Home Depot Acquires International Design Group
DECATUR, Ga. – The Home Depot agreed late last month to acquire International Designs Group (IDG), a home products distributor with a long history in the surfaces market.
The Home Depot (NYSE:HD) struck a deal announced Nov. 20 with Mill Point Capital LLC, a New York-based private-equity firm that owned IDG and its affiliates. Terms of the deal, set to finish by year’s end, weren’t announced.
IDG includes Construction Resources, an Atlanta-based distributor/fabricator of design-oriented surfaces, appliances, and architectural specialty products, along with Cancos Tile & Stone LLC of Farmingville, N.Y., United Materials Inc. (UMI) of Naples, Fla., and Trajus Surfaces of Jamesburg, N.J.
The Home Depot acquired IDG to enhance its sales position in the professional (Pro) contractors market, noting the network showrooms/warehouses of IDG companies on the East Coast and in the Southeast.
“Almost all Pros interact with The Home Depot, but their level of engagement varies based on the complexity of their projects. We’re building capabilities to ensure we can serve all Pros across all their project needs – whether we’re the last stop on the way to the jobsite, or their first consideration when building a project design,” said Ted Decker, The Home Depot chair/president/CEO.
“Construction Resources helps us accelerate our Pro growth opportunity with a successful showroom model, an exceptional sales force, and proven, long-term relationships with renovator, remodeler and residential new-construction Pros. “
IDG’s roots reach back to the early 1970s, when Fred E. Hires Sr. and his partners opened Atlanta Marble Manufacturing in Decatur with the single product offering of cultured marble. In 1996, Hires’ sons Mitch and Sonny purchased their father’s partners’ interest in the company and expanded into kitchen countertops, opening Atlanta Kitchen.
The acquisitions of other companies came under a new parent company of Construction Resources. Monomoy Capital Partners, a New York private equity firm, acquired Construction Resources and Builder Specialties Inc. in 2015. In 2019, it added UMI with its extensive network in Florida and other Southeastern states.
Construction Resources continued to build its showroom/distribution network, and company products included the Forum Quartz and Pompeii Quartz brands.
IDG, under Mill Point’s ownership, acquired Cancos Tile & Stone in May 2022, and then purchased Construction Resources from Monomoy a month later. This August, IDG acquired Trajus Surfaces and the brands of European Granite and Marble and Marva Marble.
“Mill Point has been a tremendous partner to IDG,” said Mitch Hires, IDG’s CEO. “With their guidance and support, we have successfully completed many initiatives that have grown the business meaningfully. As we embark on our next chapter with The Home Depot, IDG is excited to continue executing our strategic plans to become the premier multi-product supplier to professional customers in our footprint.
“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,” Hired noted. “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.”
“We look forward to working with Mitch Hires and the outstanding leadership team at Construction Resources and are excited for the opportunity ahead,” added The Home Depot’s Decker.
