Packaged Home Solutions Purchases J&Y Wheeler
In its continued effort to grow through acquisition, Packaged Home Solutions bought J&Y Wheeler Inc., a regional home improvement company focused on exterior products. The Jacksonville, FL-based dealer has market presence in Southern Georgia and Northeast Florida. The companies did not disclose the terms of the deal but J&Y Wheeler is expected to have revenues of about $4.5 million this year.
The 29-year-old dealer offers a full line of exterior products, including vinyl and hurricane windows, interior and exterior doors, and sunrooms and screen rooms. The company also offers “installed only” services for national home improvement retailers and manufacturers in its current geographical area.
“The acquisition of a company such as this is exciting in that it brings three vital components to the table,” says Dan Smith, president of PHS, “Strong, effective and proven management, a multi-faceted income stream approach that fits well with our one-stop shop objectives for our homeowners; as well as the enhancement of our installed only, labor-based initiative aimed at providing various home improvement retail chains with the best solution for their customers.”
Five key leaders from the acquired company will stay with PHS.
PHS is engaged in an external growth strategy, as well as an internal growth plan, in an effort to be one of the largest home improvement services company in the U.S. by the end of 2007. The company focuses on the middle market of $100,000 to $600,000 homes, specializing in improvements to increase the value of a home.