Majestic Kitchen & Bath Creations Inc. has announced its acquisition of Wilmington-based Builder’s Glass & Hardware Inc., according to a news release.
The acquisition was completed Feb. 28 as part of the buyer's "continued, strategic expansion plan to increase Majestic’s market share in the Carolinas," according to the release. The terms of the sale were not disclosed, officials said.
Over the next 60 days, all of Builder’s Glass & Hardware’s personnel and inventory will integrate into Majestic Kitchen & Bath Creations' existing Wilmington facility at 3317 Kitty Hawk Road, officials said. Rick Crocker, formerly president of Builder’s Glass & Hardware, will now lead Majestic’s Wilmington operations as the division manager.
Majestic Kitchen & Bath Creations is headquartered in Youngsville, a town just north of Raleigh, where it also holds about 200,000 square feet of space for its manufacturing and fabrication capabilities, Scott Byers, Majestic Kitchen & Bath Creations Inc. president and CEO, said Tuesday. The company has four storefront locations, one each in Greensboro, Youngsville, Raleigh and Wilmington.
The company's primary market is with residential builders and remodelers, Byers said, adding that those "represent about 80 percent of our business."
The company makes a wide range of products, including countertops, sinks, bathtubs and showers.
Byers said the acquisition in Wilmington would "enhance our capabilities in Wilmington so that we could provide more products [and] have more depth, both in our product offerings as well as our team." Wilmington is an attractive and growing location with a lot of opportunity in the residential markets, he added.
“The addition of Builder’s Glass & Hardware into our portfolio falls perfectly in line with our growth strategy. We are focused on our goal to be the preferred, single-source provider of top quality products and professional installation services. This acquisition advances our efforts toward that goal," Byers said in the release.
There are also additional products that the company will be acquiring with Builder’s Glass & Hardware, from closet shelving to door hardware and locksets, Byers said Tuesday, adding "those are things that we had not offered out of Wilmington that we'll be able to offer to builders going forward."
Along with products and services in the residential markets, the company also has a commercial division that addresses projects such as multi-family living, hotels, education and hospitals, Byers said.
Majestic Kitchen & Bath Creations has been able to expand at a double-digit rate over the past several years, and the year 2018 looks to continue that trend for the company, Byers said.
"Markets are attractive, interest rates are still at historic lows, although moving up, and the Carolinas are a place where a lot of people want to be for a variety of reasons. We work with national, local and regional builders and so, we are well-positioned to continue that double-digit growth for the foreseeable future," Byers said.
The Wilmington acquisition marks the third for Majestic Kitchen & Bath Creations in recent months. In December, the company acquired Piedmont Marble Inc. and Tiffany Marble & Glass Co., both of which are located in Greensboro, and consolidated their operations and showrooms under the Majestic brand, officials said in the release.
Majestic Kitchen & Bath Creations employs about 280 people, with around 40 of those employed in the Wilmington area, Byers said. The company is also looking to hire additional employees to serve the Wilmington market.
"We have some positions that are posted now for installers and similar talent. And so we see a lot of opportunity for growth both in sales as well as employee base," Byers said.