The St. Petersburg, Florida-based multi-location building materials supplier’s agreement is to acquire all of the assets of the single-location roof and floor truss manufacturer.
“Assuming this deal is consummated, D & M Truss’ team and facility are strategic to our existing Florida operations to allow for further growth into Florida’s panhandle, Alabama, and Mississippi; finally propelling us over the Florida state line. D & M gives us a very geographically-significant footprint to complement our existing Central Florida truss production, and the team is experienced, well-disciplined, and extremely respected in the marketplace. This is an exciting growth opportunity and time for us,” said Kyle Hooker, Tibbetts Lumber’s executive chairman.
Tibbetts Lumber’s Director of Human Resources Rob Hicks, said, “As a people-first, growth-focused leader in the building materials industry, we are excited to work with the D & M team and bring aboard the exceptionally hardworking and dedicated employees as part of the Tibbetts Lumber family. It’s an amazing opportunity to have their talent and expertise join the team!”
Upon the closing of the transaction, Tibbetts Lumber’s U.S. footprint will increase to 10 locations throughout Florida. Its sister company, Cox Lumber Ltd., operates two locations in the Cayman Islands.
“D & M’s ‘Core Values’ and business model align with ours. If this acquisition closes, it should enhance our ability to serve current key and future customers in the Greater Pensacola area. Servicing customers in the Florida Panhandle solidifies our strategic growth plan in Florida and throughout the Southeastern U.S.,” said Tibbetts Lumber’s Vice Chairman and CEO Russ Hallenbeck.