Seattle, WA (June 2, 2006) - In a move that will benefit consumers, builders, company shareholders and employees, the nation's two largest and oldest all-green building materials companies have merged their businesses. Both Environmental Home Center (EHC) and Environmental Building Supplies (EBS) have successfully tapped the growing market of homeowners, builders and developers who want healthier, environmentally sensitive and sustainable materials that are better for their families, customers, workers and the planet. "It's a business marriage with two equally dynamic partners", according to EHC CEO Tim Taylor. "Both businesses are thriving, but as we combine our respective expertise, products and services we expect greater business strength and positive environmental impacts." The merger will consolidate buying power resulting in improved in-stock inventory, expanded offerings and more exclusive products.
EBS owners, Markus Stoffel and Abby Mages, say that although EHC is buying their company, it is really more a collaboration that will improve the selection for customers. Stoffel says, "We are the two best companies of our kind in the U.S. and share a similar interest in making the world a better and healthier place, while also making a profit." Mages continued, "Our companies share a commitment to a highly trained staff offering the broadest and best selection of high performance, affordable green building and finish materials available anywhere". Both companies will retain their own store identities and all of the founders of the two businesses will remain involved at a senior level.
The move reflects the unprecedented growth in green building, in both commercial and residential sectors. The National Association of Homebuilders reports a 20% growth in 2005 and projects a 30% growth in 2006 fueled, in part, by $11 trillion in homeowner equity. EHC and EBS have both seen growth of 20-30% per year over the last 5 years and, together, currently employ about 50 people. EHC has one store in South Seattle and has been in business since 1992. EBS opened in 1993, with its flagship store in Portland and a satellite store in Bend.
EHC worked on its strategy and financial analysis with investment banking firm Hadley Partners, and secured equity financing to complete the merger and capitalize the combined entities for continued growth.
About Environmental Home Center (www.environmentalhomecenter.com)
Environmental Home Center helped pioneer the green building movement in Seattle and today is a leading supplier of green building materials in the northwest. EHC offers stylish, durable and price competitive building and finish materials that are resource-efficient, energy-efficient or better for your health. Products include sustainably harvested wood flooring and cabinets, low-toxic paints & finishes, wool and plant-fiber carpets, true linoleum, tiles, countertops and decking. The company has a showroom in Seattle and has a call center and a professional sales team that serve homeowners and building professionals in all 50 states.
About Hadley Partners, Inc. (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the Financial Industry Regulatory Authority.
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