HD Supply Holdings, Inc.
TypeSubsidiary
Nasdaq: HDS (2013–20)
Founded1974
(as Maintenance Warehouse)
in San Diego, California
HeadquartersAtlanta, Georgia, United States[1]
Number of locations
Approximately 600[2]
Area served
North America
Key people
Shane M. O'Kelly (CEO)[3]
Brad Paulsen (COO)[4]
Revenue$7.39 billion[5]
Number of employees
11,000[6] (2018)
ParentThe Home Depot
Websitehdsupply.com

HD Supply (formerly Maintenance Warehouse) is an industrial distributor in North America. The company provides a broad range of products and value-added services to approximately 500,000 professional customers in maintenance, repair and operations, infrastructure and power and specialty construction sectors.[7] The company was re-acquired by The Home Depot in December 2020.[8]

History

The company was founded in 1974 as Maintenance Warehouse in San Diego, CA. In 1997, The Home Depot purchased Maintenance Warehouse with its dedicated delivery trucks and free delivery service. In 2004, Maintenance Warehouse changed its name to HD Supply. In January 2006, Home Depot announced that it was acquiring Hughes Supply in a $3.2 billion deal. Hughes Supply was then integrated into the HD Supply division.

Home Depot, after changing its CEO from Bob Nardelli to Frank Blake, decided to sell HD Supply in order to raise capital to repurchase Home Depot stock and shore up the stock price. In 2007, the HD Supply was purchased by private equity firms Bain Capital, The Carlyle Group, and Clayton, Dubilier & Rice, and continued to operate as HD Supply.

On June 27, 2013, HD Supply Holdings, Inc., the indirect parent of HD Supply, Inc., announced that it had priced an initial public offering of 53,191,489 shares of common stock at $18.00 per share. The shares began trading on the NASDAQ Global Select Market on June 27, 2013, under the ticker symbol HDS.[9] In December 2014 SEC filings showed that The Carlyle Group and Clayton, Dubilier, & Rice had sold off their holdings in HD Supply.[10] On 1 August 2017, Clayton, Dubilier & Rice acquired the Waterworks division of HD Supply and changed its name to Core & Main.[11]

In October 2020, HD Supply's Construction & Industrial business unit, known as White Cap, separated from HD Supply and became an independent company. At that time, White Cap combined with Construction Supply Group (CSG) to move forward as one company under joint ownership by private equity firms Clayton Dubilier & Rice and The Sterling Group. [[12]]

On November 16, 2020, HD Supply Holdings, Inc. announced an agreement to be reacquired by The Home Depot, Inc.[13]

Current business

HD Supply Holdings, Inc. went public on June 27, 2013, on the NASDAQ stock exchange under the ticker symbol HDS. The enterprise business units are divided into three categories, with 650 locations across 48 states and seven Canadian provinces.

  • Maintenance, Repair and Operations - HD Supply Facilities Maintenance
  • Specialty Construction - HD Supply Construction & Industrial — White Cap (United States)[14]
  • Specialty Construction - HD Supply Construction & Industrial — Brafasco (Canada)[15]

References

  1. ↑ "HD Supply Fact Summary" (PDF). Files.Shareholder.com. Archived from the original (PDF) on 2016-03-03. Retrieved 2020-12-04.
  2. ↑ http://www.hoovers.com/company-information/cs/company-profile.Hd_Supply_Holdings_Inc.52db8a74716e0acc.html
  3. ↑ https://hdsupply.com/wp-content/uploads/Shane_OKelly_Bio.pdf
  4. ↑ https://hdsupply.com/wp-content/uploads/Bradley_Paulsen_Bio.pdf
  5. ↑ "HD Supply Annual Income Statement". amigobulls.com.
  6. ↑ "HD Supply Holdings". Fortune. Retrieved 2018-12-28.
  7. ↑ "HD Supply Holdings". Fortune. Retrieved 2018-12-28.
  8. ↑ Mandel, Eric (December 24, 2020). "Home Depot completes $8 billion purchase of HD Supply". Atlanta Business Chronicle.
  9. ↑ "HD Supply Holdings, Inc. Prices Initial Public Offering of Common Stock". Global News Wire. June 27, 2013. Retrieved 20 April 2017.
  10. ↑ "HD Supply Holdings, Inc. Announces Pricing of Sale of 40,661,072 Shares of Common Stock by Selling Stockholders". HD Supply. December 11, 2014. Archived from the original on 2015-01-20.
  11. ↑ wateronline.com – HD Supply Waterworks Changes Name To Core & Main
  12. ↑ LLC, White Cap Supply Holdings. "White Cap and Construction Supply Group Combine to Create $4 Billion Market-Leading Distributor of Concrete Accessories and Specialty Construction Products". www.prnewswire.com (Press release). Retrieved 2022-06-16.
  13. ↑ "HD Supply Holdings, Inc. Announces Agreement to be Acquired by The Home Depot, Inc". HD Supply Holdings, Inc. November 16, 2020. Retrieved 16 November 2020.
  14. ↑ https://www.whitecap.com/
  15. ↑ http://www.brafasco.com/
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