BuildDirect Announces Acquisition of Superb Flooring & Design; expanding US Pro market share


Deliver BuildDirect’s strategy to accelerate growth through its leading omnichannel platform by making selective and accretive acquisitions

VANCOUVER, BC, November 17, 2021 /PRNewswire/ – Technologies Inc. (TSXV: BILD) (“BuildDirect” or the “Company”), today announced the acquisition of MichiganSuperb Flooring & Design LLC (“Superb” or the “Acquisition”) for an aggregate purchase price of USD $10 million. The acquisition was completed on the morning of November 17, 2021.

Superb is an established brand serving professional builder customers (home builders, condominium developers, commercial and residential contractors, interior designers, architects and multi-family property managers) in the U.S. Midwest, which, relative to other segments of Pro customers, tends to be more concentrated and larger in size and scale. In the period ended September 30, 2021 Superb unaudited revenue generated over USD $18 million and greater than $2 million of EBITDA over the last 12 months.

Superb’s focus on exceptional customer service and over 50 years of collective experience provides BuildDirect with the opportunity to capture additional market share and on-the-ground expertise serving the Pro customer. The Superb platform represents solid product selection support, as well as reliable project management and installation services for its Pro Builders. Leveraging the synergies available through BuildDirect’s digital and supply chain capabilities will strengthen Superb’s ability to serve its existing Pro customers and provide the opportunity to grow our combined market share in Michigan and the surrounding region.

“Joining Superb will allow BuildDirect to meet more customers where they are, helping them navigate a new digital era of home improvement through our innovative digital platform and network of supply chain,” said Dan Park, CEO of BuildDirect. “We are confident in our strategy to leverage our digital and delivery platform, and become a true innovator in the space.”

Ethan RoudinBuildDirect’s CFO added, “As BuildDirect’s second acquisition in Michigan, we welcome the opportunity to work with the expert teams at Superb and FloorSource to rapidly expand our combined share of the US Midwest Pro market. Superb’s long-standing professional builder customer base aligns directly with our strategy to acquire B2B-focused targets, grow our professional customer base, and improve the end-to-end experience for these key customers. Our acquisition pipeline remains strong with accretive opportunities at various stages of development.”

“BuildDirect and Superb are joining forces to deliver a unique omnichannel experience to our customers,” said Lonnie Pukoff, founder of Superb Flooring & Design. “In addition to its digital platform, BuildDirect’s product selection, heavy shipping infrastructure and offshore sourcing capabilities will create advantages for Superb. We are excited to work with BuildDirect to achieve our shared goal of provide quality service and products to our Pro customers.”

Acquisition details
BuildDirect has purchased 100% of the fully diluted outstanding share capital of Superb for an aggregate purchase price of USD $10 million (the “Purchase Price”) and will be funded entirely in cash. The purchase price is payable pursuant to an upfront payment upon closing of the acquisition, as well as certain deferred payments after the closing date of the acquisition, a portion of which is subject to Superb making certain performance measures. The purchase price is also subject to customary post-closing working capital adjustments.

The acquisition is an arm’s length transaction for the purposes of the policies of the TSX Venture Exchange (“TSXV”). BuildDirect does not expect shareholder or regulatory approval to be required. Management understands that this acquisition qualifies as an “exempt transaction” under TSXV Policy 5.3. No finder’s fee has been or will be paid by BuildDirect in connection with this acquisition.”

About BuildDirect
BuildDirect (TSXV: BILD) is an innovative technology platform for buying and selling building materials online. The BuildDirect platform connects homeowners and home improvement professionals in North America with suppliers and sellers of quality building materials from around the world, including flooring, tiles, decking and more. BuildDirect’s growth, exclusive delivery network and digital reach have served to cement its role as a game changer in the home improvement industry. For more information, visit

Forward-looking information
This press release contains statements that constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding plans, intentions, the Company’s current beliefs and expectations regarding future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, ” esteem”, “expect” or similar expressions. These statements reflect the current beliefs and expectations of management and are based on information currently available to management as of the date hereof.

Forward-looking statements in this press release may include, but are not limited to, statements relating to BuildDirect’s ability to capitalize on trends in home improvement investment, its supply chain platform digital and heavy innovative and its ability to leverage the same omnichannel experience to be offered to customers; achieving synergies and overall integration of Superb’s operations with BuildDirect (including, but not limited to, Superb’s ability to improve service to its existing customers as well as increase Superb’s market share in the state of Michigan and BuildDirect’s ability to grow its Pro customer base and improve the end-to-end experience for its customers); conquest of additional market shares for Pro customers; quality service and products; future acquisitions; Superb’s growth potential; and the Company’s ability to make future payments in connection with the purchase of Superb.

Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied by the forward-looking statements. These factors include changes in consumer spending, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other laws and regulations applicable to both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in terms economic, commercial and general policies. These forward-looking statements may be affected by risks and uncertainties in the Company’s business and general market conditions, including COVID-19.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated, believed, estimated or expected. These factors should be carefully considered and readers should not place undue reliance on forward-looking statements.

Although the forward-looking statements contained in this press release reflect the Company’s expectations, estimates or projections regarding future results or events based on management’s beliefs, assumptions and estimates believed to be reasonable as of the date the statements are made, the Company cannot assure readers that actual results will be consistent with such forward-looking statements. There may be other risks, uncertainties and factors that cause results not to be as anticipated, estimated or intended and such changes could be material. These forward-looking statements are made as of the date of this press release, and BuildDirect undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

SOURCE Technologies Inc.

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