Industrial Electronics

Home Depot pushes further into MRO space

18 November 2020

The Home Depot has acquired HD Supply Holdings Inc. in a deal that will help the home improvement retailer grow its maintenance, repair and operations (MRO) products.

HD Supply Holdings is a national distributor of MRO for both industrial, home and hospitality end markets. Home Depot said the acquisition will help it become a leader in providing MRO services for multiple industries.

“The MRO customer is highly valued by The Home Depot, and this acquisition will position the company to accelerate sales growth by better serving both existing and new customers in a highly fragmented $55 billion marketplace,” said Craig Menear, chairman and CEO of The Home Depot.

The acquisition, which is valued at about $8 billion, will still need to meet customary closing conditions and regulatory approvals. It is expected to close in Home Depot’s fiscal fourth quarter, which ends on Jan. 31, 2021.

“We plan to access the debt capital markets to raise incremental indebtedness in support of this acquisition,” said Richard McPhail, executive VP and CFO of Home Depot. “We also expect the transaction to be accretive to earnings in fiscal 2021, with potential for significant shareholder value creation over the longer term.”

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