Star Equity Holdings Inc. (NASDAQ: STRR, STRRP), an Old Greenwich-based diversified holding company, has completed the acquisition of Big Lake Lumber Inc., a Minneapolis-based building supply center and lumber yard.
The financial terms of the acquisition were not disclosed. Big Lake will be rebranded and integrated into Glenbrook Building Supply, Inc., one of the businesses in Star’s construction division.
“We are excited to announce this important transaction for Star and Glenbrook,” said Rick Coleman, Star’s CEO. “This complementary bolt-on establishes Glenbrook as a regional player in the twin cities metro area and expands its client base. Furthermore, the accretive transaction immediately diversifies Glenbrook’s revenue mix by adding more single-family residential business and presents opportunities for margin synergies going forward – both of which we expect to generate substantial value for Star shareholders.”
Photo courtesy Big Lake Lumber
