Porter Hedges LLP is representing Maintenance Supply Headquarters, a leading distributor of maintenance, repair and operations (MRO) products to the multifamily housing industry, in its agreement to be acquired by Lowe’s Companies, Inc. (NYSE: LOW) for a total transaction value of $512 million. The acquisition is expected to be completed in Lowe's second fiscal quarter, following the receipt of regulatory approval and satisfactory completion of customary closing conditions.
Based in Houston, Texas, Maintenance Supply Headquarters operates 13 distribution centers serving customers in 29 geographic areas, primarily in the western, southeastern and south central U.S., with a portfolio of more than 5,300 products and value-added services for maintaining and renovating multifamily properties.
Founded in 1946 and based in Mooresville, N.C., Lowe’s is a FORTUNE 50 home improvement company that operates or services 2,365 home improvement and hardware stores and employs over 290,000 people.
The Porter Hedges team includes Rob Reedy, Craig Bergez, Joe Morrel and Allison Wilbanks, with support from Nick Nicholas, Beverly Young and Kevan Richards.
For additional details about the transaction, please visit the Lowe’s press release here.