Lowe’s diversifies with $500 million purchase of two building-management firms

Lowe’s Cos. agreed to buy two companies that sell products to apartment-building managers and owners in deals worth more than $500 million, moves aimed at diversifying its business beyond do-it-yourself homeowners.

The Mooresville, N.C., home-improvement retailer
 said it would pay $512 million for Houston-based Maintenance Supply Headquarters, which sells appliances, flooring, lighting and other supplies primarily to apartment complexes in the western and southern U.S. The deal is expected to close in the coming months.

View more information: https://www.marketwatch.com/story/lowes-diversifies-with-500-million-purchase-of-two-building-management-firms-2017-05-18

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