Lowe's Builds On Multifamily Biz With $512M Acquisition

By Dorothy Atkins (May 18, 2017, 2:15 PM EDT) -- Lowe's Cos. Inc. said Thursday it's acquiring Houston-based Maintenance Supply Headquarters for $512 million in its effort to expand the home improvement company's offerings to apartment complex builders and other professionals.

Lowe's said in a statement that the deal will substantially expand the Mooresville, N.C.-based company's ability to serve contractors in the multifamily housing industry, which includes apartment complexes, condominiums and town houses. The acquisition is an important step in its strategy to "deepen and broaden" its relationship with those customers, Lowe's said.

The deal follows Lowe's November acquisition of Central Wholesalers Inc., another company that distributes maintenance, repair and operations...

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