Issue 7 2019

Acquisition International - Issue 7 2019 5 News : from around the world Construction Resources LLC Announces the Acquisition of United Materials Inc. Construction Resources LLC, an Atlanta- based design and construction supply company, has acquired United Materials Inc. (UMI), a Florida-based importer and distributor of surfacing materials. Since its founding in 2002, UMI has grown into one of the largest wholesale suppliers of stone products in the Southeast. Its countertop slab offerings include quartz, natural stone, porcelain and recycled glass, in addition to complementary products including tile and sinks. UMI has a diversified customer base, with more than 1,500 customers and annual revenues in excess of $50 million. UMI has three design centers/ distribution facilities located in Naples, Tampa and Boynton Beach, Florida. Don DiNorcia and his management team at UMI will continue in their current roles, post- transaction, as a part of the Construction Resources group. UMI’s sales and operations teams will continue providing superior-quality products and service to their clients. In the near future, UMI has plans for expansion throughout the state of Florida. This will generate a greater reach, facilitating a more localized distribution of slabs to better support the fabricator network in the residential and commercial segments. Construction Resources (CR) has developed an enviable reputation in the design and construction sector, particularly in the Southeast, with its diverse product portfolio and steady growth through both start-ups and acquisitions. Founded by the Hires family in 1970 to manufacture cultured marble products, CR now offers over 60 nationally recognized brands across 10 product categories in the single-family, multi- family and commercial segments. “The acquisition of UMI came as a natural fit as we looked to expand our geographic footprint and continue executing on our strategic plan to become the premier one- stop-shop for design, product sourcing and project management needs of the remodel and new build markets,” said Mitch Hires, CEO of Construction Resources. “Under the leadership of Don DiNorcia, UMI has built a solid business reputation and we believe great opportunity awaits both brands,” he added. “We truly are excited about the opportunity this partnership presents our company,” said Don DiNorcia, president of UMI. “From an operations and geographical standpoint, there is exceptional value in the Construction Resources brand. Our businesses align almost seamlessly and our potential for growth increases greatly with their support.” Major Southeast design and construction supply company further expands its business in Florida. City Relay, one of London’s leading short let property management services companies, has recently announced the acquisition of OutSwitch, to allow homeowners to make the most out of their rental properties and see their true profit potentials. Built with professional property managers in mind, OutSwitch provide users with the ease of having both a revenue and operations management system simplified into one platform, enabling a more streamline and simplified approach. OutSwitch will continue to operate as a separate brand to City Relay, led by Maxime Leufroy-Murat, Founder and Chief Executive of City Relay, to develop and expand both businesses. This acquisition provides City Relay with their own bespoke yield management platform, which they are dedicated to developing further, to create the most efficient short let platform on the market. The platform allows City Relay to hone in on both yield and operations management, aspects often overlooked in traditional management services companies. City Relay is seeing a growing trend for people looking to rent out their homes for the summer season, and OutSwitch is tailored specifically for vacation rental managers, to ultimately help improve yields, achieve their full potential and stay on top of the competition. This latest business move comes shortly after the company secured substantial investment and follows the recent announcement of the new Shepherds Bush reception space, a totally unique concept in the short- term letting industry. City Relay is moving from strength to strength to further expand their scope of abilities to take the hassle out of short term letting your home. Maxime: “Our acquisition of OutSwitch will enable us to further serve our clients to the best of our abilities and provide hosts with a streamlined platform which is not currently offered in the industry. City Relay is committed to providing the highest quality short term let management services and moving forward OutSwitch is going to enable us to have our own yield management platform, further supporting us while we continue to grow and evolve.” City Relay Announces Acquisition Of OutSwitch