannel flooring and building products platform.TOA operates three retail showrooms in Tampa, Sarasota, and Fort Myers along Florida's west coast, serving homeowners, contractors, and design professionals throughout the Southeastern United States. BuildDirect expects the acquisition to strengthen its regional density, improve operating leverage, and enhance customer acquisition opportunities across its Pro, Retailer, and Homeowner programs.Total estimated net purchase consideration is approximately US$3.7 million, comprised primarily of acquired inventory and fixed assets, net of assumed liabilities and certain post-closing adjustments. The transaction includes a customary 5% holdback, with final purchase consideration remaining subject to customary post-closing working capital adjustments. TOA generated unaudited annual sales of approximately US$19.5 million for the year ended December 31, 2025. The acquisition was structured as a cash-free, debt-free asset purchase and will be funded by the Company using cash on hand. The acquisition is expected to be accretive to Adjusted EBITDA and strengthen BuildDirect's overall business. In addition, management has identified significant cost synergies to be implemented, including corporate and back-office consolidation, real estate optimization, supply chain efficiencies, and integration into BuildDirect's technology platform. Consistent with the Company's broader operating model, management believes TOA has the potential to pr...