Ken’s Blog: To those about to merge, we salute you
It’s one thing to write a headline for an acquisition.
It’s another thing entirely to attend a company-wide meeting at 11:00 a.m. in the large conference room (with remote employees on the phone) and hear the announcement that the company has been sold, and that the transition is under way.
That scenario – sometimes exactly like that, sometimes with variations – is playing out with increasing frequency in the hardware and building supply industry. Since the previous issue of HBSDealer went to print, at last 17 different acquisitions have been reported in the hardware and building supply space. Among them, AZEK bought Versatex; US LBM Holdings bought R&K Building Supplies; and Kodiak Building Partners’ bought both Builders Millwork and Forest Tek Lumber.
Actually, make that 18. In late June, HBSDealer and its sister brands owned by Lebhar-Friedman, Inc., were sold to EnsembleIQ. We want everyone to know that this is good news for us, good news for our readers and good news for our customers. Consider this: HBSDealer is now part of the largest collection of editorial staffs focused on retail, hospitality and healthcare anywhere in corporate America. And we intend to take advantage.
Ensemble IQ also brings digital media expertise, and an association with the Path to Purchase Institute that leads the league in shopper marketing information. In a world of blurring retail channels and in industries where a high premium is placed on data and actionable business intelligence, this merger gets us excited.
In covering mergers and acquisitions, we often hear about the importance of aligned values, of shared strategies, and of shared visions. So how’s this for top management agreement:
First, my new boss: “We’re thrilled to have these iconic brands and talented employees join the EnsembleIQ family,” said David Shanker, CEO of EnsembleIQ. “Adding chain drug, hardware and store-operations reach and expertise provides our collective subscribers and customers with a comprehensive view of retail insights and information throughout the United States and Canada.”
And here’s my old boss: “The company that my grandfather Arnold founded and my father Roger ran for many years has always been focused on the retail industry,” said Randall Friedman. “The fact that EIQ also has great brands and deep expertise in retail makes me very optimistic that the LF roots will continue to grow and bear fruit in the years to come under EIQ’s stewardship.”
As I’m typing this essay, an email pings me with news that Environmental Stoneworks has acquired Brockmeyer Quality Stone. So the count is now up to 19.
To those about to merge, we salute you. We’re with you.
It’s another thing entirely to attend a company-wide meeting at 11:00 a.m. in the large conference room (with remote employees on the phone) and hear the announcement that the company has been sold, and that the transition is under way.
That scenario – sometimes exactly like that, sometimes with variations – is playing out with increasing frequency in the hardware and building supply industry. Since the previous issue of HBSDealer went to print, at last 17 different acquisitions have been reported in the hardware and building supply space. Among them, AZEK bought Versatex; US LBM Holdings bought R&K Building Supplies; and Kodiak Building Partners’ bought both Builders Millwork and Forest Tek Lumber.
Actually, make that 18. In late June, HBSDealer and its sister brands owned by Lebhar-Friedman, Inc., were sold to EnsembleIQ. We want everyone to know that this is good news for us, good news for our readers and good news for our customers. Consider this: HBSDealer is now part of the largest collection of editorial staffs focused on retail, hospitality and healthcare anywhere in corporate America. And we intend to take advantage.
Ensemble IQ also brings digital media expertise, and an association with the Path to Purchase Institute that leads the league in shopper marketing information. In a world of blurring retail channels and in industries where a high premium is placed on data and actionable business intelligence, this merger gets us excited.
In covering mergers and acquisitions, we often hear about the importance of aligned values, of shared strategies, and of shared visions. So how’s this for top management agreement:
First, my new boss: “We’re thrilled to have these iconic brands and talented employees join the EnsembleIQ family,” said David Shanker, CEO of EnsembleIQ. “Adding chain drug, hardware and store-operations reach and expertise provides our collective subscribers and customers with a comprehensive view of retail insights and information throughout the United States and Canada.”
And here’s my old boss: “The company that my grandfather Arnold founded and my father Roger ran for many years has always been focused on the retail industry,” said Randall Friedman. “The fact that EIQ also has great brands and deep expertise in retail makes me very optimistic that the LF roots will continue to grow and bear fruit in the years to come under EIQ’s stewardship.”
As I’m typing this essay, an email pings me with news that Environmental Stoneworks has acquired Brockmeyer Quality Stone. So the count is now up to 19.
To those about to merge, we salute you. We’re with you.