New South Construction Supply acquires Malone Steel
New South Construction Supply, LLC (NSCS) announced that it has acquired Malone Steel Corporation, based in Ponte Vedra Beach, Fla.
With this acquisition, the combined company will provide a one-stop shop for concrete and masonry construction customers in the North and Central Florida markets, NSCS said.
The acquisition was cemented on Nov. 1. Financial terms were not disclosed. Malone Steel will now operate as New South Construction Supply – Ponte Vedra. This marks NSCS’s 2nd location in Florida and 11th overall.
Jeff Malone, President of Malone Steel, will remain with the organization and will focus on providing best-in-class sales and service to Malone’s customer base as well as to New South customers.
Malone will also continue to oversee the day-to-day operations of the business, NSCS said.
Malone Steel has served contractors throughout the North Florida market for almost 30 years.
“We share the same core values of providing best-in-class service to our customers, providing significant growth opportunities to our Associates, and delivering exceptional value,” said Jim Sobeck, CEO of New South Construction Supply
With a total of 11 locations from North Carolina to Florida, NSCS said the latest addition solidifies the company’s position in the North and Central Florida markets by enhancing New South’s fabricated rebar capabilities, establishing a Florida-based tilt-up rental yard.
This move also provides Malone’s established customer base to have a one-stop shop for all concrete and masonry products.
“Together, we are confident we will provide a great platform of growth for our associates, more opportunities for our vendor partners, and most importantly – deliver even more value to our customers,” said Abhi Singh, COO and EVP of New South Construction Supply.
Commenting on this acquisition, Jeff Malone, CEO added, “When we decided to sell our business, we were committed to finding a partner with the right culture, and one that was committed to taking care of our customers, as well as our employees. Once we met the New South team, it was clear that they were the perfect fit for us.”
New South Construction Supply is a distributor of construction products to general contractors and subcontractors across the Sunbelt as well as nationally and internationally.
Based in Greenville, S.C., the company specializes in concrete and masonry accessories, rebar and wire mesh, tilt-up construction, waterproofing materials, and other building products for both commercial and residential construction.
