White Cap, NYCO Strike Deal
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COSTA MESA — Contractor supply retailer White Cap Industries Inc. said Wednesday that it has agreed to acquire Denver-based construction products distributor NYCO Inc.
Terms of the transaction were not disclosed. Chris Lane, White Cap’s chief financial officer, said details would not be released until the deal closes--most likely in May.
Privately owned NYCO posted $16 million in sales last year for its four stores in Colorado. The acquisition would give White Cap a total of 32 stores in the western United States.
White Cap, which began as a retailer of concrete supplies and equipment, operates warehouse-style stores specializing in construction tools and equipment. NYCO is a retail distributor of construction chemicals, waterproofing products and tools and equipment for the concrete industry.
White Cap stock fell 50 cents Wednesday in Nasdaq trading to close at $21.50 a share.
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