Do it Best wins 'Deal of the Year' award
Do it Best was named the recipient of the Association for Corporate Growth (ACG) 2024 Deal of the Year Award (Large Cap) for the state of Indiana. The award recognizes the successful acquisition of True Value Company, which sent shockwaves through the hardware and home improvement industries. The award was presented at the ACG Annual Awards event, which was held on Thursday, April 17, 2025, at the Ritz Charles Garden Pavilion in Carmel, Indiana.
The acquisition, which closed on November 22, 2024, involved the purchase of substantially all of the assets and operations of True Value. The deal was executed under Section 363 of the Bankruptcy Code and was hailed by ACG as a model of corporate resilience and strategic foresight. The deal, according to Do it Best, preserved nearly 2,000 jobs, maintained the brand identity of over 4,500 True Value retail stores worldwide, and enabled independent retailers to continue sourcing products from their supplier.
The acquisition not only represented one of the most significant corporate deals in the state of Indiana but also nearly doubled Do it Best’s employee base and retailer network overnight. Do it Best says it was Indiana’s largest privately held company by gross revenue in 2024.
“This recognition by ACG was a testament to the dedication and hard work of our entire team, along with our strategic partners, who navigated a complex and challenging acquisition process,” said Dan Starr, the company’s CEO. “This deal was a win for the Do it Best and True Value teams, and for the thousands of independent retailers who rely on our products and services.”
The acquisition was the result of challenging negotiations with True Value’s secured lenders, who initially sought a liquidation of the True Value enterprise. According to Do it Best, the transaction not only saved the business but delivered more net proceeds to the secured lenders than they had originally demanded.
The legal and financial teams behind the deal, including Do it Best’s advisors from Taft Stettinius & Hollister LLP and Stout Capital, and True Value’s advisors from Skadden, Arps, Slate, Meagher & Flom LLP and Houlihan Lokey, played an instrumental role in the successful closure of this acquisition.
