In a strategic move to enhance its capabilities in serving professional customers, home improvement retailer The Home Depot has finalised an agreement to acquire International Designs Group (IDG) from private equity firm Mill Point Capital.
The acquisition is subject to customary closing conditions and is expected to be completed by the end of 2023.
The Home Depot said it positions the company to tap into the $475bn professional market.
Headquartered in Decatur, Georgia, IDG operates showrooms and fabrication facilities across the East Coast and Southeast US.
Strengthening professional services
Construction Resources, a key subsidiary of IDG, specialises in offering design-oriented surfaces, appliances and architectural products tailored for professional contractors engaged in renovation, remodelling, residential home building and multi-family projects.
The acquisition leverages Construction Resources' expertise in managing complex, cross-category professional projects, complementing The Home Depot's scale, product authority and distribution capabilities.
The Home Depot chair, president and CEO Ted Decker expressed the company's commitment to serving professionals comprehensively:
"Construction Resources helps us accelerate our Pro-growth opportunity with a successful showroom model, an exceptional sales force and proven, long-term relationships with renovator, remodeler and residential new-construction Pros."
Building a pro-centric ecosystem
The Home Depot said its vision extends beyond this acquisition, as it aims to build a “unique, interconnected ecosystem” to support professional contractors in expanding their businesses.
The company highlighted the acquisition adds to its already “comprehensive” suite of services, from its ProXtra loyalty programme to digital tools, personalised experiences and a dedicated salesforce.
Construction Resources CEO Mitch Hires shares their excitement about joining The Home Depot, citing alignment in customer-focused culture and a shared commitment to excellence:
"The Home Depot's scale, operational expertise and product innovation are unmatched in our industry and I'm confident the combination of our capabilities will bring tremendous value to the Pros and homeowners who rely on us every day."
