ProSource LLC, a provider of construction materials and supplies based in the United States, acquired Huber Supply, a distributor serving the Southeastern U.S., according to an announcement on April 5, 2023.
| Deal-at-a-Glance | |
| Acquirer: | ProSource LLC (US) |
|---|---|
| Target: | Huber Supply (US) |
| Value: | Undisclosed |
| Type: | Acquisition |
| Closed date: | April 5, 2023 |
| Announced date: | April 5, 2023 |
The acquisition is aimed at expanding ProSource's product offerings and geographic reach in the Southeastern United States.
Deal Mechanics
No specific financial terms were disclosed for the transaction. The deal was announced on April 5, 2023, with the closing date also set for that day.
Strategic Rationale
The acquisition of Huber Supply by ProSource aligns with the company's strategic objective to strengthen its presence in the Southeastern U.S. market and broaden its product range within the construction materials sector.
Financial Context
No financial details regarding the transaction value or key terms were provided by either party. The companies have opted not to disclose buy-side or sell-side advisors, legal counsel for either side of the deal, nor any specific financing arrangements.
Advisors
The deal was announced without providing information on financial advisors or legal counsel involved in the transaction.
Outlook
With this acquisition, ProSource aims to fortify its position as a leading supplier of construction materials and supplies across the Southeastern United States, leveraging Huber Supply's distribution network and market knowledge.