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BMC West Sells Colorado Business Units
BMC West Corp. has sold three retail-oriented business units in Western Colorado as part of its continued strategy to focus on professional builders and contractors and to emphasize value-added products and services, including manufacture and installation of millwork and structural components, in addition to lumber and materials distribution.
Grand Junction, Colo.-based West Canyon Investments, an affiliate of Harbert Lumber, bought the three operations for $11.4 million.
The transaction includes the sale of the real estate assets at the company’s Steamboat Springs and Glenwood Springs locations, the lease of its Aspen real estate to West Canyon Investments, and sale of the business assets of all three locations.
Sales for the locations in 2006 were reported at about $40 million, equaling about 3 percent of BMC West’s sales.
“As we continue to evaluate opportunities to better serve BMC West customers, we remain focused on ensuring our operating facilities are optimally located and provide the right range of professionally oriented products and services to drive growth and operating efficiencies,” says Robert E. Mellor, chairman, president and CEO. “In a number of instances, this has entailed a shift away from more retail-oriented operations like those located in Aspen and Steamboat Springs. Importantly, the new owners share our belief in the importance of our people, and will offer jobs to all of our current employees in these locations. Strategically, this transaction will allow us to concentrate our efforts and resources on expanding in markets that align with our long-term growth plans.”
BMC West is a wholly owned subsidiary of San Francisco-based Building Materials Holding Corp., a leading provider of construction services and building materials to professional residential builders and contractors. The company has a second subsidiary company, SelectBuild, which provides construction services to high-volume production homebuilders in key growth markets across the country.
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