HDI Finishes Acquisition of Novo Building Products

“This is a transformative acquisition for the Company,” HDI’s President and Chief Executive Officer, Rob Brown, stated. “Novo significantly broadens our addressable market, providing turnkey access into the home center and home builder distribution customer segments. We believe the combined scale and sophistication of HDI and Novo creates a national platform to provide additional solutions to our customers, and allows us to capitalize on the market share opportunity available. The multi-year outlook for our products and the end markets we participate in is very attractive, with strong demand driving new residential, repair and remodel and commercial building expenditures. Millennials represent the largest demographic segment of the population and are now entering peak home-buying years, complemented by historically low-interest rates and rising home equity levels that support spending. We see significant growth opportunities ahead as we continue to build HDI as a world-class distributor of architectural building products for the benefit of our customers, vendor partners, employees and shareholders.”