With a focus on the Pro Customer, the Company will continue its expansion under the Construction Resources umbrella.
ATLANTA, GA / ACCESSWIRE / November 20, 2023 / The Home Depot, the world's largest home improvement retailer, has entered into a definitive agreement to acquire International Designs Group (IDG), a Mill Point Capital platform company which owns and operates Construction Resources and other design-oriented subsidiaries. IDG is a leading supplier of home products for the construction and design industry.
IDG is known for its impressive portfolio of well-established companies, including Construction Resources, United Materials, European Granite and Marble, Marva, and Cancos Tile & Stone. Current home improvement offerings include natural stone, engineered and porcelain slabs, custom countertops, appliances, lighting, garage doors, fireplaces, glass & mirror, as well as tile & flooring.
With a greater than fifty-year legacy in the building products industry, Construction Resources is committed to customer satisfaction and product excellence. This strategic acquisition aligns with The Home Depot's focus on capturing a larger share of the Pro market by building capabilities to serve Pros of all sizes, across their project needs. As a part of continued strategic alignment, the entire IDG and Construction Resources senior management team will be moving forward with the Company post-transaction.
"We're thrilled to join The Home Depot team, because their customer- and associate-focused culture aligns so well with Construction Resources' commitment to excellence in serving our customers," said Mitch Hires, CEO of IDG and Construction Resources. "The Home Depot's scale, operational expertise and product innovation is unmatched in our industry, and I'm confident the combination of our capabilities will bring tremendous value to the Pros and homeowners who rely on us every day."
"Mitch and the entire IDG team have built a tremendous platform, which will continue to flourish within The Home Depot's organization. We are honored to have worked closely with them to achieve several milestones, and they are well-positioned moving into their next phase of growth," said Rick Bennet, Mill Point Executive Partner.
The acquisition is subject to customary closing conditions and regulatory approvals and is anticipated to be finalized by the end of 2023.
About International Designs Group
Based in Decatur, Georgia, International Designs Group is a supplier of slab, tile, appliances and specialty products for the kitchen and bath industry. IDG offers proprietary brands such as Pompeii Quartz and Forum Quartz, as well as its CTC (Cancos) tile label. IDG operates showrooms in several eastern U.S. states, including Georgia, South Carolina, Florida and New York. IDG's extensive range of products, combined with the Company's service expertise, ensure that every step of the purchasing process is seamless and hassle-free for trade partners and homeowners. For more information, please visit www.internationaldesignsgroup.com.
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer. At the end of the third quarter of fiscal year 2023, the Company operated a total of 2,333 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America specializing in the business services, industrials, and IT services sectors. Mill Point's experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. To date, Mill Point has completed exactly 80 platform and add-on acquisitions and manages more than $2.5Bn of assets under management. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
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SOURCE: International Designs Group