Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Distributor Service, Inc. (“DSI”) with respect to its sale to Hood Industries, Inc. (“Hood”). Terms of the transaction were not disclosed.
Founded in 1968, DSI is a one-stop-shop provider of architectural wood and specialized building products for the woodworking industry. The Company supplies cabinet makers, furniture builders, commercial casework shops, architectural millworkers, RV manufacturers, window manufacturers, and other OEMs. DSI is headquartered in Carnegie, Pennsylvania and has eight locations in the midwestern United States.
Bill Delaney, Chief Executive Officer of DSI shared, “Over the years, prospective buyers have contacted me and I considered going through the sale process alone. Not realizing the magnitude of the selling process, I am glad I hired Confluence to help me navigate through the complexities of an acquisition of this size. Due to Confluence's years of experience, they were able to provide their expertise and professional guidance to help create a positive outcome for both DSI and Hood, which, in the end, resulted in a great partnership between the two companies, allowing us to get off on the right foot and hit the ground running after close.”
Hood Industries, Inc. owns and operates lumber and plywood manufacturing mills in Mississippi, and Louisiana, and sixteen distribution operations located in thirteen states serving the northeastern, southeastern and southwestern United States and specializes in hardwood lumber, hardwood plywood, millwork, and other specialty building products including architectural panels, high performances surfaces, polymer sheets, composite decking, hardware and other supplies to the cabinetry industry, millwork shops, industrial users and retail lumber yards. Hood is a wholly owned subsidiary of Hood Companies, Inc. Hood Companies is a privately owned, closely held holding company and is the parent to operating subsidiaries involved in the manufacture and distribution of forest and wood products, building and construction materials, and flexible and corrugated packaging products throughout North America.
Jay Galloway, President of Hood Industries, commented: “The DSI transaction offered an excellent opportunity to expand Hood’s geographic footprint with an acquisition of a highly respected, specialty building products distributor having a long history of serving an important geographic area. Bill Delaney and his team have a well-established reputation for exceptional customer service and strong relationships in the industry. We quickly discovered that DSI and Hood share similar cultures and values that make the two an excellent fit, and we are excited to have DSI become an integral part of Hood’s long-term success through a continued commitment to our employees, customers, suppliers.”
About Confluence Advisors, LLC
Confluence Advisors helps business owners maximize the sale of a business, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $2 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions.