Generational Equity, a leading mergers and acquisitions advisor for privately-held and familyowned businesses, is pleased to announce the sale of its client, Morrison Terrebone Lumber Center (Morrison Terrebone), to Central Network Retail Group (CNRG). The transaction closed on November 4, 2011, and was led by Managing Directors, Terry Mackin, and Vice President, Kyle Coe. Financial details of the transaction were not disclosed.
“The partnership between Morrison Terrebone and CNRG is mutually beneficial for the two groups, while Morrison will retain their name and traditions, CNRG will gain an increased market share while adding expertise to its executive team.” said Generational Equity president Ryan Binkley.
Headquartered in Houma, Louisiana, Morrison is the combination of two stores, Houma Brick and Box and Terrebone Lumber and Supply Company which merged in 1999. While maintaining the heritage and principles of its predecessors, Morrison has emerged to become the premier building supply company in the region. Doug Gregory, president of Morrison has remained on board to join the CNRG board of directors. “My partners and I are excited about this new venture as it will provide an excellent opportunity to grow our business while maintaining our identity in Terrebonne and Lafourche Parishes,” said Doug Gregory. “The synergies between Morrison Terrebone and CNRG were what helped to close this deal”, stated Terry Mackin. “It is a great example of the knowledge our deal teams have behind buyer motivations.”
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